abstract t he return of capital is fundamental to the intertemporal allocation of resources by changing the consumption behavior and capital accumulation over time. taxation on return of capital increases the marginal product of capital, meaning that capital stock is lower than when capital is not taxed, which results decreased growth and welfare in steady state. this paper studies the impact o...

Miller's Equilibrium, Shareholder Leverage Clienteles, and Optimal Capital Structure Author(s): E. Han Kim Source: The Journal of Finance, Vol. 37, No. 2, Papers and Proceedings of the Fortieth Annual Meeting of the American Finance Association, Washington, D.C., December 28-30, 1981 (May, 1982), pp. 301-319 Published by: Blackwell Publishing for the American Finance Association Stable URL: htt...

the paper studies of the effect the related and unrelated diversification for products and ownership structure on capital structure for a sample of 87 firms out of 19 industry listed on the tehran stock exchange during the period 2004- 2009. for to regress of models to apply of multivariate approach include panel data and cross-sectional regressions. this study adopts panel fixed effects regres...

The paper analyzes the structure of optimal trajectories in the one-sector vintage capital model that optimizes the endogenous lifetime of age-structured capital under technological change. A new repetition pattern (anticipation echoes) is demonstrated in both optimal investment and optimal capital lifetime in the case of finite-horizon optimization. The anticipation echoes are caused by expect...

Vintage capital growth models have been at the heart of growth theory in the 60s. This research line collapsed in the late 60s with the so-called embodiment controversy and the technical sophisitication of the vintage models. This paper analyzes the astonishing revival of this literature in the 90s. In particular, it outlines three methodological breakthroughs explaining this resurgence: a grow...