This paper was presented at the 2001 Rutgers Conference on Capital Structure, Lancaster University, McMaster University, and University of Southern California. We appreciate comments received from participants at these seminars, as well as Peter McKay, Mark Weinstein and especially David Mauer. We also thank two anonymous referees for their feedback and for many useful suggestions, and the editor Mike Wickens for his guidance. Finally, we thank John Graham for access to his corporate tax rate estimates. We are responsible for any remaining errors. Sudipto Sarkar acknowledges financial support from a McMaster University Research Grant.
The Trade-off Model with Mean Reverting Earnings: Theory and Empirical Tests*
Article first published online: 29 SEP 2003
The Economic Journal
Volume 113, Issue 490, pages 834–860, October 2003
How to Cite
Sarkar, S. and Zapatero, F. (2003), The Trade-off Model with Mean Reverting Earnings: Theory and Empirical Tests. The Economic Journal, 113: 834–860. doi: 10.1111/1468-0297.t01-1-00156
- Issue published online: 29 SEP 2003
- Article first published online: 29 SEP 2003
- Date of receipt of first submission: October 2000 Date of receipt of final typescript: January 2003
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