ECTAP
 
HomeDespre ECTAEventsPolitica editorialaTrimite un articolParteneri / link-uri utileArchiveAbonamentContact
 

ISSN 1841-8678   (print)
ISSN 1844-0029   (online)

News

Archive ECTAP

Note: for the period 1994-2003 the archive of the magazine will not be available online

Supplements ECTAP

If you cannot open the pdf file you need Adobe Reader.
download Adobe Reader

Creative Commons License

Theoretical and Applied Economics
No. 12 / 2014 (601)

Determinants of capital structure: comparison of empirical evidence for the use of different estimators

Aviral Kumar TIWARI
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.

Keywords: debt, dynamic panel estimators, static panel models, capital structure, BSE stock exchange.

Download the full article:  

Contents

Open acces

ECTAP

Search

BOOKS

The Economicity. The Epistemic Landscape, Marin Dinu, 2016

Partners


ISSN 1841-8678 (ediția print) / ISSN 1844-0029 (ediția online)
© Copyright Asociația Generală a Economiștilor din România (AGER) / General Association of Economists From Romania  (GAER)
Redacția: 010702, București, Calea Griviței nr. 21, sector 1, E-mail: economia.ta@edeconomica.com

© 2006-2019 AGER