Measuring the determinants of the financing structure in industrial joint stock companies
DOI:
https://doi.org/10.36322/jksc.175(B).18671Keywords:
determinants of financing structure, joint stock companies, measurementAbstract
The current study aims to measure the determinants of the financing structure of joint stock industrial companies. As it was relied on a set of determinants of the financing structure, which are represented by tangible assets, profitability, company size, growth opportunities, the actual tax rate, the reduced items for tax except for interests, as several hypotheses were imposed and a set of questions related to the study, and in order to achieve the objectives of the study were Hypotheses testing for a sample of industrial joint stock companies listed in the Iraq Stock Exchange, based on the data of the official website of the Iraqi Stock Exchange for the period of time (2010-2019), and the sample included (8) industrial joint stock companies. Some financial and statistical indicators were relied upon to analyze and discuss the results by adopting the method of multiple regression analysis among the indicators according to the statistical program (Eviews v.9) and the statistical program (SPSS v23).
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2. Bundala, N, Ng. H. ,2012,” Do Tanzanian companies practice pecking order theory, agency cost theory or trade-off theory? An empirical study in Tanzania listed companies, International Journal of Economics and Financial Issues, 2(4).
3. Valim, A., Ariesa, Y., Gratia, D. M., & Rahmanisa, I. 2020,” Debt to Equity Ratio, Sales Growth, Current Ratio and Working Capital Turnover on Financial Performance of Consumption Goods Industry Sector in Indonesia Stock Exchange in 2013-2018”. Journal of Research in Business, Economics, and Education, 2(5)
4. Bercaw, L. E. (2017). No Place Like Home? Housing Suitability for Older AdultsWho Are Aging in Place. Brandeis University, The Heller School for SocialPolicy and Management.
5. Chukwu, Gospel J, Egbuhuzor, Celestine A. ,2017,” Tangible Assets and Corporate Performance: Evidence from the manufacturing industry in Nigeria”, Research Journal of Financial Sustainability Reporting, Vol.2, No1,
6. Sibindi, A. B. ,2018, “Determinants of bank capital structure: Evidence fromSouth Africa. Acta Universitatis Danubius. OEconomica, 14(5).
7. Mayuri, T., & Kengatharan, L., 2019,” Determinants of Capital Structure:Evidence from Listed Manufacturing Companies in Sri Lanka. SCMS Journal of Indian Management, 16(1).
8. Gharaibeh, O. K., & Saqer, A. T. (2020). Determinants of capital structure: evidence from Jordanian service companies. Investment Management &Financial Innovations, 17(2).
9. Chakrabarti, A., & Chakrabarti, A. ,2019,” The capital structure puzzle–evidence from Indian energy sector. International Journal of Energy Sector Management. 13(1).
10. Ricardo, M., & Florencio, S. J. ,2020,” Study of Capital Structures andCorporate Social Responsibility of New York Stock Exchange Listed Companies: The Case of Brazil and China. International Journal of Entrepreneurship, 24(1).
11. Hidayat, W., Tjaraka, H., Fitrisia, D., Fayanni, Y., Utari, W.,Indrawati, M., ... & Samsi, N., 2020,” The Effect of Earning per Share, Debt to Equity Ratio and Return on Assets on Stock Prices: Case Study Indonesian.Academy of Entrepreneurship Journal, 26(2).
12. Haque, M. I., Tausif, M. R., & Anis, A.,2020,” Continued discussion on
conventional versus Islamic banks: combining financial ratios and efficiency”
Banks and Bank Systems, 15(1).
13. Pointer, L. V., & Khoi, P. D. (2019). Predictors of Return on Assets and Return on Equity for Banking and Insurance Companies on Vietnam Stock Exchange. Entrepreneurial Business and Economics Review, 7(4)
14. Al-Malkawi, H. A. N., & Pillai, R. ,2018,” Analyzing financial performance by integrating conventional governance mechanisms into the GCC Islamic banking framework” Managerial Finance, 44(5).
15. Kolsi, M. C. ,2017,” The determinants of corporate voluntary disclosurepolicy. Journal of Accounting in Emerging Economies, 7(2).
16. Sisay, Y. H., & Nongmaithem, R. S. ,2019, “Effect of firm characteristics onworking capital management of manufacturing firms in amhara Ethiopia.Parikalpana, KIIT Journal of Management, Vol ,15,No(1and2)
17. Wasim, S. S., Alam, S., & Saeed, M. , 2016,” An Empirical Analysis of Capital Structure of KSE-100 Listed Electricity Companies of Pakistan. Global Management Journal for Academic & Corporate Studies, 6(1).
18. Skrepnek, G. H., Thompson, T. C., & Johnson, E. J. ,2015, “Debt and taxes: Marginal tax rate changes, capital structure, and innovative activity in the biotechnology sector. Journal of Commercial Biotechnology, 21(1).
19. Boshoff-Knoetze, A., & Steenkamp, L. P. ,2019,” Quantifying the interest tax shield for different investors in South Africa. African Journal of Business and Economic Research, (14) (2).
20. Tian, Musha, 2013,” A Study of Characteristics and Determinants of Capital Structure in the US Context”, A Dissertation Submitted in Part-fulfilment of the Requirement for the Degree of MSc in Finance and Investment of the University of Nottingham.
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