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Cover von: Corporate Financial Dynamics: A Pecking-Order Approach
Hovick Shahnazarian

Corporate Financial Dynamics: A Pecking-Order Approach

Rubrik: Articles
Jahrgang 61 (2005) / Heft 4, S. 516-534 (19)
Publiziert 09.07.2018
DOI 10.1628/001522105776072735
Veröffentlicht auf Englisch.
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Beschreibung
y issuing new shares in combination with debt, then grow by financing its investments with retained earnings and borrowing, and eventually stop growing and distribute all profits. Repurchases of shares will speed up this growth path. Economic depreciation may make the firm want to stop the decline in its capital stock earlier.