Persistence of initial debt in the long-term employment dynamics of new firms

Robert Petrunia

Canadian Journal of Economics, 2007, vol. 40, issue 3, 861-880

Abstract: procedure. I then test the hypothesis that initial debt-to-asset ratios are irrelevant to growth of ten-year old manufacturing firms. I reject the null of independence, and find evidence of a non-monotonic relationship between age ten conditional size and the initial debt-to-asset ratio.

JEL-codes: D21 G3 (search for similar items in EconPapers)
Date: 2007
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