A Test Of The Pecking Order Theory: An Empirical Study Of Institutional And Insider Ownership Identities On The Swedish Market
The paper investigates the financing behavior of firms listed on the Stockholm Stock Exchange (SSE) main markets using the pecking order theory. The study also examines the influence of institutional and insider ownership identities on the financing decisions of the firms. Examining a sample of 107 firms from 2009-2017, we found the pecking order theory of corporate financing consistent with firms
