Firm Characteristics as Determinants of Capital Structures in Australia

References

• Allen , David E. 1991 . The determinants of the capital structure of listed Australian companies: the financial manager's perspective . Australian Journal of Management , 16 : 102 – 28 .
   Google Scholar
• Allen , David E. 1993 . The pecking‐order hypothesis: Australian evidence . Applied Financial Economics , 3 : 101 – 12 .
   Google Scholar
• Bancel , Franck and Mittoo , Usha R. 2004 . Cross‐country determinants of capital structure choice: a survey of European firms . Financial Management , 33 : 103 – 32 .
   Web of Science ®Google Scholar
• Barclay , Michael J. and Smith , Clifford W. Jr. 2003 . “ The capital structure puzzle: another look at the evidence ” . In The Revolution in Corporate Finance , Edited by: Stern , Joel M. and Chew , Donald H. Jr. 152 – 66 . MA, , USA, Oxford, UK and Victoria, Australia : Blackwell .
   Google Scholar
• Baskin , Jonathan . 1989 . An empirical investigation of the pecking order hypothesis . Financial Management , 18 : 26 – 35 .
   Web of Science ®Google Scholar
• Beattie , Vivien , Goodacre , Alan and Thomson , Sarah Jane . 2006 . Corporate financing decisions: UK survey evidence . Journal of Business Finance and Accounting , 33 : 1402 – 34 .
   Web of Science ®Google Scholar
• Bhabra , Harjeet S. , Liu , Tong and Tirtiroglu , Dogan . 2008 . Capital structure choice in a nascent market: evidence from listed firms in China . Financial Management , 37 : 341 – 64 .
   Web of Science ®Google Scholar
• Bharath , Sreedhar T. , Pasquariello , Paolo and Wu , Guojun . Does asymmetric information drive capital structure decisions? . EFA 2006 Zurich Meetings . Available at: http://ssrn.com/abstract=789725
   Google Scholar
• Bradley , Michael , Jarrell , Gregg A. and Kim , E. Han . 1984 . On the existence of an optimal capital structure: theory and evidence . Journal of Finance , 39 : 857 – 78 .
   Web of Science ®Google Scholar
• Brennan , Michael J. and Schwartz , Eduardo . 1984 . Optimal financial policy and firm valuation . Journal of Finance , 39 : 593 – 607 .
   Web of Science ®Google Scholar
• Brounen , Dirk , de Jong , Abe and Koedijk , Kees . 2006 . Capital structure policies in Europe: survey evidence . Journal of Banking and Finance , 30 : 1409 – 42 .
   Web of Science ®Google Scholar
• Cassar , Gavin and Holmes , Scott . 2003 . Capital structure and financing of SMEs: Australian evidence . Accounting and Finance , 43 : 123 – 47 .
   Google Scholar
• Castanias , Richard . 1983 . Bankruptcy risk and optimal capital structure . Journal of Finance , 38 : 1617 – 35 .
   Web of Science ®Google Scholar
• Chevalier , Judith A. 1995 . Do LBO supermarkets charge more? An empirical analysis of the effects of LBOs on supermarket pricing . Journal of Finance , 50 : 1095 – 112 .
   Web of Science ®Google Scholar
• Chittenden , Francis , Hall , Graham and Hutchinson , Patrick . 1996 . Small firm growth, access to capital markets and financial structure: review of issues and an empirical investigation . Small Business Economics , 8 : 59 – 67 .
   Web of Science ®Google Scholar
• Dammon , Robert M. and Senbet , Lemma W. 1988 . The effect of taxes and depreciation on corporate investment and financial leverage . Journal of Finance , 43 : 357 – 73 .
   Web of Science ®Google Scholar
• DeAngelo , Harry and Masulis , Ronald W. 1980 . Optimal capital structure under corporate and personal taxation . Journal of Financial Economics , 8 : 3 – 29 .
