Abstract:This study provides a comprehensive analysis of capital structure stability over long horizons for firms listed in India. It covers a period of 28 years from 1992 to 2019, leading to 20,371 firm-year observations to determine the relative significance of cross-firm leverage variation and time-series leverage variation. It also identifies the circumstances and industries when each type of variation emerges stronger. The study employs simple econometric tools along with financial modelling techniques in SPSS and… Show more
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