publication . Master thesis . 2015

Capital Structure: Target Adjustment Model and a Mediation Moderation Model with Capital Structure as Mediator

Abedmajid, Mohammed;
Open Access English
  • Published: 01 Jan 2015
  • Publisher: Eastern Mediterranean University (EMU) - Doğu Akdeniz Üniversitesi (DAÜ)
  • Country: Cyprus
Abstract
This study consists of two models. Model one is conducted to check if there is a target adjustment toward optimal capital structure, in the context of Turkish firm listed on the stock market, over the period 2003-2014. Model 2 captures the interaction between firm size, profitability, market value and capital structure using the moderation mediation model. The results of model 1 have shown that there is a partial adjustment of the capital structure to reach target levels. The results of model 2 have shown that profitably affects market value through two paths. The first one is direct while the other is indirect mediated by capital structure. All paths had signif...
Subjects
free text keywords: Banking and Finance, Capital Structure - Turkish Firms, Capital structure, mediation moderation, Turkish firms, profitability
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