Ahmed, Rafiuddin (2015) Determinants of capital structure: some Australian service sector evidence. In: Proceedings of World Business, Finance and Management Conference: New Zealand 2015. 329. pp. 1-12. From: World Business, Finance and Management Conference, 14-15 December 2015, Auckland, New Zealand.

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Abstract

Capital structure is one of the widely researched finance topics which generated a healthy body of literature in different countries. The key aim of this paper is to examine the determinants of leverage of seven service sector listed companies in the Australian stock exchange during the years 2012-2014. The study uses 57 individual firms and a total of 171 firm-year observations. The analyses of pooled and panel regression models reveal significant relationship between firm-specific and industry-specific determinants (factors) affecting leverage decisions of these firms. The factors are, however, dissimilar to factors observed in country-specific studies undertaken elsewhere. The reasons for differences in observed and extant factors in capital structure studies are explained, and the implications for research are outlined in this paper.

Item ID:	42166
Item Type:	Conference Item (Research - E1)
ISBN:	978-1-922069-91-7
Keywords:	capital structure, Australian service sector, panel data analysis, industry effect, firm characteristics
Related URLs:	Publisher Publisher
Funders:	James Cook University
Date Deposited:	25 Jan 2016 04:39
FoR Codes:	15 COMMERCE, MANAGEMENT, TOURISM AND SERVICES > 1502 Banking, Finance and Investment > 150201 Finance @ 50% 15 COMMERCE, MANAGEMENT, TOURISM AND SERVICES > 1502 Banking, Finance and Investment > 150205 Investment and Risk Management @ 25% 15 COMMERCE, MANAGEMENT, TOURISM AND SERVICES > 1502 Banking, Finance and Investment > 150202 Financial Econometrics @ 25%
SEO Codes:	91 ECONOMIC FRAMEWORK > 9102 Microeconomics > 910206 Market-Based Mechanisms @ 50% 91 ECONOMIC FRAMEWORK > 9101 Macroeconomics > 910109 Savings and Investments @ 25% 91 ECONOMIC FRAMEWORK > 9102 Microeconomics > 910209 Preference, Behaviour and Welfare @ 25%
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