IDEAS home Printed from https://ideas.repec.org/a/eco/journ1/2016-04-48.html
   My bibliography  Save this article

A Panel Data Analysis of Capital Structure Determinants: An Empirical Study of Non-Financial Firms in Oman

Author

Listed:
  • Dharmendra Singh

    (Department of Business and Economics, Modern College of Business and Science, Oman.)

Abstract

The aim of this research paper is to examine the firm-specific determinants of the capital structure for non-financing companies of Oman. Based on the existing literature and theories of capital structure, the probable determinants of capital structure are identified. The analysis is performed using panel data techniques; fixed and random effects, for a sample of 61 companies listed on the Muscat Securities Market during 2011-2015. The results suggest that tangibility, profitability and liquidity are having negative relationship with the leverage, whereas firm size and growth opportunity are positively related to the leverage. Non-debt tax shields do not appear to be significantly related to leverage of Omani firms. Pecking order theory is most successful in explaining the determinants of capital structure of the Omani companies. The results of this paper suggest that findings are consistent with the capital structure studies on other developed and developing countries. The study has important policy implications for the finance managers of the firms in Oman.

Suggested Citation

  • Dharmendra Singh, 2016. "A Panel Data Analysis of Capital Structure Determinants: An Empirical Study of Non-Financial Firms in Oman," International Journal of Economics and Financial Issues, Econjournals, vol. 6(4), pages 1650-1656.
    • Handle: RePEc:eco:journ1:2016-04-48
    as

    Download full text from publisher

    File URL: http://www.econjournals.com/index.php/ijefi/article/download/2998/pdf
    Download Restriction: no
    File URL: http://www.econjournals.com/index.php/ijefi/article/view/2998/pdf
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Endri Endri & Bob Mustafa & Oscar Rynandi, 2019. "Determinants of Debt Policy of Real Estate and Property Companies Listed on the Indonesia Stock Exchange," International Journal of Economics and Financial Issues, Econjournals, vol. 9(2), pages 96-104.
    2. Hana Bawazir & Anis Khayati & Fatema AbdulMajeed, 2021. "Corporate governance and the performance of non-financial firms: the case of Oman," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 8(4), pages 595-609, June.
    3. Maciej Stradomski & Katarzyna Schmidt, 2020. "Firm specific determinants of capital structure in European advanced developing countries," Bank i Kredyt, Narodowy Bank Polski, vol. 51(3), pages 263-292.
    4. Fauzi Thalib & Herdiyana Herdiyana & Ayi Wahid, 2019. "Tax and not Tax on Capital Structure of Real Estate and Property Company," International Journal of Economics and Financial Issues, Econjournals, vol. 9(2), pages 87-95.

    More about this item

    Keywords

    Leverage; Determinants; Capital Structure; Oman;
    All these keywords.

    JEL classification:

    • G30 - Financial Economics - - Corporate Finance and Governance - - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eco:journ1:2016-04-48. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Ilhan Ozturk (email available below). General contact details of provider: http://www.econjournals.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.