An investigation of the determinants of firm's capital structure : the case of industrial firms listed on the JSE securities exchange

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dc.contributor.advisorUliana, Enricoen_ZA
dc.contributor.authorGhirmatsion, Biniam Mebrahtuen_ZA
dc.date.accessioned2014-12-30T06:53:40Z
dc.date.available2014-12-30T06:53:40Z
dc.date.issued2004en_ZA
dc.descriptionIncludes bibliographical references.en_ZA
dc.description.abstractMost 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.en_ZA
dc.identifier.apacitationGhirmatsion, B. M. (2004). <i>An investigation of the determinants of firm's capital structure : the case of industrial firms listed on the JSE securities exchange</i>. (Thesis). University of Cape Town ,Faculty of Commerce ,Department of Finance and Tax. Retrieved from http://hdl.handle.net/11427/10575en_ZA
dc.identifier.chicagocitationGhirmatsion, Biniam Mebrahtu. <i>"An investigation of the determinants of firm's capital structure : the case of industrial firms listed on the JSE securities exchange."</i> Thesis., University of Cape Town ,Faculty of Commerce ,Department of Finance and Tax, 2004. http://hdl.handle.net/11427/10575en_ZA
dc.identifier.citationGhirmatsion, B. 2004. An investigation of the determinants of firm's capital structure : the case of industrial firms listed on the JSE securities exchange. University of Cape Town.en_ZA
dc.identifier.ris TY - Thesis / Dissertation AU - Ghirmatsion, Biniam Mebrahtu AB - 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. DA - 2004 DB - OpenUCT DP - University of Cape Town LK - https://open.uct.ac.za PB - University of Cape Town PY - 2004 T1 - An investigation of the determinants of firm's capital structure : the case of industrial firms listed on the JSE securities exchange TI - An investigation of the determinants of firm's capital structure : the case of industrial firms listed on the JSE securities exchange UR - http://hdl.handle.net/11427/10575 ER - en_ZA
dc.identifier.urihttp://hdl.handle.net/11427/10575
dc.identifier.vancouvercitationGhirmatsion BM. An investigation of the determinants of firm's capital structure : the case of industrial firms listed on the JSE securities exchange. [Thesis]. University of Cape Town ,Faculty of Commerce ,Department of Finance and Tax, 2004 [cited yyyy month dd]. Available from: http://hdl.handle.net/11427/10575en_ZA
dc.language.isoengen_ZA
dc.publisher.departmentDepartment of Finance and Taxen_ZA
dc.publisher.facultyFaculty of Commerceen_ZA
dc.publisher.institutionUniversity of Cape Town
dc.subject.otherFinancial Managementen_ZA
dc.titleAn investigation of the determinants of firm's capital structure : the case of industrial firms listed on the JSE securities exchangeen_ZA
dc.typeMaster Thesis
dc.type.qualificationlevelMasters
dc.type.qualificationnameMComen_ZA
uct.type.filetypeText
uct.type.filetypeImage
uct.type.publicationResearchen_ZA
uct.type.resourceThesisen_ZA
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