Major Assignment


The major assignment is a 2000 word essay. To complete this assignment you need read the two papers specified then apply the concepts
we have covered in the course to answer the questions below.
Reading the papers referred to in the two articles will help you to understand their arguments and improve your answer to the question.
There are a range of theories that seek to explain the capital structure choices of corporations, these theories are summarised in the paper
by Myers. Explain how the empirical findings of DeAngelo and Roll prove or disprove the theories of capital structure choice presented in
Myers, S. C. (2001). Capital structure. The journal of economic perspectives, 15(2), 81-102.
DeAngelo, H., & Roll, R. (2016). Capital Structure Instability. Journal of Applied Corporate Finance, 28(4), 38- 52.

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