<<
>>

Список использованных источников

1. Абе Н. и др. Российская корпорация: внутренняя организация, внешние взаимодействия, перспективы развития/ под ред. Т.Г. Долгопятовой, И.Ивасаки, А.А. Яковлева; Гос. Ун-т - Высшая школа экономики.

- М.: Изд.дом ГУ ВШЭ, 2007 - 542 с.

2. Березинец И.В., Размочаев А.В., Волков Д.Л. Финансовые решения российских компаний: результаты эмпирического анализа. Вестник Санкт-Петербургского университета, сер.8, Вып.1, 2010, с.107-130

3. Бородина С., Швырков О. Инвестиции в странах БРИК: Оценка риска и корпоративного управления в Бразилии, России, Индии и Китае / Под ред. С. Бородиной и О.Швыркова при участии Ж.-К. Буи; Пер. с англ. - М.: Альпина Паблишерз, 2010. - 356 с.

4. Герасимова С.М. Эмпирические исследования структуры капитала компаний на развивающихся рынках: специфика и методология. Электронный журнал «Корпоративные финансы», №1(21), 2012, с.97-109

5. Зинкевич Н.В., Олеванова Е.А. Эмпирическое тестирование теорий структуры капитала: модели, направления, результаты. Электронный журнал «Корпоративные финансы», 1(5), 2008, с.82­103

6. Ибрагимов Р.Г. Влияние нерыночного долгового финансирования на стоимость капитала и ценность компании. Российский журнал менеджмента, 5 (1), с. 67-84

7. Ивашковская И. В., Солнцева М. С. (Кокорева). Детерминанты стратегических решений о финансировании крупных компаний на развивающихся рынках капитала: пример

131

России, Бразилии и Китая. Российский журнал менеджмента Т.7, №1, 2009 г., 25-42

8. Ивашковская И.В. Моделирование стоимости компании

стратегическая ответственность советов директоров. - М.:

ИНФРА-М, 2009. - 430 с. - (Научная мысль).

9. Ивашковская И.В., Кокорева М.С., Степанова А.Н. и др. Корпоративные финансовые решения. Эмпирический анализ российских компаний (корпоративные финансовые решения на развивающихся рынках капитала): Монография / Под науч. ред. И.В. Ивашковской.

— М.: ИНФРА'М, 2012. — 282 с. — (Научная мысль).

10. Ивашковская И.В., Куприянов А. Структура капитала: резервы создания стоимости для собственников компании. Журнал Управление компанией (ЖУК) 02(45) 2005, с. 34-38

11. Ивашковская И.В., Макаров П.В. Действуют ли классические концепции выбора структуры капитала на развивающихся рынках? Эмпирический анализ компаний Восточной и Центральной Европы. Электронный журнал «Корпоративные финансы» , №3(15), 2010,47-62

12. Ивашковская И.В., Солнцева М.С. Структура капитала в российских компаниях как стратегическое решение, Вестник Санкт-Петербургского университета, Сер. 8, Вып.3, 2008, 3-32

13. Ивашковская И.В., Степанова А.Н. Финансовая архитектура фирмы: структура собственности и корпоративная эффективность на растущих рынках капитала. Эмпирическое исследование. Финансы и бизнес, 2009. № 3. C. 1—22

14. Лимитовский М.А. Модель влияния структуры капитала на ценность компании, основанная на реалистичных допущениях. Корпоративный финансовый менеджмент, 1, с. 36-48

132

15. Лимитовский М.А. Рынок заемного капитала: «супермаркет» или «базар»? Российский журнал менеджмента, Том 6, №1, 2008, с. 53-56

16. Михайлов А.В. Эмпирическая проверка положений статической компромиссной теории структуры капитала: сравнение по различным странам. Журнал «Корпоративные финансы», 3 (7), 2008, с. 56-61

17. Нефедов Д.А. Методы аппроксимации и количественной оценки издержек финансовой неустойчивости. Журнал «Корпоративные финансы», 3(7), 2008, с. 62-67

18. Пономарева О.А. Динамическая концепция структуры капитала: история возникновения, эволюция и основные исследовательские вопросы. Журнал «Корпоративные финансы», 2(6), 2008, с. 78-91

19. Ратникова Т.А. Введение в эконометрический анализ панельных данных. М.: Изд.дом Гос.ун-та - Высшей школы экономики, 2010. - 192 с.

20. Рудык Н.Б. Структура капитала корпораций: теория и практика. - М.: Дело, 2004. - 272 с.

21. Семенова Е., Смирнова И. Исследования издержек финансовой неустойчивости в рамках компромиссной теории структуры капитала: обзор.

