Determinants of capital structure with respect to utilities sector and industrials sector / Ni ZHANG / 2019

Titre : Determinants of capital structure with respect to utilities sector and industrials sector Type de document : Mémoire Auteurs : Ni ZHANG, Auteur Année de publication : 2019 Importance : 31 p. Note générale : Pour accéder aux fichiers PDF, merci de vous identifier sur le catalogue avec votre compte Office 365 via le bouton CONNEXION en haut de page. Langues : Anglais (eng) Mots-clés : Management CAPITAL ; FINANCE DE MARCHE ; STRUCTURE FINANCIERE ; CAPITALISATION BOURSIERE Résumé : The capital structure of company is the popular topic nowadays and how to get the most optimal capital structure for a company is still a big question for managers and scholars. In this paper, we study on the determinants of capital structure, which based on the utilities sector and industrial sector to research the determinants of capital structure in terms of total asset, ROA, gross margin, effective tax rate, market capitalization and the state owner percentage. We consider long-term debt to equity ratio as the capital structure. The study of this paper uses the data of 368 companies in utilities sector and 2121 companies in industrial sector all over the world over the period of 2014-2018 covering the majority of listed companies whose data we can collect from CIQ. We did the ordinary multiple linear regression and interaction analysis with R. It shows that there is a negative relationship between market capitalization, state owner percentage and capital structure. And there is a positive relationship between total asset, ROA, gross margin and capital structure. The results indicate that there is no evidence that the effective tax rate is related to the capital structure. Also total assets, ROA, gross margin, effective tax rate and market capitalization have a strong interaction. Note de contenu : PGE: Bibliogr.P. 29-30 Programme : PGE-Rouen Spécialisation : Finance de marché - Financial markets, Assets and Risk Management Permalink : https://cataloguelibrary.neoma-bs.fr/index.php?lvl=notice_display&id=497042