The Determinants of Leverage in Tunisian Listed Companies

Ben Moussa Mohamed Aymen and Adel Boubaker

International Journal of Economics & Business Administration (IJEBA), 2025, vol. XIII, issue 1, 109-121

Abstract: Purpose: In this article we studied the determinants of leverage in Tunisian context in the period (2016-2023). Design/methodology/approach: We used a sample of 30 companies listed in Tunisian stock exchange. Findings: By applying a method of panel static we found that return on assets, return on equity, size of firm, capital, economic growth, and inflation have a significant impact on firm leverage. Practical implications: The article identifies the determinants of firm leverage for possible use by managers to protect their companies from unforeseen financial disturbances. Originality/value: Leverage is important in the field of finance of firm. It is useful to increase the investment and the growth opportunities of companies.

Keywords: Leverage; firm; panel; investment; return on assets. (search for similar items in EconPapers)
JEL-codes: C23 G30 G32 L25 O55 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:ers:ijebaa:v:xiii:y:2025:i:1:p:109-121

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