We quantify the empirical relevance of the pecking order hypothesis using a novel empirical model and testing strategy that addresses statistical power concerns with previous tests. While the classificatory ability of the pecking order varies significantly depending on whether one interprets the hypothesis in a strict or liberal (e.g., “modified” pecking order) manner, the pecking order is neve...

Free radicals are species with one or more unpaired electrons. The unpaired electron results in a species that is often highly reactive. Free radicals have a wide range of reactions; two broad classes of reactions are electron transfer and addition reactions resulting in covalent bond formation. Free radicals can be classified as reducing (donating an electron to an acceptor) or oxidizing (acce...

capital structure puzzle is a challenging issue in corporate finance. different researchers attempt to identify ways to determine optimized capital structure which minimizes firm’s cost of capital and maximizes its value, by proposing variety of theories. in line with forming new theories and introducing determinant variables, the absence of comprehensive research which simultaneously tests exi...

The aim of this empirical study is to explore the trade-off model and pecking order model of capital structure. The investigation is performed using panel data procedures for a sample of 76 firms listed in Tehran Stock Exchange during 2007-2010.The study employs OLS regression model in examining the capital structure of firms in Iran. The study employs variables reflecting differing theoretical...