Determinants of Capital Structure: Empirical Evidence from Manufacturing Firms Listed on BIST

被引：1

作者：

Isik, Ozcan ^{[1
]}

Ersoy, Ersan ^{[2
]}

机构：

[1] Cumhuriyet Univ, Bankacil & Finans Bolumu, Zara Veysel Dursun Uygulamali Bilimler Yuksekokul, Sivas, Turkey

[2] Nevsehir Haci Bektas Veli Univ, Iktisadi & Idari Bilimler Fak, Finans & Bankacil Bolumu, Nevsehir, Turkey

来源：

ESKISEHIR OSMANGAZI UNIVERSITESI IIBF DERGISI-ESKISEHIR OSMANGAZI UNIVERSITY JOURNAL OF ECONOMICS AND ADMINISTRATIVE SCIENCES | 2021年 / 16卷 / 03期

关键词：

Capital Structure; Turkish Manufacturing Sector; Trade-off Theory; Pecking Order Theory; Leverage; TRADE-OFF; ADJUSTMENT; CORPORATE; DECISIONS; BEHAVIOR; INDUSTRY; COUNTRY; SPEED;

D O I：

10.17153/oguiibf.974459

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

In this study, we analyze the impact of firm-level determinants on the capital structure decisions of Turkish publicly traded firms operating in the manufacturing sector over the period from 2010 to 2019, and we also investigate whether this impact is particularly associated with firm size and level of debt. Panel regression results based on the Driscoll-Kraay procedure imply that firm-specific variables selected within the framework of two dominant theories of capital structure play critical roles in explaining the changes in borrowing behaviors of the firms. Moreover, our empirical results reveal that the impact of the firm-level variables on capital structure varies over different groups of firms.

引用

页码：842 / 855

页数：14

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