THE DETERMINANTS OF CAPITAL STRUCTURE OF LARGE NON-FINANCIAL LISTED FIRMS IN NIGERIA

Rafiu Oyesola Salawu and Akinlolu Ayodeji Agboola

The International Journal of Business and Finance Research, 2008, vol. 2, issue 2, 75-84

Abstract: This paper examines capital structure determinants of non-financial firms in Nigeria using a panel of 33 large firms. Statistical tests are performed for the period 1990-2004. The results reveal that profitability, tangibility and company size are positively related to total debt and long-term debt, and growth opportunities are negatively associated with total debt. The empirical results indicate that the financing decisions of large firms in Nigeria can be explained by the determinants suggested by trade-off theory.

JEL-codes: G31 G32 (search for similar items in EconPapers)
Date: 2008
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (13)

Downloads: (external link)
http://www.theibfr2.com/RePEc/ibf/ijbfre/ijbfr-v2n2-2008/IJBFR-V2N2-2008-6.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ibf:ijbfre:v:2:y:2008:i:2:p:75-84

Access Statistics for this article

The International Journal of Business and Finance Research is currently edited by Terrance Jalbert

More articles in The International Journal of Business and Finance Research from The Institute for Business and Finance Research
Bibliographic data for series maintained by Mercedes Jalbert ( this e-mail address is bad, please contact ).