South African Capital Structure Decisions: A Survey of Listed Companies

Lambert H. de Wet and Sean Joss Gossel

Journal of African Business, 2016, vol. 17, issue 2, 167-187

Abstract: This paper explores the factors that influence capital structure decisions in South Africa from the perspective of the Chief Financial Officer (CFO). The results of a survey of 33 CFOs of JSE listed companies find that South African CFOs are equally likely to follow the Pecking Order and Static Trade-Off theories. However, small companies are more likely to follow the Pecking Order theory while large companies are more likely to follow the Static Trade-Off theory. In addition, the results show that South African companies are more likely to follow the Static Trade-Off theory than companies in other emerging countries.

Date: 2016
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://hdl.handle.net/10.1080/15228916.2016.1132509 (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:wjabxx:v:17:y:2016:i:2:p:167-187

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/wjab20

DOI: 10.1080/15228916.2016.1132509

Access Statistics for this article

Journal of African Business is currently edited by Samuel Bonsu

More articles in Journal of African Business from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().