The Determinants Affecting Capital Structure of Firms: Evidence from Borsa Istanbul
Journal Title: Muhasebe ve Finansman Dergisi - Year 2015, Vol 17, Issue 68
Abstract
This study aims to determine the factors that affect capital structures of firms. To this end, among the ones listed active in IMKB manufacturing industry index, 123 firms data ofwhich, between the years 2000-2010, can uninterruptedly be reached have been applied panel data analysis. Bound and independent variables have been determined in the application abiding by the literature. Three models have been generated by means of bound and independent variables. As a result of the study, it has been found that there is a relationship between gearing ratio and growth, positive relationship with BDVK, and negative relationship with asset structure. A meaningless relationship has come out between tax and growth. According to the results obtained, it has been concluded that firms are not in search of optimum capital structure.
Authors and Affiliations
Ersin IRK, Süleyman KARACA
Keywords
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