Dang, Viet Anh; Kim, Minjoo; Shin, Yongcheol - In: International Review of Financial Analysis 33 (2014) C, pp. 226-242
We employ dynamic threshold partial adjustment models to study the asymmetries in firms' adjustments toward their target leverage. Using a sample of US firms over the period 2002–2012, we document a negative impact of the Global Financial Crisis on the speed of leverage adjustment. In our...