TESTING THE STATIC TRADE-OFF AND PECKING ORDER THEORIES IN CAPITAL STRUCTURE OF TSE ACCEPTED COMPANIES

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NASIRZADEH F.; MOSTAQIMAN A.R.

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Journal: Journal of Accounting Advances Year:2011 | Volume:2 | Issue:2 (59/3) Page(s): 133-158

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Title

TESTING THE STATIC TRADE-OFF AND PECKING ORDER THEORIES IN CAPITAL STRUCTURE OF TSE ACCEPTED COMPANIES

Author(s)

NASIRZADEH F. | MOSTAQIMAN A.R. | Issue Writer Certificate

Keywords

CAPITAL STRUCTUREQ2

DETERMINANT OF CAPITAL STRUCTUREQ3

THE STATIC TRADE-OFF THEORYQ2

THE PECKING ORDER THEORYQ3

OPTIMAL LEVERAGEQ3

Abstract

This study examines two theories including static trade-off and pecking order theories which belong to the CAPITAL STRUCTURE’s theories. According to static trade-off theory, firms are searching for an optimum CAPITAL STRUCTURE which maximizes the corporate value. Regarding this theory, firms ask for establishing a balance between benefits and cost of issuing the debts. The benefits of issuing the debts would be the tax deductibility of the interest and conflict decreasing between the shareholders and managers. On the other hand, the cost of issuing the debts would comprise potential bankruptcy cost and conflict between the shareholders and creditors. According to THE PECKING ORDER THEORY, regardless to leverage optimal, financing decision through the internal funds would be the priority for firms, and when the internal funds are not enough, they use the external funds; in the meantime, they prefer issuing the debts to issuing the shares.

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APA: Copy

NASIRZADEH, F., & MOSTAQIMAN, A.R.. (2011). TESTING THE STATIC TRADE-OFF AND PECKING ORDER THEORIES IN CAPITAL STRUCTURE OF TSE ACCEPTED COMPANIES. JOURNAL OF ACCOUNTING ADVANCES (JAA) (JOURNAL OF SOCIAL SCIENCES AND HUMANITIES), 2(2 (59/3)), 133-158. SID. https://sid.ir/paper/160402/en

Vancouver: Copy

NASIRZADEH F., MOSTAQIMAN A.R.. TESTING THE STATIC TRADE-OFF AND PECKING ORDER THEORIES IN CAPITAL STRUCTURE OF TSE ACCEPTED COMPANIES. JOURNAL OF ACCOUNTING ADVANCES (JAA) (JOURNAL OF SOCIAL SCIENCES AND HUMANITIES)[Internet]. 2011;2(2 (59/3)):133-158. Available from: https://sid.ir/paper/160402/en

IEEE: Copy

F. NASIRZADEH, and A.R. MOSTAQIMAN, “TESTING THE STATIC TRADE-OFF AND PECKING ORDER THEORIES IN CAPITAL STRUCTURE OF TSE ACCEPTED COMPANIES,” JOURNAL OF ACCOUNTING ADVANCES (JAA) (JOURNAL OF SOCIAL SCIENCES AND HUMANITIES), vol. 2, no. 2 (59/3), pp. 133–158, 2011, [Online]. Available: https://sid.ir/paper/160402/en

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