{"id":"https://openalex.org/W1503547616","doi":null,"title":"The Dynamics of Capital Structure: Evidence from Swedish Micro and Small Firms","display_name":"The Dynamics of Capital Structure: Evidence from Swedish Micro and Small Firms","publication_year":2001,"publication_date":"2001-04-02","ids":{"openalex":"https://openalex.org/W1503547616","mag":"1503547616"},"language":"en","primary_location":{"id":"mag:1503547616","doi":null,"is_oa":false,"landing_page_url":"https://econpapers.repec.org/RePEc:hhs:hastef:0440","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"RePEc: Research Papers in Economics","raw_type":null},"volume":null,"type":"preprint","is_traditional":true,"indexed_in":[],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5027412817","display_name":"Almas Heshmati","orcid":"https://orcid.org/0000-0002-7902-4683","observed_orcids":["https://orcid.org/0000-0002-7902-4683"]},"institutions":[],"countries":[],"is_corresponding":true,"raw_author_name":"Almas Heshmati","raw_affiliation_strings":[],"raw_orcid":"https://orcid.org/0000-0002-7902-4683","affiliations":[]}],"institutions":[],"countries_distinct_count":0,"institutions_distinct_count":0,"corresponding_author_ids":["https://openalex.org/A5027412817"],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":false,"cited_by_count":125,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9907000064849854,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9907000064849854,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12123","display_name":"Financial Analysis and Corporate Governance","score":0.004000000189989805,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12544","display_name":"Working Capital and Financial Performance","score":0.0013000000035390258,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/capital-structure","display_name":"capital structure","score":0.9100000262260437},{"id":"https://openalex.org/keywords/optimal-leverage","display_name":"optimal leverage","score":0.9229999780654907},{"id":"https://openalex.org/keywords/speed-of-adjustment","display_name":"speed of adjustment","score":0.7960000038146973},{"id":"https://openalex.org/keywords/leverage-determinants","display_name":"leverage determinants","score":0.7260000109672546},{"id":"https://openalex.org/keywords/swedish-firms","display_name":"Swedish companies","score":0.8109999895095825}],"concepts":[{"id":"https://openalex.org/C2780695315","wikidata":"https://www.wikidata.org/wiki/Q3799040","display_name":"Unobservable","level":2,"score":0.8863703012466431},{"id":"https://openalex.org/C153083717","wikidata":"https://www.wikidata.org/wiki/Q6535263","display_name":"Leverage (statistics)","level":2,"score":0.8479767441749573},{"id":"https://openalex.org/C149933338","wikidata":"https://www.wikidata.org/wiki/Q950816","display_name":"Capital structure","level":3,"score":0.8388509154319763},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.7020048499107361},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.49659305810928345},{"id":"https://openalex.org/C166052673","wikidata":"https://www.wikidata.org/wiki/Q83021","display_name":"Empirical evidence","level":2,"score":0.4118542969226837},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.3882693648338318},{"id":"https://openalex.org/C105795698","wikidata":"https://www.wikidata.org/wiki/Q12483","display_name":"Statistics","level":1,"score":0.17076519131660461},{"id":"https://openalex.org/C33923547","wikidata":"https://www.wikidata.org/wiki/Q395","display_name":"Mathematics","level":0,"score":0.16907727718353271},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.15614911913871765},{"id":"https://openalex.org/C138885662","wikidata":"https://www.wikidata.org/wiki/Q5891","display_name":"Philosophy","level":0,"score":0.0},{"id":"https://openalex.org/C120527767","wikidata":"https://www.wikidata.org/wiki/Q3196867","display_name":"Debt","level":2,"score":0.0},{"id":"https://openalex.org/C111472728","wikidata":"https://www.wikidata.org/wiki/Q9471","display_name":"Epistemology","level":1,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"mag:1503547616","doi":null,"is_oa":false,"landing_page_url":"https://econpapers.repec.org/RePEc:hhs:hastef:0440","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"RePEc: Research Papers in