Research Discussion Paper – RDP 9216 The Evolution of Corporate Financial Structure: 1973–1990

Contents

• Introduction
• The Data and Methodology
• Behaviour of the Financial Ratios
• The Relationship between Financial Structure and the Cyclicality of Output and Earnings
• Summary and Conclusions
• Appendix 1: Data
• Appendix 2: Sample Selection Bias
• References

The views expressed herein are those of the authors and do not necessarily reflect those of the Reserve Bank of Australia. We are grateful to Warren Tease and participants at the Research Seminar at the Reserve Bank for helpful discussions. The assistance of the Australian Stock Exchange in providing data from the Company Review Service is appreciated. Also we thank Thomas Rohling and Timothy Long for their efforts in creating the database.