Treść książki
Przejdź do opcji czytnikaPrzejdź do nawigacjiPrzejdź do informacjiPrzejdź do stopki
28
TomaszBerent,SebastianJasinowski
Table1.cont.
D/E
(14%)
(D+E)/E
(2%)
E/D
(1%)
D
(10%)
dummy
(5%)
[2003],Sun,Tong[2003],Dennis,Mayhew[2002],Goyal,Lehn,Racic[2002],Mansi
Reeb[2002],Goyal,Lehn,Racic[2002],Busaba,Benveniste,Guo[2001],Peyer,
Shivdasan[2001],Haushalter[2000].
Atanassov,Kim[2009],Hahn,Lee[2009],Lee,Ng,Swaminathan[2009],Livdan,
Sapriza,Zhang[2009],Stein[2009],Avramov,Chordia,Jostova,Philipov[2007],
Strebulaev[2007],Ju,Parrino,Poteshman,Weisbach[2005],Ferguson,Shockley
[2003],Frank,Goyal[2003],Sun,Tong[2003],Novaes[2002],Collin-Dufresne,
Goldstein[2001].
Gupta,Liang[2005],Ang,Chen[2002].
Duffie,Saita,Wang[2007].
Hennessy,Livdan[2009],Leary[2009],Banerjee,Dasgupta,Kim[2008],Brown,
Goetzmann,Liang,Schwarz[2008],DeMarzo,Sannikov[2006],Cadenillas,
Cvitani,Zapatero[2004],Bris,Koskinen[2002],Buraschi,Menini[2002],Eckbo,
Masulis,Norli[2000].
Leary[2009],Banerjee,Dasgupta,Kim[2008],Brown,Goetzmann,Liang,Schwarz
[2008],Chan,Ikenberry,Lee[2004],Haushalter[2000].
Source:ownwork.
Thisdiffersonlyslightlyfromtheapproachofthetextbookswheretheshareof
debtanddebt-to-equityratiosismoreevenlyspread,withanequitymultiplier,altho-
ughleastpopularintextbookstoo,usedinmorebooksthaninpapers.
Astodebtmaturity,incontrasttothebooksreviewed,themajorityofarticles
takeexplicitlybothlongandshort-termdebtintoaccount.Only22%chooselong-
termdebt(Table2).
Table2.Debtmaturityinleveragemeasuresinfinancepapers
longandshort-
term(70%)
Debt
1
He[2011],Chava,Purnanandam[2010],George,Hwang[2010],Ovtchinnikov[2010],Avramov,
Chordia,Jostova,Philipov[2009],Berkman,Dimitrov,Jain,Koch,Tice[2009],Chang,Dasgupta
[2009],Chemmanur,Paeglis,Simonyan[2009],Hahn,Lee[2009],Harford,Klasa,Walcott[2009],
Hennessy,Livdan[2009],Kisgen[2009],Leary[2009],Lee,Ng,Swaminathan[2009],Livdan,
Sapriza,Zhang[2009],Ovtchinnikov,McConnell[2009],Qiu,Yu[2009],Sibilkov[2009],Stein
[2009],Desai,Foley,Hines[2008],Francis,Hasan,Hunter[2008],Huizinga,Laeven,Nicodeme
[2008],Lemmon,Roberts,Zender[2008],Morellec,Zhdanov[2008],Purnanandam[2008],Tser-
lukevich[2008],Tsyplakov[2008],Avramov,Chordia,Jostova,Philipov[2007],Billett,Dolly
King,Mauer[2007],Duffie,Saita,Wang[2007],Hennessy,Whited[2007],Kale,Shahrur[2007],
Marosi,Massoud[2007],Strebulaev[2007],Wald,Long[2007]Zhdanov[2007],Ahn,Denis,
Denis[2006],Alti[2006],Coles,Daniel,Naveen[2006],DeMarzo,Sannikov[2006],Flannery,
Rangan[2006],Hackbarth,Miao,Morellec[2006],Hovakimian[2006],Lewellen[2006],Mitton
[2006],Bates[2005],Hennessy,Whited[2005],Ju,Parrino,Poteshman,Weisbach[2005],Leary,
Roberts[2005],Miao[2005],Molina[2005],Billett,DollyKing,Mauer[2004],Chan,Ikenber-
ry,Lee[2004],Hovakimian,Hovakimian,Tehranian[2004],Ferguson,Shockley[2003],Frank,
Goyal[2003],Giannetti[2003],Korajczyk,Levy[2003],Sun,Tong[2003],Buraschi,Menini
[2002],Goyal,Lehn,Racic[2002],Novaes[2002],Peyer,Shivdasan[2001],Haushalter[2000].
Paper
2
