Open AccessCapital Structure Determinants of S&P BSE 500: A Panel Data Research
Publication year - 2019
Publication title -
international journal of recent technology and engineering
Language(s) - English
Resource type - Journals
ISSN - 2277-3878
DOI - 10.35940/ijrte.b1069.0782s719
Subject(s) - depreciation (economics) , capital structure , panel data , profitability index , business , regression analysis , econometrics , economics , monetary economics , finance , human capital , statistics , financial capital , capital formation , mathematics , debt , economic growth
The paper identifies the most important factors specific to companies which impacts on the capital structure of 416 companies belonging to 14 industrial sectors listed in S&P BSE 500 for a duration of 19 years which is from 2000 to 2018. Multi regression model is used to understand the influence of select variables on capital structure. The study finds that 4 explanatory variables like firm size, tax paid, depreciation to total assets ratio and profitability ratio are statistically significant capital structure determinants