The purpose of this study is to investigate the factors that determine capital structure and the speed at which firms adjust their leverage level. In particular, we assess whether the determinants and the speed of adjustment vary according to the level of the country's industrialization. The...

The purpose of the study is to investigate the differences in the capital structure determinants between financial and non-financial firms. In other words, to what extent does the determinants differ between the two groups of firm, especially in a developing economy. The authors adopt a...

This paper shows the standard cross-sectional determinants of banks' leverage in Kenya using annual financial statements from 2001 to 2009. Applying a fixed effect model, the authors find a remarkable consistency in sign, significance and economic magnitude. Like non-financial firms, banks...

Over the past few years, Islamic banking has grown tremendously in size and expanded beyond Islamic countries and in some countries its presence has become controversial and intriguing. This paper attempts to evaluate the differences in capital structure determinants between Islamic and...

Purpose – The purpose of this paper is to investigate whether there are differences between the determinants of the capital structure in financial and manufacturing firms and also assess how the speed of adjustment differs. Design/methodology/approach – This study employed balanced panels...