Investors Sentiments and Firm Financial Leverage: An Examination of Market Timing and Debt Capacity Theories
The argument of the market timing theory assumes that when the valuation is overvalued, the issuance of new shares prevents the issuance of debt and financial leverage. On the contrary, the argument of the debt capacity theory assumes that the tendency to increase the future cash flows of frims that...
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| Main Authors: | , , , |
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| Format: | Article |
| Language: | fas |
| Published: |
Alzahra University
2025-06-01
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| Series: | راهبرد مدیریت مالی |
| Subjects: | |
| Online Access: | https://jfm.alzahra.ac.ir/article_8670_f8e531feb3fd9b4578385fc872b78af5.pdf |
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