Capital Structure Models: Adjustments for Nonpublic Traded Companies

Lucie Poulová ()
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Lucie Poulová: University of Economics

A chapter in Global Versus Local Perspectives on Finance and Accounting, 2019, pp 177-185 from Springer

Abstract: Abstract This article introduces two modern capital structure theories following up the related empirical papers and studies focusing on models formulated in 1999 by Shyam-Sunder and Myers. They presented simple models for testing the validity of two modern capital structure theories—trade-off theory and pecking order theory. However, most of the available studies focus on public traded companies from developed markets. The aim of this paper is to propose necessary adjustments for these models to be used for nonpublic traded companies as well.

Keywords: Capital structure; Joint stock companies; Debt ratio; Trade-off theory; Pecking order theory (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-030-11851-8_17

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DOI: 10.1007/978-3-030-11851-8_17

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