Title:

The Zero-Leverage Phenomenon: A Bivariate Probit with Partial Observability Approach

Authors:

Flavio Morais (U Beira Interior)
Zélia Serrasqueiro (U Beira Interior)
Joaquim Ramalho (ISCTE - Instituto Universitário de Lisboa)

Journal:

Research In International Business And Finance

Year:

2020

Volume:

53

JEL code:

G32 - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure

DOI:

10.1016/j.ribaf.2020.101201