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Impact of Value Relevance of Financial Performance Information and Corporate Governance on Capital Structure: Evidence from Egyptian Manufacturing Firms

المصدر: الفكر المحاسبي
الناشر: جامعة عين شمس - كلية التجارة - قسم المحاسبة والمراجعة
المؤلف الرئيسي: Abdel Megeid, Nevine Sobhy (Author)
المجلد/العدد: مج19, ع1
محكمة: نعم
الدولة: مصر
التاريخ الميلادي: 2015
الشهر: أبريل
الصفحات: 73 - 108
DOI: 10.21608/ATASU.2015.50003
ISSN: 2356-8402
رقم MD: 662402
نوع المحتوى: بحوث ومقالات
اللغة: الإنجليزية
قواعد المعلومات: EcoLink
مواضيع:
كلمات المؤلف المفتاحية:
Stock Valuation | Egyptian Listed Manufacturing Firms | Corporate Governance | Capital Structure | Value Relevance of Financial Accounting Based Performance Information
رابط المحتوى:
صورة الغلاف QR قانون

عدد مرات التحميل

119

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المستخلص: This research empirically investigates the impact of value relevance of financial accounting based performance information, stock valuation and corporate governance on capital structure choice in Egypt listed manufacturing firms. Multiple regression analysis is used to examine the association between leverage level and research independent variables for a sample of 52 Egyptian listed manufacturing firms from 2006-2010. The results show that capital structure choice has a weak-to-no relation to firm's performance and corporate governance. Findings show that the value relevance of organizational performance and corporate governance both have insignificant interactive influence on the capital structure. The results shows that profitability and operational performance has a negative insignificant relationship with capital structure, while liquidity and stock valuation has a positive relationship with firm financial leverage, price/earning has significant impact to the capital structure.

ISSN: 2356-8402