EconPapers    
Economics at your fingertips  
 

Financial institutions, asymmetric information and capital structure adjustments

Alexandre Ripamonti

The Quarterly Review of Economics and Finance, 2020, vol. 77, issue C, 75-83

Abstract: Capital structure studies of financial institutions have observed identical facts to those of non-financial corporations, especially in relation to capital structure adjustments (dynamic trade-off theory) and asymmetric information. This study examined data from 64 NYSE-listed financial corporations for 91 quarters through Johansen-Fisher panel cointegration model. The target capital structure was measured by the average D/E for the entire period and asymmetric information was measured by Corwin-Schultz´s S_2.

Keywords: Asymmetric information; Financial industry; Market microstructure; Financial management; Capital structure adjustments; Johansen-Fisher panel cointegration (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S1062976920300107
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:quaeco:v:77:y:2020:i:c:p:75-83

DOI: 10.1016/j.qref.2020.01.010

Access Statistics for this article

The Quarterly Review of Economics and Finance is currently edited by R. J. Arnould and J. E. Finnerty

More articles in The Quarterly Review of Economics and Finance from Elsevier
Bibliographic data for series maintained by Haili He ().

 
Page updated 2020-10-17
Handle: RePEc:eee:quaeco:v:77:y:2020:i:c:p:75-83