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Keywords: Pecking order theory
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Journal Articles
Leverage and firm performance: new evidence on the role of economic sentiment using accounting information
Open Access
Journal:
Journal of Capital Markets Studies
Journal of Capital Markets Studies (2021) 5 (1): 96–107.
Published: 22 February 2021
... allow for an indirect impact of economy-wide expectations operating via their coexistence with firms' balance sheet factors. Second, it is tested whether the behaviour of listed firms as regards to debt follows the pecking order theory. Design/methodology/approach The authors use the panel data...
