Why are firms unlevered

By Erik Devos, Upinder S. Dhillon, M. Jagannathan, Srinivasan Krishnamurthy. 2012

146 citations recorded by the source corpus.

Subfields: Accounting, Finance

View Paper: https://www.semanticscholar.org/paper/ef2619891b3553fea58b615d07ae54f765eca58e

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Accounting

1. V. Dang

In Finance

1. V. Dang

Citations in the corpus

• The international zero-leverage phenomenon (2013, unknown): “The estimated coefficients on the variables GDP per capita growth and inflation are negative, supporting the result of Djankov et al. (2007) that firms are more likely to carry higher leverage ratios in countries with a better legal environment and more stable and healthier economic conditions.”
• An empirical analysis of zero-leverage firms: New evidence from the UK ☆ (2013, background): “A similar trend is documented in contemporaneous US research (Devos et al., 2012).”