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Borsa İstanbul’da İşlem Gören İmalat Sanayi Şirketlerinin Sermaye Yapılarının Firmaya Özgü Belirleyicileri

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  • Nida ABDİOĞLU
  • Devran DENİZ

Abstract

This paper investigates the factors that determine the capital structure of the manufacturing industry firms that are listed in BİST between the period 2009 and 2013. We use the data for 188 firms that are included in sub sectors of manufacuring industry. These sectors are food-beverage-tobacco, textile-wearing apparel-leather, paper and paper products-printing-publishing, chemicals-petroleum rubber-plastic products, nonmetalic mineral products, basic metal industries, fabricated metal products-machinery-equipment, wood products including furniture. We use the ratio of total debt to total liabilities as a proxy for capital structure. We also use random effect panel regression to run our analyses. Our findings indicate consistent results with pecking order theory.

Suggested Citation

  • Nida ABDİOĞLU & Devran DENİZ, 2015. "Borsa İstanbul’da İşlem Gören İmalat Sanayi Şirketlerinin Sermaye Yapılarının Firmaya Özgü Belirleyicileri," Sosyoekonomi Journal, Sosyoekonomi Society, issue 23(26).
    • Handle: RePEc:sos:sosjrn:150412
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    Keywords

    Capital Structure; Pecking Order Theory; Static Trade-off Theory; Panel Data Analysis.;
    All these keywords.

    JEL classification:

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