Capital Structure of Thai Firms - Target and Crisis

Tunvirachaisakul, Khaomai (2005) Capital Structure of Thai Firms - Target and Crisis. [Dissertation (University of Nottingham only)] (Unpublished)

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This dissertation is the result of the research carried out to study the capital structures of 80 non-financial firms across 8 industries in Thailand. The capital structures in this case include the study of 6 ratios which regarding to debt-to-equity, debt-to-assets, and equity-to-assets. Therefore, they can be named as - the study of debt-equity structures.

This study provides the empirical research to resolve two questions concerning the debt-equity structures of Thai firms during the period of 1993 to 2004. The first question employs the simple regression analysis developed from the Partial Adjustment Model to investigate whether Thai firms in the sample pursued the target debt-equity ratios or not. The second question utilises the multiple regression analysis to examine whether the financial crisis in 1997 caused any changes in the firms debt-equity structures or not. In addition, this dissertation also applies the questionnaire methods to enrich the results from the regression analysis. The surveys are sought to investigate the management aspects towards the debt-equity structures of 80 sample firms. Finally, the study highlights the differences between the results from two methodologies and discusses the issues raised from this research.

Item Type: Dissertation (University of Nottingham only)
Keywords: capital structure, Thai firms
Depositing User: EP, Services
Date Deposited: 06 Jan 2006
Last Modified: 23 Apr 2018 05:07

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