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Abstract
The principal objective of this article is to investigate the adjustment process toward target capital structure and analyze the impact of well-know firm characteristic variables on the speed of adjustment toward target debt ratio. Specifically, firms that tend to undertake quick adjustment have high profitability, low growth opportunities, limited tangible assets and small size, and then suggest some implication for the target to maximize firm value.
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Article Details
Issue: Vol 14 No 3 (2011)
Page No.: 22-39
Published: Sep 30, 2011
Section: Economics, Law and Management - Research article
DOI: https://doi.org/10.32508/stdj.v14i3.1976
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Copyright: The Authors. This is an open access article distributed under the terms of the Creative Commons Attribution License CC-BY 4.0., which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.
How to Cite
Tran, S. (2011). FIRM CHARACTERISTICS AND PARTIAL ADJUSMENT TOWARD TARGET CAPITAL STRUCTURE. VNUHCM Journal of Science and Technology Development, 14(3), 22-39. https://doi.org/https://doi.org/10.32508/stdj.v14i3.1976
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