The Determinants of the Capital Structure of Listed Australian Companies: The Financial Manager's Perspective

David Allen

Australian Journal of Management, 1991, vol. 16, issue 2, 103-128

Abstract: This paper reports the results of an investigation of financial managers' perceptions of the broad determinants of listed Australian company capital structure decisions. The research method involves a series of field interviews undertaken with the company secretaries and senior financial personnel of 48 listed Australian companies. The results are consistent with Donaldson's previously reported American findings, in that companies appear to follow a pecking order with respect to funding sources and also report policies of maintaining spare debt capacity.

Keywords: CAPITAL STRUCTURE DETERMINANTS; FINANCIAL MANAGER'S PERSPECTIVES; PECKING ORDER HYPOTHESIS; SPARE DEBT CAPACITY (search for similar items in EconPapers)
Date: 1991
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (17)

Downloads: (external link)
https://journals.sagepub.com/doi/10.1177/031289629101600201 (text/html)

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:sae:ausman:v:16:y:1991:i:2:p:103-128

DOI: 10.1177/031289629101600201

Access Statistics for this article

More articles in Australian Journal of Management from Australian School of Business
Bibliographic data for series maintained by SAGE Publications ().