An analysis of the impact of capital structure on the financial performance of firms listed on the Namibian stock exchange PDF Download
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Author: Cleophas Mbahijona
Publisher:
ISBN:
Category : Dissertations, Academic
Languages : en
Pages : 158
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Book Description
Author: Cleophas Mbahijona
Publisher:
ISBN:
Category : Dissertations, Academic
Languages : en
Pages : 158
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Book Description
Author: Dr. Udayakumari Vidhyasagara Menon
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
The study tests the relationship between capital structure and share prices of the listed companies in Muscat Securities Market (MSM). It considers all the 113 listed companies registered in MSM for its three main sectors. The analysis is done by employing correlation analysis, One-way Anova and two way analysis of variance. Further, Brown-Forsythe test and Welch test were also applied to check the robustness of the results to find an inverse relationship between amount of debt and share prices. A positive relationship between amount of equity and share prices and debt equity ratio was also found. The results were statistically significant at 1% level of significance. The results indicate adding debt to overall capital inversely effects the share prices. The results are in tandem to Net Income Approach which portrays capital structure to influence firm value.
Author: Uroš Herman
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 40
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Book Description
In this paper, we investigate whether a firm’s composition of foreign liabilities matters for their resilience during economic turmoil and examine which characteristics determine a firm’s foreign capital structure. Using firm-level data, we corroborate previous findings from the (international) macroeconomic literature that the composition of foreign liabilities matters for a country’s susceptibility to external shocks. We find that firms with a positive equity share in their foreign liabilities were less affected by the global financial crisis and also less likely to default in the aftermath of the crisis. In addition, we show that larger, more open, and more productive firms tend to have a higher equity share in total foreign liabilities.
Author: Louis Kurambwi
Publisher:
ISBN:
Category : Construction industry
Languages : en
Pages : 98
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Book Description
Author: Dan S. Dhaliwal
Publisher:
ISBN:
Category : Capital
Languages : en
Pages : 34
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Book Description
Author: Mohammad Shahid
Publisher:
ISBN:
Category : Capital investments
Languages : en
Pages : 108
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Book Description
Author: Olatundun Janet Adelegan
Publisher:
ISBN:
Category : Stock exchanges
Languages : en
Pages : 28
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Book Description
Author: Layton Ruredzo
Publisher:
ISBN:
Category : Rate of return
Languages : en
Pages : 0
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Book Description
Author: DAVID LEE (TP034220)
Publisher:
ISBN:
Category : Capital structure
Languages : en
Pages : 218
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Book Description
Author: Anthony Turkson
Publisher:
ISBN:
Category :
Languages : en
Pages : 32
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Book Description
The study investigated the relationship between capital structure and profitability of listed non-financial firms in Ghana, covering a seven-year period (2002-2008). Capital structure theories provided theoretical basis for the work. The study adopted the panel data methodology to examine the effects of capital structure on the profitability of twenty selected non-financial firms. The general least square technique was used as the estimation technique for the study. Financial statements of the selected firms were also used to extract data for the study. Ratios such as return on assets, return on equity and net profit margin were used as indicators for determining the profitability of the firm. Short-term debt, long-term debt and total debt ratios were also used as indicators for leverage of the firms. The study revealed that 54.99% of the total capital of the firms is made up of debts. Of this 47.65% constitute short-term debts while 7.33% is made up of long-term debts. This indicates that the non-financial firms are highly leveraged firms and also shows the importance of short-term debts over long-term debts in financing non-financial firms. The correlation and regression results showed a significantly negative association between leverage and profitability. This implies that, during the period under study, leverage did not bring about profitability. There should therefore be reforms in the financial markets to reduce cost of short-term debts or encourage internal financing. The firms should also focus on growth so as to benefit from leverage. Reforms in the banking sector to provide more long-term debt to non-financial firms is as well necessary to affect profitability.
