Firm-specific factors as determinants of capital structure in the absence of taxes

Wafaa M. Sbeti and Imad Moosa

Applied Financial Economics, 2012, vol. 22, issue 3, 209-213

Abstract: Extreme Bounds Analysis (EBA) is used to identify the determinants of capital structure in a tax-free environment, using data on Kuwaiti shareholding companies. The results which are more supportive of the pecking order theory than the trade-off theory, show some evidence for the importance of growth opportunities and profitability. Judged by robustness, the number of determining variables is smaller than what is typically found in the literature.

Date: 2012
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (14)

Downloads: (external link)
http://hdl.handle.net/10.1080/09603107.2011.610738 (text/html)
Access to full text is restricted to subscribers.

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:taf:apfiec:v:22:y:2012:i:3:p:209-213

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/RAFE20

DOI: 10.1080/09603107.2011.610738

Access Statistics for this article

Applied Financial Economics is currently edited by Anita Phillips

More articles in Applied Financial Economics from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().