Capital Structure Determinants of S&P BSE 500: A Panel Data Research
Shalini R1, Mahua Biswas2
1Shalini R, Department of Management, Adarsh Institute of Management and Information Technology, Bangalore (Karnataka), India.
2Dr. Mahua Biswas, Department of Management Studies, Dayananda Sagar College of Arts, Science and Commerce, Bangalore (Karnataka), India.
Manuscript received on 04 August 2019 | Revised Manuscript received on 27 August 2019 | Manuscript Published on 05 September 2019 | PP: 377-380 | Volume-8 Issue-2S7 July 2019 | Retrieval Number: B10690782S719/2019©BEIESP | DOI: 10.35940/ijrte.B1069.0782S719
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© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open access article under the CC-BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: The paper identifies the most important factors specific to companies which impacts on the capital structure of 416 companies belonging to 14 industrial sectors listed in S&P BSE 500 for a duration of 19 years which is from 2000 to 2018. Multi regression model is used to understand the influence of select variables on capital structure. The study finds that 4 explanatory variables like firm size, tax paid, depreciation to total assets ratio and profitability ratio are statistically significant capital structure determinants.
Keywords: Capital Structure, Financial Leverage, Firm Size, Tax Paid, Profitability JEL Classification: G32.
Scope of the Article: Data Mining