Электронный журнал «Корпоративные финансы», 3, 2007, с.102-113

22. Солодухина А.В., Репин Д.В. В поисках решения загадки структуры капитала: поведенческий подход. Электронный журнал «Корпоративные финансы», 2008, №5, с. 104-119

23. Уилсон У.Т., Ушаков Н. Дивный новый мир. Классификация стран с быстроразвивающимися рынками - новая методология, Индекс быстроразвивающихся рынков СКОЛКОВО, 2011.

133

Тематический доклад SIEMS. Институт исследования быстрорастущих рынков СКОЛКОВО. - 64 с.

24. Adedeji A. A cross-sectional test of Pecking Order Hypothesis

against Static Trade-off Theory on UK data. Working paper, 2002 Available at SSRN: http://ssrn.com/abstract=302827 or

http://dx.doi.org/10.2139/ssrn.302827

25. Ahmed H.J.A., Hisham N. Revisiting Capital Structure Theory: A Test of Pecking Order and Static Trade-of Model from Malaysian Capital Market. International Research Journal of Finance and Economics. Issue 30, 2009, p.58-65

26. Alti A. How Persistent Is the Impact of Market Timing on

Capital Structure? (October 14, 2003). AFA 2005 Philadelphia Meetings; University of Texas at Austin Working Paper; 6th Annual Texas Finance Festival. Available at SSRN: http://ssrn.com/abstract=458640 or

http://dx.doi.org/10.2139/ssrn.458640

27. Altman E. A Further Empirical Investigation of the Bankruptcy Cost Question. Journal of Finance, 1984, pp.1067-1090

28. Alves P.F.P., Ferreira M.A. Capital structure and law around the world. Journal of Multinational Financial Management, 21, 2011, pp.119-150

29. Anderson, T. W. and C. Hsiao, 1982, Formulation and Estimation of Dynamic Models Using Panel Data, Journal of Econometrics, 18, 47-82

30. Andrade G., Kaplan S.N. How Costly Is Financial (Not Economics) Distress? Evidence from Highly Leveraged Transactions That Became Distressed. The Journal of Finance. Vol. 53, No.5, (Oct., 1998), pp.1443-1493

31. Ang J.S., Cole R.A., Lin J.W. Agency costs and ownership

134

structure. The Journal of Finance, Vol.

55, № 1 (Feb., 2000), pp. 81 -

106

32. Antoniou A., Guney Y., Paudyal K. the Determinants of Capital Structure: Capital Market-Oriented versus Bank-Oriented Institutions. Journal of Financial and Quantitative Analysis, Vol. 43? No.1, March 2008, pp.59-92

33. Arellano, M. and S. Bond, 1991, Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations, The Review of Economic Studies, 58, 277 - 297

34. Ariff, M. and Taufiq H. How Capital Structure Adjusts Dynamically During Financial Crises, Corporate Finance Review, 2008, 13, 11-24

35. Atkeson A., Cole H. A Dynamic Theory of Optimal Capital

Structure and Executive Compensation. (January 2005). NBER

Working Paper No. w11083. Available at SSRN:

http://ssrn.com/abstract=652368

36. Baker M., Wurgler J. Market Timing and Capital Structure. The Journal of Finance, 2002, Vol.57, No 1., pp. 1-32

37. Baltagi B.H. Econometric Analysis of panel data. John Wiley & Sons Ltd., 4th ed, 2009, 351 p.

38. Beck T., Demirguς-Kunt A., Maksimovic V. Financing patterns around the world: Are small firms different? Journal of Financial Economics, 89, 2008, pp.467-487

39. Bekaert G., Harvey C.R. Emerging markets finance. Journal of Empirical Finance, 10, 2003, p.3-55

40. Berger P.G., Ofek E., Yermack D.L. Managerial Entrenchment and Capital Structure Decisions. The Journal of Finance. Vol. LII, NO.4, September 1997, 1411-1438

41. Bessler W., Drobetz W., Gruninger M.C. Information

135

Asymmetry and Financing Decisions. International Review of Finance, 11:1, 2011, pp.123-154

42. Bhaduri S. N. Determinants of Capital Structure Choice: a Study of the Indian Sector. Applied Financial Economics, 2002, 12, pp. 655­665

43. Blundell, R.W. and S.R. Bond (1998), Initial Conditions and Moment Restrictions in Dynamic Panel Data Models, Journal of Econometrics, 87, 115-143

44. Bokpin G. Financial market development and corporate financing: evidence from emerging market economies.

Journal of Economic Studies, Volume 37, Issue 1, p.96-116

45. Bokpin G. Macroeconomic development and capital structure decisions of firms: evidence from emerging market economies. Studies in Economics and Finance, Volume 26, Issue 2, p.129-142

