The financing behaviour of firms and financial crisis

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dc.cclicenceN/Aen
dc.contributor.authorDanso, Alberten
dc.contributor.authorAdomako, Samuelen
dc.date.acceptance2014-04-29en
dc.date.accessioned2017-03-28T09:24:02Z
dc.date.available2017-03-28T09:24:02Z
dc.date.issued2014
dc.description.abstractPurpose – The purpose of this paper is to contribute to the capital structure literature by examining the determinants of capital structure from the context of South Africa and to provide evidence of the effects of the 2007/2008 global financial crisis on firm-level determinants of debt-equity choice. Design/methodology/approach – This paper begins by embarking on an extensive review of literature on extant empirical research on capital structure. The panel econometric technique is further adopted to examine firm-level determinants of capital structure and also the impact of 2007/2008 financial crisis. Findings – The findings of the paper suggest that theories of capital structure underpinning debt-equity choice of firms in developed economies are also applicable in the South African context. The authors also find a strong evidence of the effects of the financial crisis on the capital structure of firms in South Africa. Practical implications – This paper serves as springboard on which further research can be grounded and also highlights the interaction between the South African economy and the global economy. Originality/value – The paper provides a fresh evidence on the determinants of capital structure from the Sub-Saharan African context and to the authors’ knowledge, this is the first paper that examines the effects of the 2007/2008 financial crisis on capital structure of firms in South Africa.en
dc.funderN/Aen
dc.identifier.citationDanso, A. and Adomako, S. (2014) The financing behaviour of firms and financial crisis. Managerial Finance, 40 (12), pp. 1159-1174en
dc.identifier.doihttps://doi.org/10.1108/MF-04-2014-0098
dc.identifier.urihttp://hdl.handle.net/2086/13896
dc.peerreviewedYesen
dc.projectidN/Aen
dc.publisherEmeralden
dc.researchinstituteFinance and Banking Research Group (FiBRe)en
dc.subjectCapital structureen
dc.subjectSouth Africaen
dc.subjectListed firmsen
dc.subjectFinancial crisisen
dc.titleThe financing behaviour of firms and financial crisisen
dc.typeArticleen

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