Affiliation:
1. Basil Al-Najjar, Middlesex University Business School, Middlesex University, Hendon, London, NW4 4BT, United Kingdom.
Abstract
This article provides evidence about the determinants of capital structure in developing countries through studying non-financial Jordanian firms. We detect that capital structure choice in Jordan is influenced by similar set of factors suggested in the developed markets, namely, institutional ownership, profitability, business risk, asset tangibility, asset liquidity, market-to-book and firm size. The findings are consistent with the related studies in both developed and developing countries. In addition, we report that Jordanian firms have target capital structure ratios and that they adjust relatively quickly to their targets.
Subject
Economics and Econometrics,Finance
Cited by
17 articles.
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