46. Booth L., Varouj A., Demirguk-Kunt A., Maksimovic V. Capital Structures in Developing Countries. Journal of Finance, 2001, 56, pp.87-130

47. Bradley M., Gregg A. J., Kim E. H. On the Existence of an Optimal Capital Structure: Theory and Evidence. The Journal of Finance, 1984, Vol. 39, No. 3, Papers and Proceedings, Forty-Second Annual Meeting, American Finance Association, San Francisco, CA, December 28-30, pp. 857-878

48. Brennan M.J., Schwartz E.S. Corporate Income Taxes, Valuation, and the Problem of Optimal Capital Structure. The Journal of Business, 1978, Vol.51, No.1, pp. 103-114

49. Brounen D., de Jong A., Koedijk K. Capital Structure policies in Europe: Survey evidence. Journal of Banking & Finance, 30, 2006, pp.1409-1442

136

50. Buchanan B.G., English P.C., Gordon R. Emerging market benefits, investability and the rule of law. Emerging Markets Review, 12, 2011, p.47-60

51. Byoun S. How and When Do Firms Adjust Their Capital Structures toward Targets? The Journal of Finance. Vol. LXIII, No. 6, December, 2008, pp.3069-3096

52. Cespedes J., Gonzalez M., Molina C.A. Ownership and capital structure in Latin America. Journal of Business Research, 63, 2010, pp.248-254

53. Chakraborty I. Capital Structure in an emerging stock market: The case of India. Research in International Business and Finance, 24 (2010), 295-314

54. Chen, Y., Jermias, J. Business Strategy, Executive

Compensation, and Firm Performance (January 11, 2009). CAAA Annual Conference 2009 Paper. Available at SSRN: http://ssrn.com/abstract=1326183 or

http://dx.doi.org/10.2139/ssrn.1326183

55. Childs P.D., Mauer D.C., Ott S.H. Interactions of corporate financing and investment decisions: The effects of agency conflicts.

Journal of Financial Economics, 76, 2005, pp.667-690

56. Claessens S., Tzioumis K. Ownership and Financing Stuctures of Listed and Large Non-listed Corporations. Corporate Governance. Volume 14, Number 4, July 2006, pp. 266-276

57. Clark B., Francis B., Hasan I. Do firms adjust toward target

capital structures? Some international evidence. (February 2009). Available at SSRN: http://ssrn.com/abstract=1364095 or

http://dx.doi.org/10.2139/ssrn.1364095

137

58. Cook, D. O. and T. Tang, Macroeconomic Conditions and Capital Structure Adjustment Speed, Journal of Corporate Finance,

2010, 16, 73-87

59. Crnigoj M., Mramor D. Determinants of Capital Structure in Emerging European Economies: Evidence from Slovenian Firms. Emerging markets Finance & Trade/January-February 2009, Vol.45, No.1, pp.72-89

60. Dang V.A. Testing capital structure theories using error correction models: evidence from the UK, France and Germany, Applied Economics, 2013, 45:2, 171-190

61. Dang V.A., Kim M., Shin Y. Asymmetric Capital Structure

Adjustments: New Evidence from Dynamic Panel Threshold Models, (March 17, 2012). Journal of Empirical Finance, Forthcoming. Available at SSRN: http://ssrn.com/abstract=1444488 or

http://dx.doi.org/10.2139/ssrn.1444488

62. Danis A., Rettl D.A. Testing Dynamic Tradeoff Theory: Evidence from Rebalancing Points. (July 15, 2011). International Conference of the French Finance Association (AFFI), May 11-13,

2011. Available at SSRN: http://ssrn.com/abstract=1833425 or http://dx.doi.org/10.2139/ssrn.1833425

63. Davis P.E., Stone M.R. Corporate financial structure and financial stability. Journal of Financial Stability, 1 (2004), p.65-91

64. De Haas, R. and M. Peeters, The Dynamic Adjustment Towards Target Capital Structures of Firms in Transition Economies, Economics of Transition, 2006, 14, 133-169

65. De Jong A., Kabir R., Nguyen T.T. Capital structure around the world: the role of firm- and country-specific determinants. Journal of Banking & Finance, 32, 2008, pp.1954-1969

138

66. De Jong, A., Verwijmeren P. To have a target debt ratio or not: what difference does it make? Applied Financial Economics, 2010, 20:3, pp. 219-226

67. De Medeiros O.R., Daher C.E. Testing the Pecking Order Theory

of Capital Structure in Brazilian Firms (December 5, 2005). Available at SSRN: http://ssrn.com/abstract=868466 or

http://dx.doi.org/10.2139/ssrn.868466

68. DeAngelo H., DeAngelo A., Stulz R.M. Seasoned equity offerings, market timing, and the corporate lifecycle. Journal of Financial Economics, 95, 2010, 275-295

