Firm Size and Capital Structure

  • Alexander Kurshev, Ilya A. Strebulaev
  • Published 2005


Firm size has been empirically found to be strongly positively related to capital structure. A number of intuitive explanations can be put forward to account for this stylized fact, but none have been considered theoretically. This paper starts bridging this gap by investigating whether a dynamic capital structure model can explain the cross-sectional… (More)


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