Fahn, Matthias; Merlo, Valeria; Wamser, Georg - CESifo - 2014
Existing theories of a firm’s optimal capital structure seem to fail in explaining why many healthy and profitable … theory are in line with a number of empirical results, which seem to stay in contrast to existing theories on capital … structure. Our findings also carry new implications for how policies (e.g., tax policy) affect firm behavior. …