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Capital Structure Decisions in Small and Large Firms: A Life-cycle Theory of Financing

Fluck, Zsuzsanna
NYU Faculty Digital Archive · Papers
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capital-structurematurity
Abstract This paper focuses on the dynamic capital structure of firms: Why firms choose very different capital structure in different stages of their life-cycles? In a model of optimal financial contracting, we investigate whether subsequent financing decisions of firms are affected by the o
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