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The Determinants of the Capital Structure of Listed Australian Companies: The Financial Manager's Perspective

The Determinants of the Capital Structure of Listed Australian Companies: The Financial Manager's... This paper reports the results of an investigation of financial managers' perceptions of the broad determinants of listed Australian company capital structure decisions. The research method involves a series of field interviews undertaken with the company secretaries and senior financial personnel of 48 listed Australian companies. The results are consistent with Donaldson's previously reported American findings, in that companies appear to follow a pecking order with respect to funding sources and also report policies of maintaining spare debt capacity. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Australian Journal of Management SAGE

The Determinants of the Capital Structure of Listed Australian Companies: The Financial Manager's Perspective

Allen, D. E.
Australian Journal of Management , Volume 16 (2): 26 – Dec 1, 1991
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Publisher
SAGE
Copyright
Copyright © by SAGE Publications
ISSN
0312-8962
eISSN
1327-2020
DOI
10.1177/031289629101600201
Publisher site
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Abstract

This paper reports the results of an investigation of financial managers' perceptions of the broad determinants of listed Australian company capital structure decisions. The research method involves a series of field interviews undertaken with the company secretaries and senior financial personnel of 48 listed Australian companies. The results are consistent with Donaldson's previously reported American findings, in that companies appear to follow a pecking order with respect to funding sources and also report policies of maintaining spare debt capacity.

Journal

Australian Journal of Management – SAGE

Published: Dec 1, 1991

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