资源描述：
《上市公司绩效外文文献》由会员上传分享，免费在线阅读，更多相关内容在工程资料-天天文库。
1、TheInternationalJournalofAppliedEconomicsandFinance9(1):25-32,2015ISSN1991-0886/DOI:10.3923/ijaef.2015.25.32©2015AsianNetworkforScientificInformationCapitalStructureandFirmPerformanceofListedNon-FinancialCompaniesinBangladeshMd.AbdurRoufDepartmcntofBusinessAdministra
2、tion,CityUniversity,BangladeshABSTRACTThisstudyinvestigatesthefirmperformanceoncapitalstructureforthelistednon-financialcompaniesinDhakaStockExchange(DSE)fortheperiodof2008-2011underjudgmentsamplingmethod.Specificobjectiveofthisresearchistoexaminetherelationshipbetwe
3、entheattributeofcapitaistructureandtheperformanceasmeasuredbyReturnOnAssets(ROA)andReturnOnSales(ROS).Multipleregressionmodelswereusedtoestimatetheinfluenceofcapitalstructureonfirmperformanceandcapitalstructurewasmeasuredbythedebtratio,debttoequityratio,currentdebtra
4、tio,proprietaryofequityratioandcurrentassetsproprietors1fundsRatio.TheresultsobtainedfromregressionmodelsshowthatDebtRatio,DebtEqu让yRatioandProprietaryofEquityRatioarenegativelyandsignificantrelationshipwithReturnOnAsset(ROA)andReturnOnSales(ROS).Besidethecontrolvari
5、abletotalassetispositivelyandsignificantrelationshipwithReturnOnAsset(ROA)andReturnOnSales(ROS).Keywords:Capitalstructure,firmperformance,DSE,non-financialcompaniesINTRODUCTIONCapitalstructurereferstothemixoflong-termsourcesoffunds,suchasdebentures,long-termdebt,pref
6、erencesharecapitalandequitysharecapitalincludingretainedearnings.Capitalstructureisoneofthemostcomplexareasoffinancialdecisionmakingbecauseofitsinterrelationshipwithotherfinancialdecisionvariables.Poorcapitalstructuredecisionscanresultinahighcostofcapital,thereby,low
7、eringthenetpresentvalueofprojectsandmakingmoreofthemunacceptable.Effectivecapitalstructuredecisionscanlowerthecostofcapital,resultinginhighernetpresentvalueandmoreprojectsthatareacceptableandthereby,increasingthevalueofthefirm・Thestudyexamines,whatistheeffectofcapita
8、lstructureonfirmsperformanceandinparticulardebt?Toanswerofthisquestion,itwilldiscusssomescenarios,whichrelatewiththenatureoftheimpa
