The view that issuing debt is generally valuable but that the firm's optimal choice of capital structure is a dynamic process that involves the other views of capital structure (net corporate/personal tax, agency cost, bankruptcy cost, and pecking order), which result from considerations of asymmetric information , asymmetric taxes, and transaction costs.
CAPITAL MARKET IMPERFECTIONS VIEW
Meaning of CAPITAL MARKET IMPERFECTIONS VIEW in English
Campbell R. Harvey. Hypertextual finance English glossary. Английский словарь гипертекстовых финансов. 2012