期刊名称：Dokuz Eylül Üniversitesi Sosyal Bilimler Enstitüsü Dergisi
印刷版ISSN：1302-3284
电子版ISSN：1308-0911
出版年度：2015
卷号：17
期号：1
页码：105-118
语种：Turkish
出版社：Dokuz Eylul Univeristy
摘要：Abstract Following Modigliani and Miller (1958) finance literature widely analyzed how the firm chooses its optimal capital structure based on bankruptcy costs, agency costs, information asymmetries and tax. The aim of this paper is to analyze the factors that affect the capital structure of the companies that are traded in Borsa Istanbul and with the main area of activity is energy for the period 2008 and 2012. For this reason, profitability, collateral value, growth, non-debt tax shield, uniqueness and besides the impact of ownership structure are analyzed as determinants of financial leverage through the use of panel regression analysis. According to the results of the analyses, the ownership structure, that is proxied by the share of the biggest shareholder and free float rate, has significant effects on financial leverage and moreover collateral value, non-debt tax shield and firm size has positive, uniqueness and profitability ratio has negative effects on the debts of the company. Keywords: Capital Structure, Financing Decisions, Ownership Structure.
