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dc.contributorFacultad de Ciencias Economicas y Empresarialeses_ES
dc.contributor.authorFonseka, M. M.
dc.contributor.authorGarcía Ramos, Constantino 
dc.contributor.authorTian, Gao-liang
dc.contributor.otherOrganizacion de Empresaes_ES
dc.date2012
dc.date.accessioned2022-04-25T07:31:24Z
dc.date.available2022-04-25T07:31:24Z
dc.identifier.issn0892-7626
dc.identifier.otherhttps://clutejournals.com/index.php/JABR/article/view/6963es_ES
dc.identifier.urihttp://hdl.handle.net/10612/14630
dc.descriptionpp. 481-500es_ES
dc.description.abstractThe objectives of this paper are to analyze whether there is a significant difference among widely used Higgins model and Van Horne model and whether these two competing sustainable growth rate models (SGR) estimate divergences in ways that are systematically related to variations in common financial characteristics. We find that Higgins SGR when used as continuous and dichotomous variables is more affected by variations in financial characteristics than Van Horne’s model. This study confirms that Higgins and Van Horne’s models are qualitatively and approximately the same in relation to most common financial characteristics of a firm. However, if the Higgins model is used to compute SGR, it would give higher SGR for more profitable firms than Van Horne’s. A firm with higher leverage is given higher SGR in Van Horne’s than Higgins. Variations of liquidity, debt maturity and financial distress are trivial in economic sense. Finally, we find that the both Higgins and Van Horne’s models result in approximately same (less than 4%) loss in sample size and not induce more sample-selection bias. We suggest that Higgins and Van Horne’s models are equally preferable from both the managers’ and researchers’ point of view.es_ES
dc.languageenges_ES
dc.publisherClute Institutees_ES
dc.subjectEconomíaes_ES
dc.subjectFinanzases_ES
dc.subject.otherSustainable Growth Rate Modeles_ES
dc.subject.otherHiggins Modeles_ES
dc.subject.otherVan Horne’s Modeles_ES
dc.titleThe Most Appropriate Sustainable Growth Rate Model for Managers and Researcherses_ES
dc.typeinfo:eu-repo/semantics/articlees_ES
dc.identifier.doi10.19030/jabr.v28i3.6963
dc.description.peerreviewedSIes_ES
dc.rights.accessRightsinfo:eu-repo/semantics/openAccesses_ES
dc.identifier.essn2157-8834
dc.journal.titleJournal of Applied Business Researches_ES
dc.volume.number28es_ES
dc.issue.number3es_ES
dc.page.initial481es_ES
dc.page.final500es_ES
dc.type.hasVersioninfo:eu-repo/semantics/publishedVersiones_ES


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