Brounen, Dirk (contributor); Jong, Abe de (contributor); … - 2005
, bankruptcy costs and agency
problems are well-established. More recently, the pecking-order theory has been added
as a … European sample. However, the importance of
flexibility is not driven by the pecking-order theory. In line with Graham and …-based theories, such
as the pecking-order theory. Section 6 investigates the practical relevance of agency
theory in capital …