| Titre : |
The Impact of Capital Structure on Firm Performance |
| Type de document : |
Mémoire |
| Auteurs : |
Maroua MEDIAF, Auteur |
| Année de publication : |
2021 |
| Importance : |
40 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
STRUCTURE FINANCIERE ; PERFORMANCE ; FRANCAIS ; LBO
|
| Résumé : |
The paper serves a major purpose of empirically investigating the impact of capital structure on firm performance. The study relied on two accounting-based metrics to denote and measure firm performance, Return on Equity and Return on Assets as dependent variables. As for the capital structure, it was proxied by two financial leverage ratios, Debt to Equity ratio and Debt to Asset ratio as independent variables. SIZE and Growth factors were added to the lot as control variables. The study investigated a sample of 176 French companies operating in different sectors of activity for a time frame of five years ranging from 2015 up until 2019 yielding a panel of 880 observation with the use of a comparative descriptive statistics, correlation and regression analysis. The results unraveled a significant negative relationship between firm performance and debt variables. Highly leveraged firms would most likely be less performant, the leverage level impacts negatively corporate performance. Furthermore, Size and growth are affecting factors on performance with a positive significant impact on the latter, the larger the firms, the more capacities they have and a growth in sales generates an increase in performance. |
| Programme : |
MSc Corporate Finance |
| Permalink : |
https://cataloguelibrary.neoma-bs.fr/index.php?lvl=notice_display&id=538629 |
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The Impact of Capital Structure on Firm Performance / 2021 