   Web of Science ®Google Scholar
• Deesomsak , Rataporn , Paudyal , Krishna and Pescetto , Gioia . 2004 . The determinants of capital structure: evidence from the Asia Pacific region . Journal of Multinational Financial Management , 14 : 387 – 405 .
   Google Scholar
• Denis , David J. and Denis , Diane K. 1993 . Leveraged recaps in the curbing of corporate overinvestment . Journal of Applied Corporate Finance , 6 : 60 – 71 .
   Google Scholar
• Eriotis , Nikolaos , Vasiliou , Dimitrios and Ventoura‐Neokosmidi , Zoe . 2007 . How firm characteristics affect capital structure: an empirical study . Managerial Finance , 33 : 321 – 31 .
   Web of Science ®Google Scholar
• Fama , Eugene F. and French , Kenneth R. 1998 . Taxes, financing costs, and firm value . Journal of Finance , 53 : 819 – 43 .
   Web of Science ®Google Scholar
• Fama , Eugene F. and MacBeth , James D. 1973 . Risk, return, and equilibrium: empirical tests . Journal of Political Economy , 81 : 607 – 36 .
   Web of Science ®Google Scholar
• Frank , Murray Z. and Goyal , Vidhan K. 2003 . Testing the pecking order of capital structure . Journal of Financial Economics , 67 : 217 – 48 .
   Web of Science ®Google Scholar
• Gaud , Philippe , Hoesli , Martin and Bender , André . 2007 . Debt–equity choice in Europe . International Review of Financial Analysis , 16 : 201 – 22 .
   Google Scholar
• Graham , John R. 2000 . How big are the tax benefits of debt? . Journal of Finance , 55 : 1901 – 41 .
   Web of Science ®Google Scholar
• Graham , John R. and Harvey , Campbell R. 2001 . The theory and practice of corporate finance: evidence from the field . Journal of Financial Economics , 60 : 187 – 243 .
   Web of Science ®Google Scholar
• Hall , Graham C. , Hutchinson , Patrick J. and Michaelas , Nicos . 2004 . Determinants of the capital structures of European SMEs . Journal of Business Finance and Accounting , 31 : 711 – 28 .
   Google Scholar
• Hamada , Robert S. 1972 . The effect of the firm's capital structure on the systematic risk of common stocks . Journal of Finance , 27 : 435 – 52 .
   Web of Science ®Google Scholar
• Harris , Milton and Raviv , Artur . 1991 . The theory of capital structure . The Journal of Finance , XLVL : 297 – 355 .
   Google Scholar
• Hovakimian , Armen , Hovakimian , Gayane and Tehranian , Hassan . 2004 . Determinants of target capital structure: the case of dual debt and equity issues . Journal of Financial Economics , 71 : 517 – 40 .
   Web of Science ®Google Scholar
• Hovakimian , Armen , Opler , Tim and Titman , Sheridan . 2001 . The debt–equity choice . Journal of Financial and Quantitative Analysis , 36 : 1 – 24 .
   Web of Science ®Google Scholar
• Jensen , Michael C. 1986 . Agency costs of free cash flow, corporate finance and takeovers . American Economic Review , 76 : 323 – 30 .
   Web of Science ®Google Scholar
• Jensen , Michael C. and Meckling , William H. 1976 . Theory of the firm: managerial behavior, agency costs and ownership structure . Journal of Financial Economics , 3 : 305 – 60 .
   Web of Science ®Google Scholar
• Ju , Nengjiu , Parrino , Robert , Poteshman , Allen M. and Weisbach , Michael S. 2005 . Horses and rabbits? Trade‐off theory and optimal capital structure . Journal of Financial and Quantitative Analysis , 40 : 259 – 81 .
   Web of Science ®Google Scholar
• Lemmon , Michael L. , Roberts , Michael R. and Zender , Jaime F. 2008 . Back to the beginning: persistence and the cross‐section of corporate capital structure . The Journal of Finance , LXIII : 1575 – 608 .
