We use a dynamic adjustment model and panel methodology to investigate the determinants of a time- varying optimal capital structure. Because firms may temporarily deviate from their optimal capital structure in the presence of adjustment costs, we also endogenize the adjustment process. In...

We use a dynamic framework and panel methodology to investigate the determinants of a firms' time-varying capital structure. Our sample comprises 706 European firms from France, Germany, Italy and the U.K. over the period from 1983 to 2002. If capital structure adjustment is costly, firms may...

Our paper investigates the geographical distribution of physicians across the Swiss cantons over the years 1960 to 2005. We use a physician location model relating physician growth in a canton related to (i) the existing number of physicians in an area, (ii) commonly used determinants of the...