69. DeAngelo H., Masulis R. Optimal Capital Structure under Corporate and Personal Taxation. Journal of Financial Economics, 1980, 8, pp.3-29

70. Delcoure N. The determinants of capital structure in transition economies. International Review of Economics and Finance, 16 (2007), p.400-415

71. DeMarzo, Peter M., Sannikov Y. Optimal security design and dynamic capital structure in a continuous-time agency model. Journal of Finance, 2006, 61(6), pp. 2681 - 2724

72. Devos E., Dhillon U., Jagannathan M. Why are firms unlevered? Journal of Corporate Finance, 18, 2012, p.664-682

73. Dittmar A., Thakor A. Why Do Firms Issue Equity? The Journal of Finance, 2007, Vol. LXII, No.1, February, pp.1-54

74. Djankov, S., R. La Porta, F. Lopez-de-Silanes and A. Shleifer,

‘The Law and Economics of Self-Dealing, (December 2005). Available at SSRN: http://ssrn.com/abstract=864645 or

http://dx.doi.org/10.2139/ssrn.864645

75. Donaldson, G., 1961, Corporate Debt Capacity, Harvard University Press, Cambridge, MA.

139

76. Drobetz, W., Wanzenried G. What determines the speed of adjustment to the target capital structure? Applied Financial Economics, 2006, 16, 941-958

77. Dudley E. Testing Models of Dynamic Trade Off Theory. SSRN Working paper. Available at SSRN: http://ssrn.com/abstract=1030119 or http://dx.doi.org/10.2139/ssrn.1030119

78. Elliott W.B., Koeter-Kant J., Warr R.S. Market timing and the debt-equity choice. Journal of Financial Intermediation, 17, 2008, 175­197

79. Ezeoha A., Botha F. Firm age, collateral value, and access to debt financing in an emerging economy: Evidence from South Africa. South African Journal of Economic and Management Sciences. Volume 15, Issue 1, 2012, p.55-71

80. Fama, E. and J. MacBeth, 1973, Risk, Return, and Equilibrium: Empirical Tests, Journal of Political Economy, 81, 607-636

81. Fama, E. and K. French, 2002, Testing Tradeoff and Pecking Order Predictions about Dividends and Debt, Review of Financial Studies, 15, 1-37

82. Farhat J., Cotei C., Abugri B.A. The pecking order hypothesis vs. static trade-off theory under different institutional environments. Working paper, 2006.A Journal On The Theory Of Ordered Sets And Its Applications (2006) Issue: September, Pages: 1-39

83. Fischer E.O., Heinkel R., Zechner J. Optimal Dynamic Capital Structure Choice: Theory and Tests, Journal of Finance, 1989, 44, pp. 19-40

84. Flannery M. J., Rangan K. P. Partial adjustment toward target capital structures. Journal of Financial Economics 79 (2006) 469-506

85. Frank M.Z., Goyal V.K. Testing the pecking order theory of capital structure. Journal of Financial Economics 67 (2003) 217-248

140

86. Frank M.Z., Goyal V.K. Trade-Off and Pecking Order Theories of Debt. Handbook of Empirical Corporate Finance, Volume 2 Edited by B. Espen Eckbo, 2008, p.135-202

87. Frank, M. Z. and V. K. Goyal, Capital Structure Decisions: Which Factors are Reliably Important? Financial Management, 2009, 38, 1-37

88. Gaud P., Hoesli M, Bender A. Debt-equity choice in Europe. International Review of Financial Analysis, 16, 2007, pp. 201-222

89. Gilson S.C. Transactions Costs and Capital Structure Choice: Evidence form Financial Distressed Firms. The Journal of Finance, Vol. 52, No. 1., 1997, pp. 161-196

90. Gleh J., Singh A. Comparing capital structures and rates of return in developed and emerging markets. Emerging Markets Review, 5, 2004, p.161-192

91. Goldstein R., Ju N., Leland H. An EBIT-Based Model of Dynamic Capital Structure. The Journal of Business, Vol. 74, No. 4 (October 2001), pp. 483 - 512

92. Graham J. Debt and the marginal tax rate. Journal of Financial Economics, 41, 1996, 41-73

93. Graham J. How big are the tax advantages to debt? Journal of Finance, 2000, 55, pp. 1901-42

94. Graham J.R., Harvey C.R. The theory and practice of corporate finance: evidence from the field. Journal of Financial Economics, 60, 2001, pp.187-243

95. Graham J.R., Leary M.T. A Review of Empirical Capital Structure Research and Directions for the Future. Annual Review of Financial Economics, 2011, 3:309-345

141

96. Gungoraydinoglu A., Oztekin 0. Firm- and country-level determinants of corporate leverage: Some new international evidence. Journal of Corporate Finance, 17, 2011, p.1457-1474

