Zhao, Jianmei; Katchova, Ani L.; Barry, Peter J. - Agricultural and Applied Economics Association - AAEA - 2004
assumption of asymmetric information, the pecking order theory proposes the financing order for farm businesses, which implies a … order theory and the signaling theory for farm businesses. The results show that farm businesses not only follow the pecking … order theory but also the signaling theory. In addition, unlike corporate firms who can choose high leverage as financing …