Determinants of capital structure in Malaysian firms' leverage
Structure, exploitation of the corporate capital structure and the dominance of the ultimate owner”, International Review of Financial Analysis, vol. 19, p. 151-164, 2010. This study analyzes the determinants of capital structure in a sample of non-financial Algerian companies during the period 2013-2017. The Tobit panel random effects model produces the following results: the company. 1 Introduction. The recognition of the determinants of capital structure has been a subject of controversy over the years. The capital structure is normally stable over time. Lemmon et al. 2008 Andrés et al. 2014 until some changes occur in firm-specific or macroeconomic factors. Korajczyk and Levy, 2003 Andres et al. Since the costs of deviation from target are likely to be asymmetric between over- and under-leveraged firms, the direction of deviation from target leverage is expected to favor timing or targeting when deciding on the capital structure will change. This study used the GMM system estimators with the Malaysian, structure determinants and leverage among listed consumer products companies in Malaysia from 6. All data are extracted from the companies' annual report using DataStream.