This paper puts forward the hypothesis that the characteristics of followers of the pecking order theory of capital structure are explicitly distinct from those of non-followers. The factors determining financing behavior are far beyond the conventional perception of asymmetric information. Sampling from the IT industry in Taiwan, we observe that pecking order followers are associated with higher profitability, adequate cash, and other broadly recognized variables.
| Identifer | oai:union.ndltd.org:NSYSU/oai:NSYSU:etd-0715105-230107 |
| Date | 15 July 2005 |
| Creators | Hsieh, Chi-Shan |
| Contributors | Chinshun Wu, Robert Der-fa Chen, Victor W. Liu, Jen-Jsung Huang |
| Publisher | NSYSU |
| Source Sets | NSYSU Electronic Thesis and Dissertation Archive |
| Language | English |
| Detected Language | English |
| Type | text |
| Format | application/pdf |
| Source | http://etd.lib.nsysu.edu.tw/ETD-db/ETD-search/view_etd?URN=etd-0715105-230107 |
| Rights | campus_withheld, Copyright information available at source archive |
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