Economics","raw_type":null}],"best_oa_location":null,"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":53,"referenced_works":["https://openalex.org/W58893393","https://openalex.org/W1481992473","https://openalex.org/W1524495641","https://openalex.org/W1527552944","https://openalex.org/W1538912132","https://openalex.org/W1546993880","https://openalex.org/W1547540007","https://openalex.org/W1553087959","https://openalex.org/W1568102150","https://openalex.org/W1576685169","https://openalex.org/W1583622431","https://openalex.org/W1586068789","https://openalex.org/W1587350794","https://openalex.org/W1594164291","https://openalex.org/W1606847149","https://openalex.org/W1846228861","https://openalex.org/W1973129466","https://openalex.org/W1974673580","https://openalex.org/W1976630014","https://openalex.org/W1982545250","https://openalex.org/W1983491815","https://openalex.org/W1985794374","https://openalex.org/W1987596568","https://openalex.org/W1993426893","https://openalex.org/W2037841399","https://openalex.org/W2049195864","https://openalex.org/W2053893381","https://openalex.org/W2084310832","https://openalex.org/W2087476790","https://openalex.org/W2089052482","https://openalex.org/W2090477211","https://openalex.org/W2091603352","https://openalex.org/W2098072109","https://openalex.org/W2101361672","https://openalex.org/W2102129873","https://openalex.org/W2104640390","https://openalex.org/W2108818539","https://openalex.org/W2115846503","https://openalex.org/W2120517735","https://openalex.org/W2122529435","https://openalex.org/W2124597406","https://openalex.org/W2125664626","https://openalex.org/W2129123189","https://openalex.org/W2138593640","https://openalex.org/W2140041112","https://openalex.org/W2153524047","https://openalex.org/W2154127363","https://openalex.org/W2165934798","https://openalex.org/W2167351159","https://openalex.org/W2170790204","https://openalex.org/W2752617332","https://openalex.org/W3121131820","https://openalex.org/W3124114405"],"related_works":["https://openalex.org/W1568102150","https://openalex.org/W7100957020","https://openalex.org/W7100417141","https://openalex.org/W3121250363","https://openalex.org/W6990659707","https://openalex.org/W3103722503","https://openalex.org/W2883390483","https://openalex.org/W2158106972","https://openalex.org/W2953170721","https://openalex.org/W2349540080"],"abstract_inverted_index":{"Capital":[0],"structure":[1,75,121,159],"studies":[2],"have":[3],"generally":[4],"been":[5],"aimed":[6],"at":[7],"studying":[8,20],"the":[9,15,21,40,45,49,71,98,103,116,133,156,161,167],"determinants":[10,112],"of":[11,29,37,86,100,111,115,118,124,132,136,147],"optimal":[12,46,73,80,90,104,119],"leverage.":[13,47,91],"Empirically,":[14],"focus":[16],"is,":[17],"however,":[18],"on":[19,143],"association":[22],"between":[23],"observed":[24,41,87,157],"leverage":[25,42,88],"and":[26,69,108,113,122,130,150,163],"a":[27,35,63,144],"set":[28],"explanatory":[30],"variables.":[31],"This":[32,92],"approach":[33],"has":[34],"number":[36],"shortcomings.":[38],"First,":[39],"deviates":[43],"from":[44,89],"Second,":[48],"empirical":[50],"analyses":[51],"are":[52,56],"static.":[53],"Third,":[54],"adjustments":[55],"non-constant.":[57],"In":[58],"this":[59],"paper,":[60],"we":[61],"formulate":[62],"dynamic":[64],"adjustment":[65,101,125,131,165],"model.":[66],"We":[67,153],"specify":[68],"estimate":[70],"unobservable":[72],"capital":[74,120,137,158],"using":[76],"observable":[77],"determinants.":[78],"The":[79],"level":[81,105,117,135,169],"varies,":[82],"allowing":[83],"for":[84,127],"deviations":[85],"model":[93],"is":[94,106,141,170],"specified":[95],"such":[96],"that":[97,155,164],"speed":[99,123],"towards":[102,166],"firm-":[107],"time-specific.":[109],"Identification":[110],"estimation":[114],"allow":[126],"flexible":[128],"determination":[129],"effective":[134],"structure.":[138],"Empirical":[139],"analysis":[140],"based":[142],"large":[145],"sample":[146],"Swedish":[148],"micro":[149],"small":[151],"firms.":[152],"find":[154],"exceeds":[160],"target,":[162],"target":[168],"very":[171],"slow.":[172]},"counts_by_year":[{"year":2025,"cited_by_count":1},{"year":2024,"cited_by_count":3},{"year":2023,"cited_by_count":3},{"year":2022,"cited_by_count":2},{"year":2021,"cited_by_count":7},{"year":2020,"cited_by_count":8},{"year":2019,"cited_by_count":6},{"year":2018,"cited_by_count":6},{"year":2017,"cited_by_count":5},{"year":2016,"cited_by_count":5},{"year":2015,"cited_by_count":7},{"year":2014,"cited_by_count":8},{"year":2013,"cited_by_count":7},{"year":2012,"cited_by_count":7}],"updated_date":"2026-11-08T12:12:28.789561","created_date":"2016-06-24T00:00:00"}
