EconPapers    
Economics at your fingertips  
 

The Impact of Capital Structure on Stock Returns: International Evidence

Reza Tahmoorespour, Mina Ali-Abbar and Elias Randjbaran ()
Additional contact information
Reza Tahmoorespour: University Putra Malaysia
Mina Ali-Abbar: University Putra Malaysia
Elias Randjbaran: University Putra Malaysia

Hyperion Economic Journal, 2015, vol. 3, issue 1, pages 56-78

Abstract: This study examines the relationship between capital structure and stock returns of firms in the following eight countries in the Asia Pacific regionfor a period of 22 years from 1990 to 2012. The methodology is Panel Regression. The results indicate that the effect of capital structure depends on the nature of industry as well as market. In Australia, China, and Korea, return of companies in the Basic Material industry have negative relationship with debt to common equity. Long term debt to common equity positively affects the return of firms in Australia and Korea in the Basic Material industry.

Keywords: Capital structure; Stock return; Stock market; Industrial sector; Financial ratio; International markets; Panel data (search for similar items in EconPapers)
Date: 2015
References: Add references at CitEc
Citations Track citations by RSS feed

Downloads: (external link)
http://hej.hyperion.ro/articles/1(3)_2015/HEJ%20nr1(3)_2015_Y3Tahmoorespoura.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: http://EconPapers.repec.org/RePEc:hyp:journl:v:3:y:2015:i:1:p:56-78

Access Statistics for this article

Hyperion Economic Journal is currently edited by Iulian Panait

More articles in Hyperion Economic Journal from Faculty of Economic Sciences, Hyperion University of Bucharest, Romania Hyperion University, Faculty of Economic Sciences, Calea Calarasilor no. 169, district 3, Bucharest, 030615, Romania. Contact information at EDIRC.
Series data maintained by Iulian Panait ().

 
Page updated 2015-09-22
Handle: RePEc:hyp:journl:v:3:y:2015:i:1:p:56-78