Debt, Equity, and the Pecking Order: Evidence from Financing Decisions of Dividend-Paying Firms
This study investigates whether, and to what extent, dividend-paying firms follow pecking order behavior when altering their capital structure. Using a panel of 3173 U.S. firms from 1960 to 2020 (49,424 firm-year observations), we examine four financing activities: equity and debt issuance under a f...
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| Hoofdauteurs: | , |
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| Formaat: | Artigo |
| Taal: | Inglês |
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MDPI AG
2025-09-01
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| Reeks: | International Journal of Financial Studies |
| Onderwerpen: | |
| Online toegang: | https://www.mdpi.com/2227-7072/13/3/161 |
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