The Pecking Order, Debt Capacity, and Information Asymmetry

By Mark T. Leary, Michael R. Roberts. 2010

588 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/f89a813d35de56deb6c6a2d70f546b7ecf8e130f

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. A. Danso
2. William Coffie
3. Wasim Ahmad
4. X. Vo
5. Mike Lemmon
6. Jaime F. Zender
7. Yingmei Cheng
8. Tianming Zhang

In Economics and Econometrics

1. A. Danso
2. William Coffie
3. Wasim Ahmad
4. X. Vo
5. Mike Lemmon
6. Jaime F. Zender
7. Yingmei Cheng
8. Tianming Zhang

In Finance

1. X. Vo
2. A. Danso
3. Wasim Ahmad
4. Mike Lemmon
5. Jaime F. Zender
6. Yingmei Cheng
7. Tianming Zhang
8. Thomas J. Chemmanur

Citations in the corpus

• Information asymmetry, leverage and firm value: Do crisis and growth matter? (2016, background): “Other empirical extensions in the literature have looked at the link between information asymmetry and agency cost as the latter increases managerial discretion and risk-shifting behaviour (Leary and Roberts, 2010; Saam, 2007).”
• Debt Capacity and Tests of Capital Structure Theories (2010, background): “Myers (1977) argues that firms with more growth opportunities have a greater potential for underinvestment problems arising from the use of debt.”
• Human Capital, Capital Structure, and Employee Pay: An Empirical Analysis (2013, methodology): “The empirical literature also supports the positive relation between marginal tax rate and leverage (see, e.g., Leary and Roberts, 2010).”
• Determinants of capital structure in emerging markets: evidence from Vietnam (2017, background): “However, all of these theories have failed to yield conclusive evidence and commonly accepted agreement (Graham 2000; Leary & Roberts 2010).”
• Family Control and Financing Decisions (2011, unknown): “Equally important, the predictions of conventional capital structure theories, such as the trade-off and pecking order hypothesis, have exclusively been tested on nonfamily-owned public firms (Shyam-Sunder and Myers (1999), Frank and Goyal (2003, 2008), Leary and Roberts (2010)).”
• The Mystery of Zero-Leverage Firms (2013, unknown): “The book leverage ratio is defined similarly in most recent capital structure papers (e.g., Lemmon, Roberts, and Zender, 2008; Graham and Leary, 2011; Leary and Roberts, 2010; Lemmon and Zender, 2010).”