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The Effect of Firm Characteristics on Capital Structure as Applied on Non-Financial Firms in Egypt

المصدر: المجلة العلمية للاقتصاد والتجارة
الناشر: جامعة عين شمس - كلية التجارة
المؤلف الرئيسي: Abdelaziz, Baher (Author)
مؤلفين آخرين: Alber, Nader (Advisor)
المجلد/العدد: ع3
محكمة: نعم
الدولة: مصر
التاريخ الميلادي: 2018
الشهر: أكتوبر
الصفحات: 449 - 478
ISSN: 2636-2562
رقم MD: 1066565
نوع المحتوى: بحوث ومقالات
اللغة: الإنجليزية
قواعد المعلومات: EcoLink
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المستخلص: This research attempts to investigate the determinants of capital structure of a sample of EGX30 non-financial firms covering the period from 2009 to 2017, the research conduct regression of three model using EGLS and implementation of Wallace and Hussain (1969) estimator of component variances, total debt ratio, long-term debt ratio and short-term debt ratio have been regressed against Firms’ Growth, Size, Profitability and Tangibility, this study results point out positive relationship between debt ratio and each of firms’ tangibility and growth, in contradict, negative relationship has been found between debt ratio and each of firms’ size and profitability, the results are conforms with pecking order theory, indicating that firms behavior towered credit is close to most of developed countries, however, average long-term debt ratio is similar to the majority of developing countries, Egyptian uprising has significant effect on supply and demand sides of credit market; firms’ performance and banks preference towered investment opportunity and assets management has been changed significantly after Egyptian revolution.

ISSN: 2636-2562

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