Object

Title: SMEs capital structure determinants: empirical evidence from Kazakhstan

Title in english:

Uwarunkowania struktury kapitału MŚP na przykładzie spółek z Kazachstanu

Creator:

Kokeyeva, Samal

Description:

Financial Sciences. Nauki o Finansach, 2019, vol. 24, no. 3, s. 13-22

Abstrakt:

The purpose of this paper is to study the standard firm-factor determinants on capital structure of small and medium-sized enterprises (SMEs). To this end, we analyzed small and medium sized firms in Kazakhstan, where all sectors were considered. We use panel data methods to investigate the determinants of capital structure for non-financial SMEs in Kazakhstan. This study examines the impact of key determinants such as asset tangibility, size, growth, profitability and tax rate of SMEs. The trade-off theory and the pecking order theory of capital structure guided this study. The results suggest that despite some differences in the influence of factors on the capital structure, most of the determinants presented by the theory of finance appear indeed to be relevant for the Kazakhstan small and medium business sector

Publisher:

Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu

Place of publication:

Wrocław

Date:

2019

Resource Type:

artykuł

Resource Identifier:

doi:10.15611/fins.2019.3.02 ; oai:dbc.wroc.pl:73298

Language:

eng

Relation:

Financial Sciences. Nauki o Finansach, 2019, vol. 24, no. 3

Rights:

Pewne prawa zastrzeżone na rzecz Autorów i Wydawcy

Access Rights:

Dla wszystkich zgodnie z licencją

License:

CC BY-NC-ND 3.0 PL

Location:

Uniwersytet Ekonomiczny we Wrocławiu

Group publication title:

Financial Sciences. Nauki o Finansach

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