Capital Structure Shifts And Recession: An Empirical Investigation
Main Article Content
Keywords
Capital Structure Shift, Capital Structure Theory, Corporate Financing Policy
Abstract
This study investigates whether the 2007-2009 recession impacted the capital structures of U.S. corporations. Investigating all non-financial firms in the S&P 500 Index, the study finds that by boosting their book equity via dividend cuts and some debt reductions, firms kept book leverage unchanged.
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