The determinants of capital structure: evidence from the Asia Pacific region

Rataporn Deesomsak, Krishna Paudyal, Gioia Pescetto

Research output: Contribution to journalArticle

194 Citations (Scopus)

Abstract

The paper contributes to the capital structure literature by investigating the determinants of capital structure of firms operating in the Asia Pacific region, in four countries with different legal, financial and institutional environments, namely Thailand, Malaysia, Singapore and Australia. The results suggest that the capital structure decision of firms is influenced by the environment in which they operate, as well as firm-specific factors identified in the extant literature. The financial crisis of 1997 is also found to have had a significant but diverse impact on firm's capital structure decision across the region.

LanguageEnglish
Pages387-405
Number of pages19
JournalJournal of Multinational Financial Management
Volume14
Issue number4-5
DOIs
Publication statusPublished - 31 Dec 2004

Fingerprint

Capital structure
Asia-Pacific region
Financial crisis
Singapore
Institutional environment
Malaysia
Firm-specific factors
Thailand

Keywords

  • Asia Pacific region
  • capital structure
  • corporate governance
  • financial crisis
  • leverage

Cite this

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The determinants of capital structure : evidence from the Asia Pacific region. / Deesomsak, Rataporn; Paudyal, Krishna; Pescetto, Gioia.

In: Journal of Multinational Financial Management, Vol. 14, No. 4-5, 31.12.2004, p. 387-405.

Research output: Contribution to journalArticle

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