Sánchez-Vidal, Javier; Martín-Ugedo, Juan - In: Review of Quantitative Finance and Accounting 25 (2005) 4, pp. 341-355
This paper analyses some of the empirical implications of the pecking order theory in the Spanish market using a panel … data analysis of 1,566 firms over 1994–2000. The results show that the pecking order theory holds for most subsamples …