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Testing Competing Capital Structure Theories of Nonprofit Organizations

✍ Scribed by Thad D. Calabrese

Book ID: 109164916
Publisher: John Wiley and Sons
Year: 2011
Tongue: English
Weight: 132 KB
Volume: 31
Category: Article
ISSN: 0275-1100
DOI: 10.1111/j.1540-5850.2011.00989.x

No coin nor oath required. For personal study only.

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## Abstract We examine the impact of explicitly incorporating a measure of debt capacity in recent tests of competing theories of capital structure. Our main results are that if external funds are required, in the absence of debt capacity concerns, debt appears to be preferred to equity. Concerns o