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Comparison of Capital Structure Determinants of Public Sector and Private Sector Companies in India

Author

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  • Prof. Anshu Handoo
  • Dr. Kapil Sharma

Abstract

The paper attempts to identify factors which are essential while making capital structure decisions for public sector companies and private sector companies in India. It studies the impact of ten independent variables on three dependent variables for each of the sectors respectively. Most of the researches in determinants of capital structures till date have been done in developed economies, with limited research in emerging markets. This research will add to the understanding of this issue in emerging markets, broadly classifying it into two sectors. The paper utilizes a larger data set in comparison to the earlier studies in India and examines additional factors. This study presents evidence on the determinants of the capital structures with data from NSE Listed Companies. The study period in the study is from 2001 2010 with a sample of 870 listed companies of which 809 are Private Companies and 61 Government Companies. The tool used for research methodology is Regression Modelling.

Suggested Citation

  • Prof. Anshu Handoo & Dr. Kapil Sharma, 2012. "Comparison of Capital Structure Determinants of Public Sector and Private Sector Companies in India," Paradigm, , vol. 16(2), pages 13-23, July.
    • Handle: RePEc:sae:padigm:v:16:y:2012:i:2:p:13-23
    DOI: 10.1177/0971890720120203
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    More about this item

    Keywords

    Capital Structure; Private Sector Companies; Leverage; Corporate Finance; India JEL Classification: JEL G32;
    All these keywords.

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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