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An investigation of the determinants of firm's capital structure : the case of industrial firms listed on the JSE securities exchange
Includes bibliographical references.
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| Main Author: | |
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| Other Authors: | |
| Format: | Thesis |
| Language: | English |
| Published: |
Department of Finance and Tax
2014
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| _version_ | 1867613768385560576 |
|---|---|
| access_status_str | Open Access |
| author | Ghirmatsion, Biniam Mebrahtu |
| author2 | Uliana, Enrico |
| author_browse | Ghirmatsion, Biniam Mebrahtu Uliana, Enrico |
| author_facet | Uliana, Enrico Ghirmatsion, Biniam Mebrahtu |
| author_sort | Ghirmatsion, Biniam Mebrahtu |
| collection | Thesis |
| description | Includes bibliographical references. |
| format | Thesis |
| id | oai:open.uct.ac.za:11427/10575 |
| institution | University of Cape Town (South Africa) |
| language | eng |
| last_indexed | 2026-06-10T12:41:23.876Z |
| license_str | Not specified — see source repository |
| provenance_str_mv | Harvested via OAI-PMH from UCTD — University of Cape Town Open Access Repository |
| publishDate | 2014 |
| publishDateRange | 2014 |
| publishDateSort | 2014 |
| publisher | Department of Finance and Tax |
| publisherStr | Department of Finance and Tax |
| record_format | dspace |
| source_str | UCTD — University of Cape Town Open Access Repository |
| spelling | oai:open.uct.ac.za:11427/10575 An investigation of the determinants of firm's capital structure : the case of industrial firms listed on the JSE securities exchange Ghirmatsion, Biniam Mebrahtu Uliana, Enrico Financial Management Includes bibliographical references. Most of the evidence on the determinants of capital structure is derived from the developed countries with advanced securities markets. Very little has been written about capital structure in developing countries. Thus, as noted by Drobetz and Fix (2003), the academic literature has not been very helpful in providing clear guidance on practical issues of capital structure. This paper investigates the determinants of capital structure in South Africa, a developing country with a well-developed capital market institution, the JSE. The sample constitutes 119 industrial firms each year from 1997-2002. Using a multiple regression model, size a trangibility have a postive effect on financial leverage, with the exception of the negative impact of tangibility when financial leverage is measured grossly with all liabilities. With this exception, the results on size and tangibility support the trade-off theory of capital structure. 2014-12-30T06:53:40Z 2014-12-30T06:53:40Z 2004 Master Thesis Masters MCom http://hdl.handle.net/11427/10575 eng application/pdf Department of Finance and Tax Faculty of Commerce University of Cape Town |
| spellingShingle | Financial Management Ghirmatsion, Biniam Mebrahtu An investigation of the determinants of firm's capital structure : the case of industrial firms listed on the JSE securities exchange |
| thesis_degree_str | Master's |
| title | An investigation of the determinants of firm's capital structure : the case of industrial firms listed on the JSE securities exchange |
| title_full | An investigation of the determinants of firm's capital structure : the case of industrial firms listed on the JSE securities exchange |
| title_fullStr | An investigation of the determinants of firm's capital structure : the case of industrial firms listed on the JSE securities exchange |
| title_full_unstemmed | An investigation of the determinants of firm's capital structure : the case of industrial firms listed on the JSE securities exchange |
| title_short | An investigation of the determinants of firm's capital structure : the case of industrial firms listed on the JSE securities exchange |
| title_sort | investigation of the determinants of firm s capital structure the case of industrial firms listed on the jse securities exchange |
| topic | Financial Management |
| url | http://hdl.handle.net/11427/10575 |
| work_keys_str_mv | AT ghirmatsionbiniammebrahtu aninvestigationofthedeterminantsoffirmscapitalstructurethecaseofindustrialfirmslistedonthejsesecuritiesexchange AT ghirmatsionbiniammebrahtu investigationofthedeterminantsoffirmscapitalstructurethecaseofindustrialfirmslistedonthejsesecuritiesexchange |