The capital structure puzzle: Testing the trade off and Pecking order theories-evidence from publicly listed non-financial firms from the Philippines

• Main Authors: Arevalo, Maria Isabella, Luna, Gilbert Edison, Penafiel, Pamela Marie, Perlas, Janel
• Format: text
• Language: English
• Published: Animo Repository 2011
• Subjects: Financial institutions > Management; Finance and Financial Management
• Online Access: https://animorepository.dlsu.edu.ph/etd_bachelors/18482
• Institution: De La Salle University

This paper tested the two competing capital structure theories, namely the Pecking order theory and the static trade-off theory, to be able to determine the financing behavior of Philippine companies. The authors used an annual panel data covering the years 2004, 2010 composing of publicly listed no...