97. Hackbarth D. Managerial Traits and Capital Structure Decisions. Journal of Financial and Quantitative Analysis, Volume 43, Issue 4, December 2008, pages 843-882

98. Hall T.W. The collateral channel: Evidence on leverage and asset tangibility. Journal of Corporate Finance, 18, 2012, pp.570-583

99. Halov N., Heider F. Capital Structure, Risk and Asymmetric

Information, (November 1, 2011). Available at SSRN:

http://ssrn.com/abstract=566443 or

http://dx.doi.org/10.2139/ssrn.566443

100. Hanousek J., Shamshur A. A stubborn persistence: Is the stability of leverage ratios determined by the stability of the economy? Journal of Corporate Finance Volume 17, Issue 5, December 2011, pp.1360­1376

101. Harris M. Raviv A. Capital Structure and the Informational Role of Debt. The Journal of Finance., Vol. 45, No. 2, (Jun. 1990), pp. 321­349

102. Harris M., Raviv A. The Theory of Capital Structure. The Journal of Finance. Vol. 46, No.1, (Mar. 1991), pp. 297-355

103. Hart O., Moore J. A Theory of Debt Based on the Inalienability of Human Capital. The Quarterly Journal of Economics, 1994, Vol. 109, No. 4, pp. 841-879

104. Haugen R. A. and Senbet L.W. The Insignificance of Bankruptcy Costs to the Theory of Optimal Capital Structure. The Journal of Finance, 1978,Vol. 33, No. 2, pp. 383-393

142

105. Heakal, R. What Is An Emerging Market Economy? Retrieved

August 15, 2009 from

http://www.investopedia.com/articles/03/073003.aspv

106. Hennessy C. A. and Whited T. M. Debt Dynamics. The Journal of Finance, Vol. 60, No. 3 (Jun., 2005), pp. 1129-1165

107. Himmelberg, C.P., Hubbard, R.G., Palia, D. Understanding the determinants of managerial ownership. Journal of Financial Economics, 1999, 53, pp. 353-384

108. Hovakimian A. Are Observed Capital Structures Determined by Equity Market Timing? (June 3, 2003). AFA 2005 Philadelphia Meetings. Available at SSRN: http://ssrn.com/abstract=413387 or http://dx.doi.org/10.2139/ssrn.413387

109. Hovakimian A., Hovakimian G., Tehranian H. Determinants of target capital structure: The case of dual debt and equity issues. Journal of Financial Economics, 71, 2004, p.517-540

110. Hovakimian A., Opler T., Titman S. The Debt-Equity Choice. The Journal of Financial and Quantitative Analysis, Vol.36, № 1, 2001, pp.1-24

111. Hovakimian, A. and G. Li, 2011, In Search of Conclusive Evidence: How to Test for Adjustment to Target Capital Structure, Journal of Corporate Finance, 17, 33-44

112. Huang R., Ritter J.R. Testing theories of capital structure and estimating the speed of adjustment. Journal of Financial and Quantitative Analysis, Vol. 44, No. 2, Apr. 2009, pp.237-271

113. Hull R.M. Leverage Ratios, Industry Norms, and Stock Price Reaction: An Empirical Investigation of Stock-for-Debt Transactions", Financial Management, 1999, 28, 2, 32-45.

143

114. Hussain Q., Nivorozhkin E. The Capital Structure of Listed Companies in Poland. (December 1997). IMF Working Paper, Vol. , pp. 1-27, 1997. Available at SSRN: http://ssrn.com/abstract=883923

115. Icke B.T., Ivgen H. How Firm Specific Factors Affect Capital Structure: An Emerging Market Practice - Istanbul Stock Exchange (ISE). Middle Eastern Finance and Economics. Issue 13, 2011, p.90­102

116. Ivanov I. Capital Structure determinants of Russian public companies.Журнал «Корпоративные финансы», 1(13) 2010, с.5-38

117. Ivashkovskayа I.V., Solntseva M.S. The Capital Structure of Russian Companies: Testing Trade-off Theory versus Pecking Order Theory. Журнал «Корпоративные финансы», №2, 2007, с.17-31

118. Jalilvand A., Harris R.S. Corporate Behavior in Adjusting to Capital Structure and Dividend Targets: an Econometric Study. The Journal of Finance, Vol.39, No.1 (Mar., 1984), pp. 127-145

119. Jensen M.C. Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers. The American Economic Review, 1986, Vol.76, No.2, Papers and Proceedings of the Ninety-Eighth Annual Meeting of the American Economic Association, pp.323-329

120. Jensen M.C., Meckling W., Theory of the Firm: Managerial Behavior, Agency Costs, and Capital Structure. Journal of Financial Economic, 1976, 3, pp.305-360

