Institutional Determinants of Firms' Capital Structure in Selected African Countries

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dc.contributor.authorOyebola, Fatima Etudaiye-Muhtar
dc.contributor.authorAjayi, Michael Adebayo
dc.contributor.authorAbdulrazaq, Taiye Jimoh
dc.contributor.authorBiliqis, Ayoola Abdulmumeen
dc.date.accessioned2021-03-02T08:14:57Z
dc.date.available2021-03-02T08:14:57Z
dc.date.issued2019
dc.description.abstractA firm's capital structure decision is one of the main financial decisions in the corporate world due to the perceived effect it has on firm value. In addition to firm-specific and macroeconomic factors, institutional factors are important determinants of capital structure. This study investigates the effect of institutional factors on capital structure decision of firms in developing African countries. The study used a sample of 599 firms from nine selected countries employing the two-step system generalised method of moments to estimate the regression coefficients. Findings from the study reveal that government effectiveness, regulatory quality and financial market development are significant in explaining the capital structure a firm adopts in the selected countries.en_US
dc.identifier.urihttp://hdl.handle.net/123456789/4380
dc.language.isoenen_US
dc.publisherAfe Babalola University, Ado-Ekiti, Ekiti State, Nigeriaen_US
dc.subjectAfricaen_US
dc.subjectCapital structureen_US
dc.subjectFinancial marketsen_US
dc.subjectRegulatory qualityen_US
dc.titleInstitutional Determinants of Firms' Capital Structure in Selected African Countriesen_US
dc.typeBook chapteren_US

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