Theoretical and Applied Economics
No. 12 / 2014 (601)
Determinants of capital structure: comparison of empirical evidence for the use of different estimators
IFHE University, IBS Hyderabad, India
Raveesh KRISHNANKUTTY
IFHE University, IBS Hyderabad, India
Abstract. This paper briefly tries to define the fundamentals underlying capital structure theories and evaluates whether some a priori assumed macroeconomic determinants can be related to the leverage parameters of interest examined in the paper. For this purpose, we conduct an empirical research that covers 90 selected firms traded on the BSE Stock Exchange. For the empirical analysis panel data methodology has been applied. The study period is 2002-2009 Our main results reveal that there is a negative and statistically significant relationship between non-debt tax shields and size and debt and there is a positive and statistically significant relationship between growth and ratio of fixed assets to total assets debt.
Contents
Data mining of transactional data for sales of dairy products
Research on the evolution of controlling tasks and their delimitation from audit tasks
Franchise’s place within sustainable development matrix: an Institutional Economics approach
Sensory experience – between the tourist and the marketer
Covering the social costs of market failure – the unsub of the value added
Determinants of capital structure: comparison of empirical evidence for the use of different estimators
How can Africa attract different forms of capital flow: theoretical perspectives
Legal and Practical Aspects of the Associations between the City of Bucharest and the Large Territorial Collectivities – Actuality and Perspective
Psychological biases and the capital structure decisions: a literature review
The Role of “After School” Units in Romania’s Rural Areas
Is Cash Conversion Cycles Optimum in Turkish Listed Food-Beverage Firms?
Comparative analysis of the financial discount rate and of the net present value of a public investment project throughout its life