{"product_id":"capital-structure-during-the-crisis-of-2007-2009-von-miroslava-vicol","title":"Capital Structure during the crisis of 2007-2009","description":"\u003cp\u003eThis thesis aims to explain the choice of capital  structure in the times of crisis (2007-2009) for the  U.S.A. real sector companies. The two main theories  used are the trade-off theory and pecking order theory.  The essential of the pecking order theory is that  manager''s capital structure decisions are influenced by  the market perceptions of managers'' superior  information. The trade-off theory provides support for  manager''s trade off between benefits and costs of debt.  The conventional model is also used in the analysis in  order to increase the robustness of the results. We  find that the dynamic partial-adjustment model of the  trade-off theory seems to explain better the choice of  capital structure in the analyzed period than pecking  order theory\u003c\/p\u003e\u003cdiv class=\"aw-variant-hidden-subtitle-div\" id=\"aw-variant-subtitle-9783844304695\"\u003e\u003ch3\u003eTesting Pecking order Theory versus Static Trade-Off Theory\u003c\/h3\u003e\u003c\/div\u003e","brand":"Autorenwelt Shop","offers":[{"title":"Softcover - 9783844304695","offer_id":39497087746141,"sku":"9783844304695","price":49.0,"currency_code":"EUR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0940\/0622\/files\/3d4c7930-07be-42bc-858a-40b4e59d20e0.jpg?v=1775626957","url":"https:\/\/shop.autorenwelt.de\/en\/products\/capital-structure-during-the-crisis-of-2007-2009-von-miroslava-vicol","provider":"Autorenwelt Shop","version":"1.0","type":"link"}