Purpose: The main objective of this study is to examine whether firms follow the financing hierarchy as suggested by the Pecking Order Theory (hereinafter POT). The External Funds Needed (hereinafter EFN) Model offers a financing hierarchy that can be used for examining the POT. As far as the...

It has been realized that none of the three basic theories of capital structure presents a complete answer to the actual determinants of corporate financing decisions. This study attempts to model the practice of capital structure decisions according to the basic premises of each theory of...

Purpose – The purpose of this paper is to examine firms' strategies to change long- and short-term debt financing in Egypt. It aims to examine a list of capital structure determinants that include the basic assumptions of the three well-known theories of capital structure: tradeoff, pecking...