Research scholar, research paper this paper investigates the impact of capital structure on profitability of the manufacturing companies in india and attempts work on capital structure determinants of banks within country over the period of five years from. Capital structure is one of the most important decisions in financial management the primary objective of the firm is to maximize shareholders’ wealth by an appropriate mix of the main sources of finance, including retained earnings, ordinary shares, preference shares, and debt. Research objectives to ascertain whether the determinants used by rajan and zingales (1995) and others apply to capital structure decisions made by listed firms in pakistan’s energy sector to find out which of the capital structure theories better explains the capital structure of these firms. This paper attempts to investigate the determinants of the capital structure of a sample of 972 listed companies on the shanghai stock exchange and shenzhen stock exchange in china in 2003.
This paper investigates the capital structure of listed firms in saudi arabia, using firm specific data to study the determinants of leverage the study is based on an analysis of the capital structure of 93 saudi listed companies. Adb economics working paper series leverage and capital structure determinants of chinese listed companies benno ferrarini, marthe hinojales, and pasquale scaramozzino. Determinants of leverage -research paper - download as pdf file (pdf), text file (txt) or read online purpose: the purpose of the current research is to empirically investigate the determinants of leverage in automobile sector of pakistan by testing packing order theory.
I determinants of capital structure of start-up firms in south africa by: pelagie nadine elomo dissertation submitted in partial fullfilment of the requirement for. This paper examines the impact of capital structure on bank performance the study spreads empirical work on capital structure determinants of banks within country and foreign country. 1 introduction this research is a contribution to the existing debate as to which theory is the most appropriate to explain the capital structure of firms.
The reminder of this paper is organized as follows: the next section describes the leverage the research on the effect of volatility (business risk) on the capital structure has produced mixed we investigate the determinants of capital structure. Determinants of capital structure: evidence from the discussion in this paper is organized as follows to describe the effect of research variables on capital structure, the multivariate. This paper documents that standard cross-sectional determinants of firm leverage also apply to the capital structure of large banks in the united states and europe we find a remarkable consistency in sign, significance and economic magnitude like non-financial firms, banks appear to have stable. Banks’ capital structures, this paper examines the capital structure of banks from the perspective of the empirical capital structure literature for non-financial firms moreover, banks are generally excluded from studies of capital structure and therefore. Academiaedu is a platform for academics to share research papers.
The relationship between capital structure and financial performance is one that received wrote a paper on the irrelevance of capital structure that inspired researchers to debate on this subject this debate is still continuing however, with the • to determine the determinants of a capital structure 5 hypotheses. This paper explores whether capital structure determinants are different in emerging markets we use a comprehensive data set of firm specific attributes from firms listed on the ho chi minh city stock exchange covering a period from 2006 through 2015. Al-shubiri f (2010), ―determinants of capital structure choice: a case study of jordanian industrial companies‖, an-najah university journal of research (humanities), vol 24(8), 2010. Therefore, this paper will discuss the key determinants of the capital structure of chinese firms, comparing to uk firms other than those demand side factors that have been frequently discussed, the paper focuses both firm-specific and non firm-specific issues, which are also apparently important in china.
Issn 1744-0718 determinants of capital structure evidence from libya fakher buferna kenbata bangassa and lynn hodgkinson no 2005/08 research paper series. The determinants of capital structure in the structure of the paper is as follows in section 1 we give an overview of capital structure research in european transition economies capital structure determines how a firm finances its operations and growth by using different sources of funds – debt and equity. The work focuses on the analysis of the determinants of capital structure of companies and evaluates the explanatory capacity of the major theoretical perspectives, namely, the trade -off theory, the pecking order theory, the agency costs theory, and the market timing theory.
Research article / survey paper / case study the pioneers of capital structure research franco modigliani and mhmiller (1958) demonstrated that a firm cannot and h mizlno (1989) analyzed the determinants of capital structure of japanese companies and concluded that profitability is the most significant determinant of capital. The purpose of this paper is to study the status of studies on capital structure determinants in the past 40 years this paper highlights the major gaps in the literature on determinants of capital structure and also aims to raise specific questions for future research. No research exists on the determinants of capital structure in danish companies this thesis conducts an analysis of the determinants of capital structure on a dynamic panel data set from a sample of 106 danish listed companies in the period 2001-2011. As dominant determinants of capital structure choice (ie, company size, company asset structure, company growth, and company profitability) using panel data regression, this paper extends the research on the determinants of corporate capital structure choice by looking at the issue from the perspective of qatar much of the empirical.