文章基本信息

标题：OVERVIEW OF CAPITAL STRUCTURE THEORY
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作者：TAHA Roshaiza ; SANUSI Nur Azura
期刊名称：Studies in Business and Economics
电子版ISSN：2344-5416
出版年度：2014
卷号：9
期号：2
出版社：Lucian Blaga University
摘要：The aim of this paper is to provide a comprehensive review on two major theories of capital structure; pecking order theory and static-trade off theory in regard with achieving an optimal capital structure. Researchers believed bankruptcy costs, transactions costs, agency conflicts, adverse selection and taxes has been attribute as major explanations of the corporate used of debt financing which has been used as an argument in both theory. To date there is no consensus on the existing of optimal capital structure. However over the past four decades, the ability of the economists to explain the determinants of optimal capital structure has progressed significantly. In this paper, based on the review of past literature it is suggested that the determinants of capital structure is vary among firms depending on its characteristics.
关键词：Capital structure; Pecking order theory; Static-trade off theory