Title

Determinants of capital structure: An empirical analysis of firms listed in the Philippine Stock exchange index

Date of Publication

2017

Document Type

Bachelor's Thesis

Degree Name

Bachelor of Science in Management of Financial Institutions

Subject Categories

Finance and Financial Management

College

Ramon V. Del Rosario College of Business

Department/Unit

Financial Management Department

Thesis Adviser

Ray Anthony Almonares

Defense Panel Chair

Marycris Albao

Defense Panel Member


Kristine Mae Lagdameo

Mar Adriel Umali

Abstract/Summary

This paper examines how firms in the Philippines utilize financing decisions through their capital structure. The researchers examined the effect of profitability, firm size, liquidity, tangibility, growth opportunities, and non-debt tax shield to capital structure on firms. The sample for this study includes 24 listed firms in the Philippine Stock Exchange index. Financial data from years 2007-2016 was obtained through Compustat IQ with Bloomberg as supplementary database. Panel data model was used for statistical analysis with the help of statistical software, Stata 13. The results of this study showed that profitability, firm size and liquidity have a significant relationship in leverage. The mentioned variables are also related to capital structure theories, namely, trade-off theory and pecking order theory. The researchers suggest that future studies may include a wider sample with more macroeconomic and other firm-specific variables to further improve the study.

Abstract Format

html

Language

English

Format

Print

Accession Number

TU21866

Shelf Location

Archives, The Learning Commons, 12F, Henry Sy Sr. Hall

Physical Description

iv, 63, 4 leaves : illustrations ; 28 cm.

Keywords

Corporations--Finance; Capital investments

This document is currently not available here.

Share

COinS