121. Jenter D. Market Timing and Managerial Portfolio Decisions. Journal of Finance, 2005, 60, 4, pp. 1903—1949.

122. Jiraporn P., Liu Y. Capital Structure, Staggered Boards, and Firm Value. Financial Analyst Journal, Volume 64, No1, pp. 49-60

123. Ju N., Parrino R., Poteshman, Weisbach M.S. Horses and Rabbits? Trade-Off Theory and Optimal Capital Structure. The Journal of Financial and Quantitative Analysis, Vol. 40, No. 2 (Jun., 2005),

144

pp.259-281

124. Kalemni-Ozcan S., Sorensen B., Yesiltas S. Leverage across firms, banks, and countries. Journal of International Economics, forthcoming, 2012, doi:10.1016/j.jinteco.2012.03.002

125. Kayhan, A. and S. Titman, Firms' Histories and Their Capital Structures, Journal of Financial Economics, 2007, 83, 1-32

126. Kim E.H. Miller's Equilibrium, Shareholder Leverage Clienteles, and Optimal Capital Structure. Journal of Finance, 1982, 37, pp. 301­323

127. Kisgen D.J. Do Firms Target Credit Ratings or Leverage Levels?

Journal of Financial and Quantitative Analysis. Vol. 44, No. 6, Dec/ 2009, pp.1323-1344

128. Kokoreva M., Stepanova A. Financial Architecture and Corporate Performance: Evidence from Russia. Электронный журнал «Корпоративные финансы», №2, p. 34-44

129. Korajczyk R.A, Levy A. Capital structure choice: macro economic conditions and financial constraints. Journal of Financial Economics, 68, 2003, pp.75-109

130. Kraus A., Litzenberger R.H. A State-Preference Model of Optimal Financial Leverage. Journal of Finance, 1973, pp. 911-922

131. Leary M.T., Roberts M.R. Do Firms Rebalance Their Capital Structures? The Journal of Finance, 2005, Vol. LX, No6., pp.2575­2619

132. Leary M.T., Roberts M.R. The pecking order, debt capacity, and information asymmetry. Journal of Financial Economics, 95, 2010, pp.332-355

133. Lemmon M.L., Roberts M.R., Zender J.F. Back to the Beginning: Persistence and the Cross-Section of Corporate Capital structure. The Journal of Finance, Vol. LXIII, No.4, August 2008, p. 1575-160

145

134. Lintner J. Distribution of Incomes of Corporations among Dividends, Retained Earnings and Taxes // American Economic Review. 1956. Vol. 46. No 2. P. 97-113

135. MacKay P., Phillips G.M. How Does Industry Affect Firm Financial structure? The Review of Financial Studies, Vol. 18, No.4 (Winter, 2005), pp. 1433-1466

136. Mahadwartha, P.A. Predictability Power of Dividend Policy and Leverage Policy to Managerial Ownership in Indonesia: An Agency Theory Perspective. Jurnal Ekonomi dan Bisnis Indonesia, Vol.18, No.3, 2003. Available at SSRN: http://ssrn.com/abstract=637582

137. Mahajan A., Tartaroglu S. Equity market timing and capital structure: International evidence. Journal of Banking & Finance, 32, 2008, p.754-766

138. Mauer D.C., Triantis A.J. Interactions of Corporate Financing and Investment Decisions: A Dynamic Framework. The Journal of Finance, Vol. 49, No. 4, (Sep., 1994), pp.1253-1277

139. Mazur K. The determinants of capital structure choice: evidence from Polish companies. International Advances in Economic Research, 2007, 13, pp. 495-514

140. Mello A.S., Parsons J.E. Measuring the Agency Cost of Debt. The Journal of Finance, 1992, Vol. 47, No.5, pp.1887-1904

141. Mendes E., Kayo E., Cruz L.B. Capital Structure and Windows

of Opportunities: Tests in the Brazilian Market (March 2, 2005). Available at SSRN: http://ssrn.com/abstract=677561 or

http://dx.doi.org/10.2139/ssrn.677561

142. Miguel A., Pindado J. Determinants of the capital structure: New evidence from Spanish data // Journal of Corporate Finance, No. 7. - 2001. - p. 77-99.

146

143. Mihalca G., Antal R. An empirical investigation of the trade-off and pecking order hypotheses on Romanian market. The XIII International Conference “Applied Stochastic Models and Data Analysis” 2009

144. Mileva E. Using Arellano-Bond Dynamic Panel GMM Estimators in Stata. Fordham University working paper, 2007

145. Mitton, T., Why Have Debt Ratios Increased for Firms in Emerging Markets? European Financial Management, Vol. 14, Issue 1, pp. 127-151, 2008.

