Equity Market Timing and Capital Structure: Evidence from Tunisia and France
- Khemaies Bougatef
- Jameleddine Chichti
Abstract
This paper investigates the relevance of market timing considerations on the debt-equity choice using a panelof tunisian and french listed firms. Consistent with the market timing theory, we find that firms tend to issue
equity when their market valuations are relatively higher than their book values and after market performance
improvement. As a consequence, these firms become underlevraged in the short-term and this impact of equity
market timing on capital structure persists beyond eight years.
- Full Text:
PDF
- DOI:10.5539/ijbm.v5n10p167
Journal Metrics
Google-based Impact Factor (2023): 0.86
h-index(2023): 152
i10-index(2023): 1168
Index
- Academic Journals Database
- ACNP
- AIDEA list (Italian Academy of Business Administration)
- ANVUR (Italian National Agency for the Evaluation of Universities and Research Institutes)
- Berkeley Library
- CNKI Scholar
- COPAC
- EBSCOhost
- Electronic Journals Library
- Elektronische Zeitschriftenbibliothek (EZB)
- EuroPub Database
- Excellence in Research for Australia (ERA)
- Genamics JournalSeek
- GETIT@YALE (Yale University Library)
- IBZ Online
- JournalTOCs
- Library and Archives Canada
- LOCKSS
- MIAR
- National Library of Australia
- Norwegian Centre for Research Data (NSD)
- PKP Open Archives Harvester
- Publons
- Qualis/CAPES
- RePEc
- ROAD
- Scilit
- SHERPA/RoMEO
- Standard Periodical Directory
- Universe Digital Library
- UoS Library
- WorldCat
- ZBW-German National Library of Economics
Contact
- Stephen LeeEditorial Assistant
- ijbm@ccsenet.org