The Dynamics of Capital Structure

By Saugata Banerjee, Almas Heshmati, Clas Wihlborg. 2000

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The Dynamic Adjustment Towards Target Capital Structures of Firms in Transition Economies (2006, background): “In light of the above, this section presents a dynamic capital structure model mainly along the lines of Banerjee, Heshmati, and Wihlborg (2000) , henceforth BHW.5 Trade-off theory provides the”
The Dynamics of Capital Structure: Evidence from Swedish Micro and Small Firms (2001, background): “B. Estimation Procedure In estimating the relationship between determinant factors and leverage, several econometric techniques have been used including: tobit (Rajan & Zingales, 1995), logit (Opler & Titman, 1995; probit Taub, 1974), autoregressive distributed lag (Homaifar, Ziets & Benkato, 1994),”
The Determinants of Capital Structure of Stock Exchange-Listed Non-Financial Firms in Pakistan (2004, background): “This tax shield benefits are not changed by market value of the debt once it is issued [ Banerjee, et al. (2000) ].”
What determines the speed of adjustment to the target capital structure? (2006, background): “Using similar variables to capture the speed of adjustment as Banerjee et al. (2000), he finds that the estimate for the distance variable is significantly negative for UK firms, indicating that it is less costly to adjust by relatively small amounts.”