Capital Structure Management in Nepalese Enterprises - Couverture souple

Gajurel, Dinesh

Couverture souple

ISBN 10 : 3330348356 ISBN 13 : 9783330348356

Editeur : LAP LAMBERT Academic Publishing, 2017

Synopsis

This study attempts to explain the capital structure pattern and its determinants for a penal set of 20 non-financial firms listed in Nepal Stock Exchange for the period of 1992-2004. By using ecompositional analysis, properties of portfolio analysis, econometric analysis, and an opinion survey of managers, it is found that Nepalese firms are highly leveraged, however the long-term debt ratio is significantly low. Assets structure and size are positively related to leverage whereas liquidity, risk, growth, non-debt tax shield are negatively related to leverage. The signs of estimates suggest that both pecking order and tradeoff theories are at work in explaining capital structure of Nepalese companies. Also, the macroeconomic factors such as GDP growth rate, inflation, and capital market development affect firms’ capital structure decisions. The opinion survey analysis shows that managers in Nepalese firms prefer internal financing first followed by the bank loan financing.

A propos du livre

À propos de l'auteur

Dinesh graduated from University of Tasmania, Australia with Doctor of Philosophy. He is currently at the Faculty of Business Administration, University of New Brunswick, Fredericton, Canada. His research interest and expertise includes financial crises & contagion, corporate finance, asset pricing, and empirical finance.

Détails de l'édition

• Éditeur: LAP LAMBERT Academic Publishing
• Date d'édition: 2017
• Langue: anglais
• ISBN 10: 3330348356
• ISBN 13: 9783330348356
• Reliure: Broché
• Nombre de pages: 116
• Coordonnées du fabricant: non disponible
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