Lin, Jane-Raung; Wang, Chia-Jane; Chou, De-Wei; Chueh, … - In: International Review of Economics & Finance 27 (2013) C, pp. 171-182
Earlier studies suggest that companies use debt and leases interchangeably as the alternative external financing choice. We provide evidence that firms are not indifferent between debt and leases and the lease versus debt decision depends on the extent to which firms are financially constrained....