Harry DeAngelo is with the University of Southern California. Richard Roll is with Caltech and is Professor Emeritus at UCLA. This research was supported by the Kenneth King Stonier Chair at the USC Marshall School of Business and by the Joel Fried Chair at the UCLA Anderson School of Management. Special thanks are due to Cam Harvey, the Editor, for many useful comments that helped improve this paper. For helpful comments, we also thank three referees, an Associate Editor, the Co-Editor (John Graham), as well as Tony Bernardo, Fabio Braggon, Daniel Carvalho, Steve Cauley, Tom Chang, Tom Copeland, Linda DeAngelo, Andrea Eisfeldt, Eugene Fama, Wayne Ferson, Murray Frank, Stuart Gabriel, Mark Grinblatt, Gareth James, Lyndon Moore, Kevin J. Murphy, Oguzhan Ozbas, Chris Parsons, Gordon Phillips, Jay Ritter, Lori Santikian, Eduardo Schwartz, Berk Sensoy, Piet Sercu, Douglas Skinner, René Stulz, Avanidhar Subrahmanyam, Ivo Welch, Mark Westerfield, Toni Whited, and Josef Zechner. We thank Ed Tinoco for help in accessing data from the pre-CRSP/Compustat era and Amy Allen, Xiaolin Gong, Richard Graham, Mauri Gustafson, Michael Neagoe, Jonathan Pack and Matthew Wong for superb work on those data. We also thank Chao Zhuang for outstanding research assistance.
How Stable Are Corporate Capital Structures?
Article first published online: 19 JAN 2015
© 2015 the American Finance Association
The Journal of Finance
Volume 70, Issue 1, pages 373–418, February 2015
How to Cite
DeANGELO, H. and ROLL, R. (2015), How Stable Are Corporate Capital Structures?. The Journal of Finance, 70: 373–418. doi: 10.1111/jofi.12163
- Issue published online: 19 JAN 2015
- Article first published online: 19 JAN 2015
- Accepted manuscript online: 26 MAR 2014 02:54PM EST
- Manuscript Accepted: 26 JAN 2014
- Manuscript Received: 28 JUL 2011
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