On Corporate Capital Structure Adjustments

Recent research has examined asymmetries in firms’ adjustments toward target leverage. Using alternative models allowing for adjustments in both debt and total assets, Ian Garrett discusses evidence of asymmetries in leverage adjustments, but that firms adjusting fastest have above-target leverage and a financing deficit.  Ian Garrett is currently Head of the Division of Accounting and Finance at the University of Manchester.


Image courtesy of the interviewee

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