Abstract
ABSTRACT According to Myers (1984) there are three different financing theories that explain corporate financing behavior: the trade-off theory, the pure pecking order (PPO) financing theory, and the modified pecking order (MPO) financing theory. Applying the three financing theories to the financing decisions of two casino companies' new resort projects: Circus Circus Inc.'s “Lexon” and Mirage Corp.'s “Treasure Island”, this study analyzed the two company's financing preferences and found that the PPO theory describes their financing behaviors the best.
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