Asset specificity, firm heterogeneity and capital structure | Zendy

Balakrishnan Srinivasan | Zendy; Fox Isaac | Zendy

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Asset specificity, firm heterogeneity and capital structure

Author(s) -

Balakrishnan Srinivasan,

Fox Isaac

Publication year - 1993

Publication title -

strategic management journal

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 11.035

H-Index - 286

eISSN - 1097-0266

pISSN - 0143-2095

DOI - 10.1002/smj.4250140103

Subject(s) - capital structure , leverage (statistics) , variance (accounting) , asset (computer security) , capital call , business , industrial organization , economics , econometrics , microeconomics , financial economics , finance , financial capital , accounting , computer science , individual capital , debt , computer security , profit (economics) , machine learning

This paper presents an empirical investigation of the importance of specialized assets and other unique characteristics of a firm in explaining the variance in capital structure across firms. The results show that firm‐specific effects contribute most to the variance in leverage, suggesting a strong link between strategy and capital structure.

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