Record Details

The determinants of the financing decisions of listed and non-listed firms in Ghana

African Journal of Economic Policy

View Archive Info
 
 
Field Value
 
Title The determinants of the financing decisions of listed and non-listed firms in Ghana
 
Creator Andani, A
Al-hassan, S
 
Subject Capital Structure, Financial leverage, Debt instruments and Investments.
 
Description The study examined the financing decisions of 19 listed companies in comparison with 16 non-listed companies in Ghana. The study tested hypotheses related to capital structure determinants and debt policy decisions. The study found support for the pecking order hypothesis across all firms. The free cash flow hypothesis held for long-term debt decisions across firms but not the capital structure decisions. All forms of debt policy decisions were consistent with the matching principle except non-listed firms’ long-term debt. The study did not find any significant difference between listed and non-listed firms in the application of debt. Policy recommendations were provided.Keywords: Capital Structure, Financial leverage, Debt instruments and Investments.
 
Publisher Department of Economics, University of Ibadan
 
Contributor —
 
Date 2014-02-25
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier http://www.ajol.info/index.php/ajep/article/view/101510
10.4314/ajep.v19i2.
 
Source African Journal of Economic Policy; Vol 19, No 2 (2012); 41-68
1116-4875
 
Language eng
 
Relation http://www.ajol.info/index.php/ajep/article/view/101510/90693
 
Rights Copyright for articles published in this journal is retained by the journal.