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dc.contributor.authorKamau, Guandaru C.
dc.contributor.authorKariuki, Samuel N.
dc.date.accessioned2016-02-16T16:39:58Z
dc.date.available2016-02-16T16:39:58Z
dc.date.issued2014-07
dc.identifier.citationInternational Journal of Academic Research in Accounting, Finance and Management Sciences V ol. 4, No.3, pp. 49–62en_US
dc.identifier.issn2225-8329
dc.identifier.issn2308-0337
dc.identifier.urihttp://hdl.handle.net/123456789/600
dc.descriptionDOI: 10.6007/IJARAFMS/v4-i2/1026en_US
dc.description.abstractThe purpose of this study was to investigate factors influencing corporate capital structure in private firms in Kenya. Although the capital structure issue has received substantial attentio n, it is noteworthy that most of the empirical work done focuses on data derived from developed economies that have many institutional similarities and their applicability in developing markets such as Kenya is not documented. Yet, the maintenance of an optimal capital structure is considered as one area where decision makers can influence the company’s value and risk. Specifically, the objectives of the study were to establish whether growth opportunities, firm size, firm profitability, and asset tangibility influence corporate capital structure. The study adopted a descriptive survey research design. The study population comprised 121 Food and Beverage private manufacturing firms registered with the KAM that are located in Nairobi and surrounding area. A sample of 36 firms was selected for the survey using stratified random sampling technique from which 30 questionnaires were returned. Primary data was sourced through personally administered questionnaires to the CFOs. Data was analyzed using descriptive statistics and inferential statistics. Multiple regression analysis was used to determine the interplay between the independent variables and dependent variable. Based on the findings, the study concludes that growth opportunities positively influence capital structure; firm size negatively influences the capital structure, there is an insignificant negative relationship between firm profitability and the capital structure, and there is insignificant positive interaction between asset tangibility and the capital structure of private firms in Kenya.en_US
dc.language.isoenen_US
dc.publisherHuman Resource Management Academic Research Societyen_US
dc.subjectCapital structureen_US
dc.subjectgrowth opportunitiesen_US
dc.subjectfirm sizeen_US
dc.subjectfirm profitabilityen_US
dc.subjectasset tangibilityen_US
dc.titleDeterminants of Corporate Capital Structure among Private Manufacturing Firms in Kenya: A Survey of Food and Beverage Manufacturing Firmsen_US
dc.typeArticleen_US


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