Determinants of capital structure
Author:
- 1 January 2004
- journal article
- Published by Emerald Publishing in International Journal of Social Economics
- Vol. 31 (1/2) , 56-66
Abstract
Capital structure has attracted intense debate and scholarly attention in the financial management arena over the past four decades. However, in the context of sub‐Saharan Africa capital structure has received a scant attention. This paper attempts to rectify this position by considering the firm specific factors influencing the capital structure of international joint venture formation based on a sample of 41 firms in Ghana with partners from Western Europe, North America and Asia. The results indicate that size of joint venture, type of joint venture industry and ownership level of joint venture partner have a positive bearing on the capital structure of joint ventures in Ghana.Keywords
This publication has 35 references indexed in Scilit:
- The impact of market liberalization on vertical scope: the case of ArgentinaStrategic Management Journal, 2002
- An Empirical Examination of Multinational Corporate Capital StructureJournal of International Business Studies, 1996
- What Do We Know about Capital Structure? Some Evidence from International DataThe Journal of Finance, 1995
- The Theory of Capital StructureThe Journal of Finance, 1991
- Corporate Finance and Corporate GovernanceThe Journal of Finance, 1988
- Cultural Influences on International Capital StructureJournal of International Business Studies, 1988
- The Determinants of Capital Structure ChoiceThe Journal of Finance, 1988
- The Currency-of-Denomination Decision for Debt FinancingJournal of International Business Studies, 1985
- Inter-Industry Leverage Differences and the DeAngelo-Masulis Tax Shield HypothesisFinancial Management, 1984
- A Canadian Survey of Financial StructureFinancial Management, 1975