EFFECTS OF INFLATION ON CAPITAL STRUCTURE

Moon K. Kim; Chunchi Wu

doi:10.1111/j.1540-6288.1988.tb00785.x

EFFECTS OF INFLATION ON CAPITAL STRUCTURE

Moon K. Kim
, Chunchi Wu

Finance

Syracuse University

Research output: Contribution to journal › Article › peer-review

10 Scopus citations

Abstract

The purpose of this study is to examine the aggregate capital structure based on several factors that affect the demand for and supply of corporate debt. The main hypotheses are that under inflation the larger the amount of depreciation and the larger the yield differences between corporate and municipal bonds and between corporate bonds and equities, the larger the amount of corporate debt. The empirical tests performed in this study support these hypotheses.

Original language	English
Pages (from-to)	183-200
Number of pages	18
Journal	Financial Review
Volume	23
Issue number	2
DOIs	https://doi.org/10.1111/j.1540-6288.1988.tb00785.x
State	Published - May 1988

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title = "EFFECTS OF INFLATION ON CAPITAL STRUCTURE",

abstract = "The purpose of this study is to examine the aggregate capital structure based on several factors that affect the demand for and supply of corporate debt. The main hypotheses are that under inflation the larger the amount of depreciation and the larger the yield differences between corporate and municipal bonds and between corporate bonds and equities, the larger the amount of corporate debt. The empirical tests performed in this study support these hypotheses.",

author = "Kim, \{Moon K.\} and Chunchi Wu",

year = "1988",

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AB - The purpose of this study is to examine the aggregate capital structure based on several factors that affect the demand for and supply of corporate debt. The main hypotheses are that under inflation the larger the amount of depreciation and the larger the yield differences between corporate and municipal bonds and between corporate bonds and equities, the larger the amount of corporate debt. The empirical tests performed in this study support these hypotheses.

UR - https://www.scopus.com/pages/publications/84987589307

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DO - 10.1111/j.1540-6288.1988.tb00785.x

M3 - Article

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VL - 23

SP - 183

EP - 200

JO - Financial Review

JF - Financial Review

IS - 2

ER -

EFFECTS OF INFLATION ON CAPITAL STRUCTURE

Abstract

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