The determinants of capital structure
An attempt is made to analyze the important determinants of capital structure in the U.S. manufacturing industries. The study extends the empirical works on the determinants of capital structure in three ways. First, apart from taking all the relevant independent variables as determinants, it sheds...
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| Veröffentlicht in: | American business review 2000-06, Vol.18 (2), p.129 |
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| Hauptverfasser: | , , |
| Format: | Artikel |
| Sprache: | eng |
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| Online-Zugang: | Volltext |
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| Zusammenfassung: | An attempt is made to analyze the important determinants of capital structure in the U.S. manufacturing industries. The study extends the empirical works on the determinants of capital structure in three ways. First, apart from taking all the relevant independent variables as determinants, it sheds new light on the relationship between business risk and leverage. Second, it shows a rather insignificant role of industry dummies as a proxy for industry characteristics in capital structure determination. Third, it uses both the data-sets of Compustat and Fortune 500 largest firms in analyzing the determinants of capital structure, not attempted before. |
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| ISSN: | 0743-2348 |