Publications

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The Capital Structure Puzzle

This paper contrasts the and theories of capital structure choice by corporations. In the static tradeoff theory, optimal capital structure is reached when the tax advantage...

1984 The Journal of Finance 2994 citations

R & D-Based Models of Economic Growth

This paper argues that the 'scale effects' prediction of many recent R&D-based models of growth is inconsistent with the time-series evidence from industrialized economies. ...

1995 Journal of Political Economy 2987 citations

DEBT AND TAXES*

The somewhat heterodox views about debt and taxes that will be presented here have evolved over the last few years in the course of countless discussions with several of my pres...

1977 The Journal of Finance 2954 citations