   Google Scholar
• Li , David D. and Li , Shan . 1996 . A theory of corporate scope and financial structure . Journal of Finance , 51 : 691 – 709 .
   Google Scholar
• Margaritis , Dimitris and Psillaki , Maria . 2007 . Capital structure and firm efficiency . Journal of Business Finance and Accounting , 34 : 1447 – 69 .
   Web of Science ®Google Scholar
• Miller , Merton H. 1977 . Debt and taxes . Journal of Finance , 32 : 261 – 75 .
   Web of Science ®Google Scholar
• Miller , Merton H. 1988 . The Modigliani–Miller propositions after thirty years . Journal of Economic Perspectives , 2 : 99 – 121 .
   Web of Science ®Google Scholar
• Modigliani , Franco and Miller , Merton H. 1958 . The cost of capital, corporation finance and the theory of investment . American Economic Review , 48 : 261 – 97 .
   Web of Science ®Google Scholar
• Modigliani , Franco and Miller , Merton H. 1963 . Corporation income taxes and the cost of capital: a correction . American Economic Review , 53 : 433 – 43 .
   Web of Science ®Google Scholar
• Myers , Stewart C. 1984 . The capital structure puzzle . Journal of Finance , 39 : 575 – 83 .
   Web of Science ®Google Scholar
• Myers , Stewart C. 1993 . Still searching for the optimal capital structure . Journal of Applied Corporate Finance , 6 : 4 – 14 .
   Google Scholar
• Myers , Stewart C. and Majluf , Nicholas S. 1984 . Corporate financing and investment decisions when firms have information that investors do not have . Journal of Financial Economics , 13 : 187 – 221 .
   Web of Science ®Google Scholar
• Rajan , Raghuram G. and Zingales , Luigi . 1995 . What do we know about capital structure: some evidence from international data . Journal of Finance , 50 : 1421 – 60 .
   Web of Science ®Google Scholar
• Roden , Dianne M. and Lewellen , Wilbur G. 1995 . Corporate capital structure decisions: evidence from leveraged buyouts . Financial Management , 24 : 76 – 87 .
   Web of Science ®Google Scholar
• Ross , Stephen A. 1977 . The determination of financial structure: the incentive‐signaling approach . Bell Journal of Economics , 8 : 23 – 41 .
   Google Scholar
• Shyam‐Sunder , Lakshmi and Myers , Stewart C. 1999 . Testing static tradeoff against pecking order models of capital structure . Journal of Financial Economics , 51 : 219 – 44 .
   Web of Science ®Google Scholar
• Smith , Clifford Jr. and Warner , Jerold B. 1979 . On financial contracting: an analysis of bond covenants . Journal of Financial Economics , 7 : 117 – 61 .
   Web of Science ®Google Scholar
• Stiglitz , Joseph E. 1974 . On the irrelevance of corporate financial policy . American Economic Review , 64 : 851 – 67 .
   Web of Science ®Google Scholar
• Stiglitz , Joseph E. 1988 . Why financial structure matters . Journal of Economic Perspectives , 2 : 121 – 7 .
   Web of Science ®Google Scholar
• Titman , Sheridan . 1984 . The effect of capital structure on a firm's liquidation decision . Journal of Financial Economics , 13 : 137 – 51 .
   Web of Science ®Google Scholar
• Titman , Sheridan and Wessels , Roberto . 1988 . The determinants of capital structure choice . Journal of Finance , 43 : 1 – 19 .
   Web of Science ®Google Scholar
• Twite , Garry . 2001 . Capital structure and taxes: evidence from the Australian dividend imputation tax system . International Review of Finance , 2 : 217 – 34 .
   Google Scholar
• Warner , Jerold B. 1977 . Bankruptcy costs: some evidence . Journal of Finance , 32 : 337 – 47 .
   Web of Science ®Google Scholar
• Welch , Ivo . 2004 . Capital structure and stock returns . Journal of Political Economy , 112 : 106 – 31 .
   Web of Science ®Google Scholar