146. Modigliani F., Miller M.H. The Cost of Capital, Corporation Finance, and the Theory of Investment. American Economic Review, 1958, 48, pp. 261-297

147. Modigliani F.F., Miller M.H. Corporation Income Taxes and the Cost of Capital: A Correction. American Economic Review, vol. 53 (June 1963), pp.433-443

148. Mramor D., Valenticic. When Maximazing Shareholders’ Wealth Is Not the Only Choice. Eastern European Economics, Vol.39, No.6, November-December 2001, pp.64-93

149. Myers S.C. Capital Structure. Journal of Economic Perspectives. Volume 15, №2, 2001, p.81-102

150. Myers S.C., Financial architecture. European Financial Management, 5, 1999, pp. 133-141

151. Myers S.C., Majluf N.S. Corporate Financing And Investment Decisions When Firms Have Information That Investors Do Not Have. Journal of Financial Economics, 1984, 13, pp.187-221

152. Myers, S. C., Determinants of Corporate Borrowing, Journal of Financial Economics, 1977, 5, 147-175

153. Myers, S. The Capital Structure Puzzle. Journal of Finance, 1984, 39, pp. 575-592.

147

154. Nguyen D. K., Boubaker A. Does financing behavior of Tunisian firms follow the predictions of the market timing theory of capital structure? Economics Bulletin, 2009. Vol. 29 no.1 pp. 169-181.

155. Ni Y., Guo S., Giles D.E. Capital structures in an emerging market: a duration analysis of the time interval between IPO and SEO in China. Applied Financial Economics, 2010, 20, p.1531-1545

156. Nivorozhkin E. Financing choices of firms in EU accession countries. Emerging Markets Review, 6, 2005, pp.13 8-169

157. Nivorozhkin. E. Capital Structures in Emerging Stock Markets: The case of Hungary. The Developing Economies, 2002, XL-2, pp.166­87

158. Opler T.C., Titman S. Financial Distress and Corporate Performance. The Journal of Finance. Vol. 49, No.3, Papers and Proceedings Fifty-Fourth Annual Meeting of the American Finance Association, Boston, Massachusetts, January 3-5, 1994, (Jul.1994), pp.1015-1040

159. Oztekin O., Flannery M.J. Institutional Determinants of Capital Structure Adjustment Speeds. Journal of Financial Economics, 103, 2012, pp. 88-112.

160. Pandey I.M.. Capital Structure and the firm characteristics:

Evidence from an emerging market. (October 2001). IIMA Working Paper No. 2001-10-04. Available at SSRN:

http://ssrn.com/abstract=300221 or

http://dx.doi.org/10.2139/ssrn.300221

161. Pao H-T. A comparison of neural network and multiple regression analysis in modeling capital structure. Expert Systems with Applications, 35, 2008, p.720-727

148

162. Parsons C., Titman S. Capital Structure and Corporate Strategy. Handbook of Empirical Corporate Finance, Volume 2. Edited by B. Espen Eckbo, 2008, p. 203-234

163. Petersen M.A. Estimating Standard Errors in Finance Panel Data

Sets: Comparing Approaches. (May, 2006). Kellogg Finance Dept. Working Paper No. 329; AFA 2006 Boston Meetings Paper. Available at SSRN: http://ssrn.com/abstract=661481 or

http://dx.doi.org/10.2139/ssrn.661481

164. Poyry S., Maury B. Influential Ownership and Capital Structure. Managerial and Decision Economics, 31, 2010, p.311-324

165. Prats, M. J. Sustaining Superior Performance through an

Entrepreneurial Boom and Bust: Inter-Firm Differences in the E­Consulting Industry (1997-2001) and the Investment Management Industry (1927-1931) (March 11, 2009). Available at SSRN: http://ssrn.com/abstract=1357348 or

http://dx.doi.org/10.2139/ssrn.1357348

166. Qian Y., Tian Y., Wirjanto T.S. Do Chinese publicly listed companies adjust their capital structure toward a target level? China Economic Review, 20, 2009, pp. 662-676

167. Rajan R., Zingales L. What do we know about capital structure? Some evidence from international data. Journal of Finance, 1995, 50, pp. 1421—1460.

