Michael Lemmon is from Eccles School of Business, University of Utah. Michael Roberts is from the Wharton School, University of Pennsylvania. Jamie Zender is from the Leeds School of Business, University of Colorado. We are especially grateful for helpful comments from our referee and associate editor. We also thank Franklin Allen, Heitor Almeida, Yakov Amihud, Lincoln Berger, Alon Brav, Mark Flannery, Murray Frank, Sara Ghafurian, William Goetzmann, Vidhan Goyal, John Graham, Mark Leary, Andrew Metrick, Roni Michaely, Vinay Nair, Darius Palia, Mitchell Petersen, Rob Stambaugh, Ivo Welch, Toni Whited, Bilge Yilmaz; seminar participants at University of Arizona, Babson College, Boston College, Cornell University, Drexel University, Harvard University, University of Colorado, University of Maryland, University of Michigan, University of North Carolina, University of Pennsylvania, Queens University, the University of Western Ontario; and conference participants at the 2005 Five-Star Conference, 2005 Hong Kong University of Science and Technology Finance Symposium, 2006 NBER Corporate Finance Conference, and 2006 Western Finance Association for helpful discussions. Roberts gratefully acknowledges financial support from a Rodney L. White Grant and an NYSE Research Fellowship.
Back to the Beginning: Persistence and the Cross-Section of Corporate Capital Structure
Version of Record online: 19 JUL 2008
© 2008 The American Finance Association
The Journal of Finance
Volume 63, Issue 4, pages 1575–1608, August 2008
How to Cite
LEMMON, M. L., ROBERTS, M. R. and ZENDER, J. F. (2008), Back to the Beginning: Persistence and the Cross-Section of Corporate Capital Structure. The Journal of Finance, 63: 1575–1608. doi: 10.1111/j.1540-6261.2008.01369.x
- Issue online: 19 JUL 2008
- Version of Record online: 19 JUL 2008
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