We argue that individual characteristics of managers can explain capital structure decisions like debt conservatism and pecking-order financing choices. Moreover, they can explain cross-sectional variation in these decisions despite identical firm characteristics. We link the reluctance of...

For materials with magnetic phase transition, researchers have tried to find a simple magnetic method that can replace the calorimetric technique for determining the type of phase transition. Recently, the researchers provide a quantitative characteristic of first-order magnetic phase...