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dc.contributor.authorKhoo, Joye
dc.contributor.authorDurand, Robert B.
dc.contributor.authorHarris, Mark N.
dc.identifier.citationKhoo, J. and Durand, R.B. and Harris, M. 2018. Reconciling divergent findings on the speed of leverage adjustment. In: 2018 New Zealand Finance Meeting, 17th Dec 2018, Queenstown, New Zealand.

Estimates of firms’ speeds of leverage adjustment (SOAs) vary wildly. Studies producing these estimates impose a strong constraint: An average SOAis estimated for all firms in a sample. Using finite mixture models (FMM) we uncover four distinct types of behaviors characterizing SOAs. The four behaviors in this regard can be classified as: Nearly stable (SOA= 2%); slower adjusters(SOA= 28%);faster adjusters(SOA= 62%) and drifters (SOA= -3%) who slowly move away from estimated leverage targets.

dc.titleReconciling divergent findings on the speed of leverage adjustment
dc.typeConference Paper
dcterms.source.conference2018 New Zealand Finance Meeting
dcterms.source.conference-start-date17 Dec 2018
curtin.departmentSchool of Economics, Finance and Property
curtin.accessStatusFulltext not available
curtin.facultyFaculty of Business and Law
curtin.contributor.orcidKhoo, Joye [0000-0001-9765-7364]
curtin.contributor.orcidHarris, Mark [0000-0002-1804-4357]
dcterms.source.conference-end-date19 Dec 2018
curtin.contributor.scopusauthoridKhoo, Joye [56682654600]
curtin.contributor.scopusauthoridHarris, Mark [35561581200] [55310794400]

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