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RBA Glossary definition for IT

IT – Information Technology

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Empirical Model

1 Dec 1993 RDP 9313
Geoffrey Shuetrim, Philip Lowe and Steve Morling
u. it. is a composite residual comprised of a firm-specific component, μ. ... where Y. it. is gross earnings, I. it. is interest payments and τ.
https://www.rba.gov.au/publications/rdp/1993/9313/empirical-model.html

Results

1 Dec 1993 RDP 9313
Geoffrey Shuetrim, Philip Lowe and Steve Morling
The test statistic is 28.82 and it has a. distribution under the null hypothesis. ... The test statistic is 48.47 and it has a. distribution under the null hypothesis.
https://www.rba.gov.au/publications/rdp/1993/9313/results.html

Appendix 3: Split Sample Results

1 Dec 1993 RDP 9313
Geoffrey Shuetrim, Philip Lowe and Steve Morling
Footnote. The test statistic is 8.69. It is distributed according to an F.
https://www.rba.gov.au/publications/rdp/1993/9313/appendix-3.html

Appendix 4: Testing The Firm and Time Specific Variables

1 Dec 1993 RDP 9313
Geoffrey Shuetrim, Philip Lowe and Steve Morling
It is of interest to determine whether the variables that vary in the time dimension only, can adequately describe all of the variation in the dependent variable that is captured by
https://www.rba.gov.au/publications/rdp/1993/9313/appendix-4.html

Appendix 1: Data

1 Dec 1993 RDP 9313
Geoffrey Shuetrim, Philip Lowe and Steve Morling
It is reported in Table F3 of the Reserve Bank of Australia Bulletin. ... Each firm is weighted by its market capitalisation. It is available from the Australian Stock Exchange.
https://www.rba.gov.au/publications/rdp/1993/9313/appendix-1.html

References

1 Dec 1993 RDP 9313
Geoffrey Shuetrim, Philip Lowe and Steve Morling
Stevens, G. (1991), ‘The Rise in Private Debt in the 1980s: Why Did it Happen, and Will it Continue in the 1990s’, in The Surge In Australia's Private Debt: Causes,
https://www.rba.gov.au/publications/rdp/1993/9313/references.html

Summary and Conclusions

1 Dec 1993 RDP 9313
Geoffrey Shuetrim, Philip Lowe and Steve Morling
It is difficult to define tests that accurately discriminate between the competing theories. ... Thus, although deregulation is not included specifically in our model of leverage, it can be seen to have had a pervasive and significant influence on firms'
https://www.rba.gov.au/publications/rdp/1993/9313/summary-conclusions.html

Introduction

1 Dec 1993 RDP 9313
Geoffrey Shuetrim, Philip Lowe and Steve Morling
It relies upon the argument that the weighted average cost of capital remains constant as leverage changes (Copeland and Weston, 1983, p.
https://www.rba.gov.au/publications/rdp/1993/9313/introduction.html

Capital Structure: Theory and Evidence

1 Dec 1993 RDP 9313
Geoffrey Shuetrim, Philip Lowe and Steve Morling
Third, when new equity is issued to new owners, it may dilute the claims of existing shareholders. ... However, it is likely that each factor has some influence. In any event, empirical support for financial hierarchies is strong.
https://www.rba.gov.au/publications/rdp/1993/9313/capital-structure-theory-evidence.html