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The Influence of Capital Structure Theories and Dividend Policies

Adebisi Adesola

ISBN 10: 3846536636 / ISBN 13: 9783846536636
Published by LAP LAMBERT Academic Publishing
New Condition: New Paperback
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Paperback. 140 pages. Dimensions: 8.7in. x 5.9in. x 0.3in.This study critically surveyed the literature on capital structure decisions and dividend policies in the context of quoted firms in order to identify the leading theoretical and empirical issues in this area. The thesis main aim was to add empirical evidence to the corporate finance literature by looking at the two main financing issues namely firms payout policies and capital structure decisions. The first theoretical component of the survey attempted to evaluate the two competing theories of capital structure with the purpose of finding the best empirical explanation for corporate financing choice of a cross section of 27 Nigerian quoted companies. A model was developed to represent the static trade-off and the pecking order theory of Myers and Majluf as used in the work of De Medeiros and Daher (2004) and Eboh (2004). By using ordinary least square, we aimed at establishing which of the two theories has the best explanatory power for Nigerian firms. Data pertaining to 1996 through 2006 were used. The result of our estimation shows that both of them appear to give good description of the financing policies of those firms for the period under review. This item ships from multiple locations. Your book may arrive from Roseburg,OR, La Vergne,TN. Bookseller Inventory # 9783846536636

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Synopsis:

This study critically surveyed the literature on capital structure decisions and dividend policies in the context of quoted firms in order to identify the leading theoretical and empirical issues in this area. The thesis main aim was to add empirical evidence to the corporate finance literature by looking at the two main financing issues namely firms' payout policies and capital structure decisions. The first theoretical component of the survey attempted to evaluate the two competing theories of capital structure with the purpose of finding the best empirical explanation for corporate financing choice of a cross section of 27 Nigerian quoted companies. A model was developed to represent the static trade-off and the pecking order theory of Myers and Majluf as used in the work of De Medeiros and Daher (2004) and Eboh (2004). By using ordinary least square, we aimed at establishing which of the two theories has the best explanatory power for Nigerian firms. Data pertaining to 1996 through 2006 were used. The result of our estimation shows that both of them appear to give good description of the financing policies of those firms for the period under review.

About the Author: Adesola, W. Adebisi, is a professional teacher, an astute Economist and a Software Consultant with proficiency in Econometrics, Data Analysis, database design Technologies and Programming. He received his Ph.D degree in Finance from University of Calabar in 2011. Dr Adesola is the author of several books including the ABC of Fortran programming.

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Bibliographic Details

Title: The Influence of Capital Structure Theories ...

Publisher: LAP LAMBERT Academic Publishing

Binding: Paperback

Book Condition: New

Book Type: Paperback

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