Jindrichovska, Irena; Ugurlu, Erginbay; Kubickova, Dana - In: Ekonomika a managment 2013 (2013) 3, pp. 6-26
enterprises (SMEs): pecking order theory and trade-off theory. The theoretical section provides an overview of contemporary … theories of capital structure. According to the pecking order theory changes in the level of debt are not motivated by the need …–2011 using annual data. To test pecking order theory and trade-off theory we use total debt ratio as a dependent variable and …