168. Rauh J.D., Sufi A. Explaining corporate Capital Structure: Product Markets, Leases, and Asset Similarity. Review of Finance, 2012, 16, pp.115-155

169. Ross S.A. The Determination of Financial Structure: The Incentive-Signalling Approach. The Bell Journal of Economics, Volume 8, Issue 1, (Spring, 1977), p.23-40

149

170. Sabiwalsky R. Nonlinear modeling of target leverage with latent determinants variables - new evidence on the trade-off theory. Review of Financial Economics, 19, 2010, pp. 137-150

171. Segura-Ubiergo A. The puzzle of Brazil’s high interest rates.

IMF working paper. 2012.

http://www.imf.org/external/pubs/ft/ wp/2012/wp1262.pdf

172. Seifert B., Gonenc H. Pecking Order Behaviour in Emerging Markets. Journal of International Financial Management and Accounting, 21:2, 2010, pp.1-31

173. Selim A., Alpkan L., Sezen B., Guncu Z.A. Frvers of firms’ debt ratios: evidence from Taiwanese and Turkish firms. Journal of Business Economics and Management. Volume 13 (1), pp.53-70, 2012

174. Seppa R. Capital structure decisions: research in Estonian non- financial companies, Baltic Journal of Management, 2008, Vol. 3 Iss: 1, pp.55 - 70

175. Shyam-Sunder L., S.C.Myers. Testing Static Trade-Off against Pecking Order Models of Capital Structure. Journal of Financial Economics, 1999, 51, pp.219-244

176. Stephan A., Talavera O., Tsapin A. Corporate debt maturity choice in emerging financial markets. The Quaterly Review of Economics and Finance, 51, 2011, pp.141-151

177. Strebulaev I.A. Do tests of capital structure theory mean what they say? The Journal of Finance, Vol. LXII, No.4, August 2007, 1747­1787

178. Su L.D. Ownership structure, corporate diversification and capital structure. Evidence from China’s publicly listed firms. Management Decision, Vol. 48, No.2, 2010, pp.314-339

150

179. Titman S. The Effect of Capital Structure on a Firm's Liquidation Decision. Journal of Financial Economics, 1984, 12, pp. 137-151

180. Titman S., Tsyplakov S. A dynamic model of optimal capital structure. Review of Finance, 2007, 11, pp.401-451

181. Titman S., Wessels R. The Determinants of Capital Structure Choice. The Journal of Finance, Vol. 43, No.1 (Mar., 1988), pp.1-19

182. Tong G., Green C.J. Pecking order or trade-off hypothesis? Evidence on the capital structure of Chinese companies. Applied Economics, 2005, pp.2179-2189

183. Tsyplakov S. Investment frictions and leverage dynamics.

Journal of Financial Economics, 89, 2008, pp. 423-443

184. Umutlu G. Pecking Order and Timing Effects on Aftermarket Performance of IPOs: Evidence from Turkey. International Research Journal of Finance and Economics, Issue 18, 2008, pp.142-150

185. Wang K-Ch. A., Lin Ch-H. A. Pecking order theory revisited: the role of agency cost. The Manchester School Vol 78 No. 5 395-411 September 2010. doi: 10.1111/j.1467-9957.2010.02201.x

186. Wanzenried G. Capital Structure decisions and output market competition under demand uncertainty. International Journal of Industrial Organization. 21 (2003) 171-200

187. Wanzenried G. Capital Structure Dynamics in the UK and Continental Europe. The European Journal of Finance. Vol. 12, No. 8, 693-716, December 2006

188. Warner J. Bankruptcy Costs: Some Evidence. Journal of Finance, 1977, 32, pp.337-347

189. Welch I. Capital Structure and Stock Returns. The Journal of

Political Economy, Vol. 112, No. 1, Part 1 (Feb., 2004), pp.106-131

151

190. Wiwattanakantang Y. An empirical study on the determinants of the capital structure of Thai firms. Pacific-Basin Finance Journal, 1999, 7, pp. 371-403

191. Yu D.D., Aquino R.Q. Testing capital structure models on Philippine listed firms. Applied Economics, 2009, 41, 1973-1990

152

<< | >>
Источник: Кокорева Мария Сергеевна. Формирование структуры капитала компаниями на развивающихся финансовых рынках. Диссертация на соискание ученой степени кандидата экономических наук. Москва - 2012. 2012

Еще по теме Список использованных источников:

  1. Список использованных источников
  2. СПИСОК ИСПОЛЬЗОВАННОЙ ЛИТЕРАТУРЫ
  3. Библиографический список использованной литературы
  4. Приложение 1. Источники информации
  5. Источники данных по рекомендациям
  6. Список обозначений
  7. Список иллюстраций
  8. Список литературы
  9. Список таблиц
  10. СПИСОК ВИКОРИСТАНИХ ДЖЕРЕЛ
  11. Библиографический список литературы
  12. Список условных сокращений
  13. Оглавление
  14. Сравнение с результатами зарубежных исследований
  15. Оглавление
  16. Формирование долгосрочных пассивов предприятия
  17. Модели привлечения банками ресурсов для ипотечного кредитования
  18. Подходы к определению информационногособытия
  19. Проверка результатов на робастность