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Cited by 840

The DOI matches its Crossref record; 7 of the 7 references it cites were found in a registry or an index.

Credit Ratings and Capital Structure

Open access
KISGEN, DARREN J.·2006·The Journal of Finance
DOI 10.1111/j.1540-6261.2006.00866.x
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Abstract

This paper examines to what extent credit ratings directly affect capital structure decisions. The paper outlines discrete costs (benefits) associated with firm credit rating level differences and tests whether concerns for these costs (benefits) directly affect debt and equity financing decisions. Firms near a credit rating upgrade or downgrade issue less debt relative to equity than firms not near a change in rating. This behavior is consistent with discrete costs (benefits) of rating changes but is not explained by traditional capital structure theories. The results persist within previous empirical tests of the pecking order and tradeoff capital structure theories.

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Crossref · 10.1111/j.1540-6261.2006.00866.x

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Metadata

Authors
KISGEN, D. J.
Venue
The Journal of Finance
Publisher
Wiley
Published
2006-05-16
Volume
61
Issue
3
Pages
1035-1072
ISSN
  • 0022-1082 (ISSN-L)
  • 1540-6261
DOI
10.1111/j.1540-6261.2006.00866.x
OpenAlex
W3125160976
Cited by
840
References
7
FWCI
105.46
Type
journal article
Language
en
Open access
green

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CoChat. (2026). Citation check: Credit Ratings and Capital Structure. https://app.cochat.ai/papers/10.1111/j.1540-6261.2006.00866.x
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KISGEN, D. J. (2006). Credit Ratings and Capital Structure. The Journal of Finance. https://doi.org/10.1111/j.1540-6261.2006.00866.x

Data sources

Bibliographic data: Semantic Scholar, OpenAlex, Crossref.

Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.