Factors Impacting on Capital Structure of The UK listed Companies: Empirical Analysis
Chen, Hao (2010) Factors Impacting on Capital Structure of The UK listed Companies: Empirical Analysis. [Dissertation (University of Nottingham only)] (Unpublished)
This paper investigates the potential factors that affect the choice of capital structure by analysing a panel of 150 listed UK companies for the period from 1999 to 2008, giving a total 1500 firm-year observations. Pooled regression estimation was first applied to the study, under the assumptions that there was no effect from firms or time. However, by running the Fixed Effect Model with industry dummy variables, it can be seen that some of the coefficient signs for the industries are significant. This indicated that the effect of industry is significant. Thus, Fixed Effect Model is adopted for the analysis in this study.
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