Corporate Capital Structure and Corporate Market Value: Empirical Evidence from Nigeria

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dc.contributor.authorOboh, S.C
dc.contributor.authorIsa, E.F
dc.contributor.authorAdekoya, A.C
dc.date.accessioned2018-09-14T14:49:44Z
dc.date.available2018-09-14T14:49:44Z
dc.date.issued2012
dc.descriptionStaff Publicationsen_US
dc.description.abstractWithin the context of the Modigliani-Miller relevance theory and the static order theory of capital structure, this paper empirically examined the effect of a firm’s capital structure on its market value. Dataset from 39 non-financial listed companies for the period of 2005-2009 were used for analysis. Results from the regression analysis show a significant and positive relationship between non-financial firms’ market values and their debt-equity ratios. Whereas, a negative relationship exists between a firm’s total-debt/total-capital ratio and its market value, its size positively affects its market value. Hence, we conclude that firms’ leverage positively influence their market values. Suggesting that, a firm can actually attain an optimal capital structure.en_US
dc.identifier.citationOboh, S.C, Isa, E.F and Adekoya, A.C (2012) Corporate Capital Structure and Corporate Market Value: Empirical Evidence from Nigeria. International Journal of Economics and Finance, Vol.4(12).en_US
dc.identifier.issn1916-971X
dc.identifier.issn1916-9728 (E)
dc.identifier.urihttp://dx.doi.org/10.5539/ijef.v4n12p193
dc.identifier.urihttps://www.researchgate.net/.../274122488_Corporate_Capital_Structure_and_Corporat...
dc.identifier.uriciteseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.885.1394&rep=rep1.
dc.identifier.urihttp://ir.unilag.edu.ng:8080/xmlui/handle/123456789/3083
dc.language.isoenen_US
dc.publisherCanadian Center of Science and Educationen_US
dc.subjectCapital structureen_US
dc.subjectSizeen_US
dc.subjectMarket valueen_US
dc.subjectNon-financial firmsen_US
dc.titleCorporate Capital Structure and Corporate Market Value: Empirical Evidence from Nigeriaen_US
dc.typeArticleen_US
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