Jianjun Miao is at the Department of Economics, Boston University. I thank Larry Epstein and Erwan Morellec for constant support and advice. I also thank seminar participants at many institutions, especially, Rui Albuquerque, Mike Barclay, Dan Bernhardt, Pierre Collin-Dufresne, Chris Hennessy, Ludger Hentschel, Burton Hollifield, Hugo Hopenhayn, Boyan Jovanovic, Larry Kotlikoff, Hayne Leland, John Long, Hanno Lustig, Josef Perktold, Victor Rios-Rull, Marc Rysman, Jacob Sagi, Nancy Stokey, Sheridan Titman, and Neng Wang for helpful comments. I am also grateful to an anonymous referee and the editor Robert Stambaugh for extremely helpful comments and suggestions.
Optimal Capital Structure and Industry Dynamics
Version of Record online: 10 NOV 2005
© 2005 the American Finance Association
The Journal of Finance
Volume 60, Issue 6, pages 2621–2659, December 2005
How to Cite
MIAO, J. (2005), Optimal Capital Structure and Industry Dynamics. The Journal of Finance, 60: 2621–2659. doi: 10.1111/j.1540-6261.2005.00812.x
- Issue online: 10 NOV 2005
- Version of Record online: 10 NOV 2005
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