The impact of liquidity on capital structure: Evidence from publicly listed industrial firms in the Philippines from 2009-2013
Date of Publication
2015
Document Type
Bachelor's Thesis
Degree Name
Bachelor of Science in Management of Financial Institutions
College
Ramon V. Del Rosario College of Business
Department/Unit
Financial Management
Thesis Adviser
Junette A. Perez
Defense Panel Chair
Edralin C. Lim
Defense Panel Member
Steven Lim
Kenneth Yumang
Abstract/Summary
The study explores the effect of asset and stock liquidity to the capital structure of industrial firms in the Philippines from 2009-2013. Using data obtained from Osiris, the study employs a fixed and random effects panel regression model which validated a significant relationship between asset liquidity, stock liquidity and capital structure of firms. Results show that firms with more liquid equity still prefer debt over equity financing, while firms with more liquid assets follow the pecking-order in determining its capital. Other factors involved in the analysis are profitability, growth, firm size, non-debt tax shields, and tangibility.
Abstract Format
html
Language
English
Format
Accession Number
TU21631
Shelf Location
Archives, The Learning Commons, 12F, Henry Sy Sr. Hall
Physical Description
[90] leaves : illustrations ; 29 cm.
Keywords
Liquidity (Economics); Bank liquidity--Philippines
Recommended Citation
Betonio, M. B., Chua, W. T., Galero, S. O., & Santos, K. S. (2015). The impact of liquidity on capital structure: Evidence from publicly listed industrial firms in the Philippines from 2009-2013. Retrieved from https://animorepository.dlsu.edu.ph/etd_bachelors/6080
