Determinants of capital structure: UK panel data
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Data is provided by CIB (Cambodian Investment Board) and estimated data from NBC (National Bank of Cambodia)and the data were organized .They used explanatory
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Debt Ratio = f (Tax Benefit, Growth Opportunities, Risk, Profitability, Tangibility).. Therefore, this functional relationship should be represented in an equation form
The results on profitability is according to the pecking order theory which states a negative relation between debt Liquidity is reported to be significant with in
In addition the negative relationship of our dependent variable and tangibility is surprising and supports Titman & Wessels (1998) which explain that firms
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