The Analysis of Capital Structure Theories in Emerging Markets
سال انتشار: 1403
نوع سند: مقاله ژورنالی
زبان: انگلیسی
مشاهده: 30
فایل این مقاله در 14 صفحه با فرمت PDF قابل دریافت می باشد
- صدور گواهی نمایه سازی
- من نویسنده این مقاله هستم
استخراج به نرم افزارهای پژوهشی:
شناسه ملی سند علمی:
JR_IJMAE-11-2_003
تاریخ نمایه سازی: 20 فروردین 1403
چکیده مقاله:
The primary purpose of this paper is to verify the basic assumptions according to the pecking order and Trade-off theory for the capital structure in listed firms on KSA, Iran, and the Iraq Stock Exchange of West Asian countries. The pooled ordinary least squares (OLS) were used to examine the relationships of the three countries for determinants of the capital structure from ۲۰۱۶ to ۲۰۲۰ for the data of non-financial companies. Finally, we obtained ۱۱۶ Saudi, ۸۲ Iranian, and ۳۵ Iraqi companies. Our findings support capital structure theories of the pecking order theory better to describe the capital structure in KSA. This is a significant marker like these societies, yet we found some determinants of the capital structure consistent with trade-off theory in the context of Iran and Iraq. So, it can be said that the Islamic nature of these countries brings companies closer to issuing shares than using debt as a means of capital financing, as Muslims believe that the usury (Raba) comes from the interest of debt. Our results indicate that the growth opportunities have a positive relationship with LEV, but it is not significant for the three countries. This paper can give a unique picture of Islamic societies and how to get capital financing. We found a remarkable similarity in the choice of pecking order theory for the capital structure; naturally, this paper is of interest to owners and managers who are trying to obtain an ideal capital structure to improve the fixed performance of the company.
کلیدواژه ها:
نویسندگان
Saad Faysal
College of Administration and Economics, Al Muthanna University, Samawah, Iraq
مراجع و منابع این مقاله:
لیست زیر مراجع و منابع استفاده شده در این مقاله را نمایش می دهد. این مراجع به صورت کاملا ماشینی و بر اساس هوش مصنوعی استخراج شده اند و لذا ممکن است دارای اشکالاتی باشند که به مرور زمان دقت استخراج این محتوا افزایش می یابد. مراجعی که مقالات مربوط به آنها در سیویلیکا نمایه شده و پیدا شده اند، به خود مقاله لینک شده اند :