Corporate strategy and capital structure

Sidney L. Barton and Paul J. Gordon

Strategic Management Journal, 1988, vol. 9, issue 6, 623-632

Abstract: The basic thesis of this exploratory investigation was that a corporate strategy perspective may complement the traditional financial paradigm in explaining capital structure in large U.S. corporations. Earlier fusion of strategic and financial literature led to a series of propositions antecedent to this work. Inclusion of Rumelt's diversification categories plus elsewhere validated financial contextual variables led to hypotheses for the present study. Results suggest a managerial choice perspective may help to explain the capital structure choice at the firm level of analysis.

Date: 1988
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