Corporate Governance

Tabassum, Naeem; Singh, Satwinder

doi:10.1007/978-3-030-48527-6_1

Cited by 1 publication

(1 citation statement)

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“…The descriptive statistics are measured in the first stage, which inspects the data correction and recognizes any probable data mistakes. In the second stage, the correlation between corporate ownership structure and debt-equity decision is discovered by the correlation matrix, which also measured the multi-collinearity (Palaniappan, 2017; Tabassum & Singh, 2020). In the final stage, dynamic panel data regression method is measured to explore the degree variables and their relationship after the inclusion of controlling the firm-level variables (Chatterjee & Hadi, 2013).…”

Section: Model Specificationmentioning

confidence: 99%

Corporate Ownership Structure and Its Effect on Capital Structure: Evidence from BSE Listed Manufacturing Companies in India

Gurusamy

2021

IIM Kozhikode Society & Management Review

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The study aims to examine the relationship between corporate ownership structure and capital structure of BSE listed manufacturing firms in India. The study has included the sample of 357 companies which covers 16 major sectors during the period of 2006–2015. Considering the dynamic panel nature of the data relating to the capital structure and the ownership structure variables. The analysis undertakes a novel approach of examining the determinants both single equation and reduced equation models. In order to determine the most appropriate model, based on the F test, the Breusch Pagan LM test and finally the Hausman Test is conducted. The Hausman test result has been estimated by the fixed effect model is better than the other two models such as pooled OLS and random effect estimation. Based on the fixed effects results, size, risk and profitability have a highly significant relationship with leverage. Meanwhile, the growth opportunities and tangibility represent insignificant values. The study found that the explanatory variables of the promoters’ ownership and the institutional ownership have a negative impact on leverage, while the corporate ownership has a positive influence on the capital structure decision. The individual or public ownership has a negative and significantly related to the capital structure, whereas the effect of the foreign ownership inversely related to the firm’s leverage.

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Section: Model Specificationmentioning

confidence: 99%

Corporate Ownership Structure and Its Effect on Capital Structure: Evidence from BSE Listed Manufacturing Companies in India

Gurusamy

2021

IIM Kozhikode Society & Management Review

View full text Add to dashboard Cite

show abstract

Corporate Governance

Cited by 1 publication

References 20 publications

Corporate Ownership Structure and Its Effect on Capital Structure: Evidence from BSE Listed Manufacturing Companies in India

Corporate Ownership Structure and Its Effect on Capital Structure: Evidence from BSE Listed Manufacturing Companies in India

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