Firm Size and Capital Structure Decisions: Evidence From Turkish Lodging Companies
AbstractAim of this study is to investigate the role of firm size on capital structure decisions of Turkish lodging companies. In this context, a survey questionnaire is developed and sent to unquoted Turkish lodging companies. 163 lodging companies answered the survey and they are classified according to their sizes. Empirical findings reveal that firm size is a significant factor for capital structure decisions of Turkish lodging companies. Firm size seems to affect lodging companies in using incentives, issuing common stock, using personal debt and determining target debt ratio. Most of the empirical findings seem to support pecking order theory.
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Bibliographic InfoArticle provided by Econjournals in its journal International Journal of Economics and Financial Issues.
Volume (Year): 1 (2011)
Issue (Month): 1 ()
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Web page: http://www.econjournals.com
Firm Size; Capital Structure; Pecking Order Theory; Trade-off Theory; Lodging Companies.;
Find related papers by JEL classification:
- G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
- M20 - Business Administration and Business Economics; Marketing; Accounting - - Business Economics - - - General
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