Determinants of Capital Structure of UK Firms
Wu, Meiying (2010) Determinants of Capital Structure of UK Firms. [Dissertation (University of Nottingham only)] (Unpublished)
This paper aims to investigate the determinants of capital structure of UK firms and identify which existing theory of capital structure is most relevant and applicable to UK firms. The sample of this study involves 239 listed firms from 9 industries on the FTSE 350 Index in the UK from 2000 to 2009. ANOVA and panel data regression are run to analyze what factors have impact on firm’s decision of capital structure. Each test is run on long-term and short-term leverage as dependent variables. Size, tangibility, profitability, effective tax rate, non-debt tax shields, growth opportunity, share price performance and industry classification are determined as independent variables.
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