Capital Structure Across Countries: A Comparative Study Using GMM Estimation Method
| المصدر: | المجلة العلمية للاقتصاد والتجارة |
|---|---|
| الناشر: | جامعة عين شمس - كلية التجارة |
| المؤلف الرئيسي: | Youssef, Iman Samir Moahmed (Author) |
| مؤلفين آخرين: | Abdou, Mohamed (Advisor) , Tawfik, Said (Advisor) |
| المجلد/العدد: | ع3 |
| محكمة: | نعم |
| الدولة: |
مصر |
| التاريخ الميلادي: |
2018
|
| الشهر: | أكتوبر |
| الصفحات: | 365 - 390 |
| ISSN: |
2636-2562 |
| رقم MD: | 1066405 |
| نوع المحتوى: | بحوث ومقالات |
| اللغة: | الإنجليزية |
| قواعد المعلومات: | EcoLink |
| مواضيع: | |
| رابط المحتوى: |
عدد مرات التحميل
7
| المستخلص: |
This article examines the capital structure across different countries from 2005 to 2015 in Egypt and other three selected countries; namely Turkey, Brazil and Argentina. The book leverage sensitivity to the explanatory variables (profitability, firm size, tangibility, volatility, GDP growth, inflation and stock market development) was examined using the GMM estimation method . Profitability was the only variable consistently highly significant with negative coefficient obtained in our regressions for four countries Inconsistency of results for other variables prevailed. Findings reveal that Egyptian firms on average are not highly leveraged due to supply constraints on bank lending and demand constraints on consumer borrowing. The empirical evidence seems reasonably consistent with some versions of capital structure theory and other studies. |
|---|---|
| ISSN: |
2636-2562 |
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