The Determinants of Capital Structure for the Manufacturing Industry Firms Listed in Borsa Istanbul

Sosyoekonomi, 2015

Posted: 8 Jun 2019

See all articles by Nida Abdioglu

Nida Abdioglu

Bandirma Onyedi Eylul University/ Faculty of Economics and Administrative Sciences

Date Written: 2015

Abstract

This paper investigates the factors that determine the capital structure of the manufacturing industry firms that are listed in BİST between the period 2009 and 2013. We use the data for 188 firms that are included in sub sectors of manufacuring industry. These sectors are food-beverage-tobacco, textile-wearing apparel-leather, paper and paper products-printing-publishing, chemicals-petroleum rubber-plastic products, non-metalic mineral products, basic metal industries, fabricated metal products-machinery-equipment, wood products including furniture. We use the ratio of total debt to total liabilities as a proxy for capital structure. We also use random effect panel regression to run our analyses. Our findings indicate consistent results with pecking order theory.

Keywords: Capital Structure, Pecking Order Theory, Static Trade-off Theory, Panel Data Analysis

JEL Classification: G30, G32

Suggested Citation

Abdioglu, Nida, The Determinants of Capital Structure for the Manufacturing Industry Firms Listed in Borsa Istanbul (2015). Sosyoekonomi, 2015, Available at SSRN: https://ssrn.com/abstract=3392382

Nida Abdioglu (Contact Author)

Bandirma Onyedi Eylul University/ Faculty of Economics and Administrative Sciences ( email )

Balikesir, 10200
Turkey

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Abstract Views
171
PlumX Metrics