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Corporate Governance and Capital Structure Dynamics by zin zandi is a document available to read on EtoBox.

This document summarizes a research paper that examines how corporate governance quality affects the speed at which firms adjust their capital structures toward a target level. The paper finds that firms with weak corporate governance adjust slowly toward their target debt levels, regardless of whether they are currently overlevered or underlevered. For underlevered firms, weak governance leads to slow adjustment because the disciplinary costs of debt outweigh its benefits as a takeover defense. For overlev

Author

zin zandi

Language

EN