國立虎尾科技大學 |

A Quantitative Study of the Capital Structure Decision in the State of Washington.

紀錄類型:	書目-語言資料,手稿 : Monograph/item
正題名/作者:	A Quantitative Study of the Capital Structure Decision in the State of Washington./
作者:	Nago, Franck.
面頁冊數:	1 online resource (149 pages)
附註:	Source: Dissertation Abstracts International, Volume: 79-03(E), Section: A.
Contained By:	Dissertation Abstracts International79-03A(E).
標題:	Finance. -
電子資源:	click for full text (PQDT)
ISBN:	9780355491029

A Quantitative Study of the Capital Structure Decision in the State of Washington.
Nago, Franck.

A Quantitative Study of the Capital Structure Decision in the State of Washington. - 1 online resource (149 pages)

Source: Dissertation Abstracts International, Volume: 79-03(E), Section: A.

Thesis (Ph.D.)

Includes bibliographical references

The purpose of this quantitative study was to examine the capital structure decisions of US businesses that operate in the state of Washington. The author collected secondary data of GDP, inflation and interest rates from the Federal Reserve database. In this study, participants were businesses with public financial records in the state of Washington, and an annual gross sale of at least one million US dollars with a minimum of four years of continuing economic activity. The author used a minimum sample size of 88 business organizations using G*Power 3.1, a t-test, a priori power analysis with a power of 0.90, significance of 0.05, and medium effect size of 0.3. The study was based on the collection and statistical analysis of financial data to determine correlation, trend, dispersion, and general tendency between the dependent variable (leverage) and the independent variables (growth, profitability, size, asset tangibility, financial risk, GDP, inflation, interest rate). Results of the study did not offer empirical support for the tradeoff theory or the perking order theory of capital structure. The study result reveals a weak positive non-significant relationship between GDP, inflation, interest rate and leverage and a weak negative non-significant correlation between leverage, growth, size, tangible assets and financial risk for US businesses operating in the state of Washington. Those results are, however, inconsistent with result from the nonequivalent control group (German corporations) which clearly identified two variables (growth and financial risk) as significant in predicting capital structure. Results from this quantitative study suggest that the eight independent variables identified in the literature review as plausible predictors of the capital structure, explain only 9% of the change of leverage in the state of Washington. The results of this quantitative study imply that 91% of leverage decisions in the state of Washington were triggered by variables other than change in growth, profitability, financial risk, assets, GDP, interest rate, and inflation. Result of this study may suggest that qualitative variables, which may be hard to quantify, influence the use of leverage at least in the state of Washington; this call for additional researches that include qualitative data.

Electronic reproduction.
Ann Arbor, Mich. :
ProQuest,
2018

Mode of access: World Wide Web

ISBN: 9780355491029Subjects--Topical Terms:

559073
Finance.
Index Terms--Genre/Form:

554714
Electronic books.

A Quantitative Study of the Capital Structure Decision in the State of Washington.
LDR:03603ntm a2200337Ki 4500 001 909936
005 20180426091050.5
006 m o u
007 cr mn||||a|a||
008 190606s2017 xx obm 000 0 eng d
020 $a 9780355491029
035 $a (MiAaPQ)AAI10640935
035 $a (MiAaPQ)northcentral:12519
035 $a AAI10640935
040 $a MiAaPQ $b eng $c MiAaPQ
099 $a TUL $f hyy $c available through World Wide Web
100 1 $a Nago, Franck. $3 1180956
245 1 2 $a A Quantitative Study of the Capital Structure Decision in the State of Washington.
264 0 $c 2017
300 $a 1 online resource (149 pages)
336 $a text $b txt $2 rdacontent
337 $a computer $b c $2 rdamedia
338 $a online resource $b cr $2 rdacarrier
500 $a Source: Dissertation Abstracts International, Volume: 79-03(E), Section: A.
500 $a Adviser: Richard Dool.
502 $a Thesis (Ph.D.) $c Northcentral University $d 2017.
504 $a Includes bibliographical references
520 $a The purpose of this quantitative study was to examine the capital structure decisions of US businesses that operate in the state of Washington. The author collected secondary data of GDP, inflation and interest rates from the Federal Reserve database. In this study, participants were businesses with public financial records in the state of Washington, and an annual gross sale of at least one million US dollars with a minimum of four years of continuing economic activity. The author used a minimum sample size of 88 business organizations using G*Power 3.1, a t-test, a priori power analysis with a power of 0.90, significance of 0.05, and medium effect size of 0.3. The study was based on the collection and statistical analysis of financial data to determine correlation, trend, dispersion, and general tendency between the dependent variable (leverage) and the independent variables (growth, profitability, size, asset tangibility, financial risk, GDP, inflation, interest rate). Results of the study did not offer empirical support for the tradeoff theory or the perking order theory of capital structure. The study result reveals a weak positive non-significant relationship between GDP, inflation, interest rate and leverage and a weak negative non-significant correlation between leverage, growth, size, tangible assets and financial risk for US businesses operating in the state of Washington. Those results are, however, inconsistent with result from the nonequivalent control group (German corporations) which clearly identified two variables (growth and financial risk) as significant in predicting capital structure. Results from this quantitative study suggest that the eight independent variables identified in the literature review as plausible predictors of the capital structure, explain only 9% of the change of leverage in the state of Washington. The results of this quantitative study imply that 91% of leverage decisions in the state of Washington were triggered by variables other than change in growth, profitability, financial risk, assets, GDP, interest rate, and inflation. Result of this study may suggest that qualitative variables, which may be hard to quantify, influence the use of leverage at least in the state of Washington; this call for additional researches that include qualitative data.
533 $a Electronic reproduction. $b Ann Arbor, Mich. : $c ProQuest, $d 2018
538 $a Mode of access: World Wide Web
650 4 $a Finance. $3 559073
655 7 $a Electronic books. $2 local $3 554714
690 $a 0508
710 2 $a ProQuest Information and Learning Co. $3 1178819
710 2 $a Northcentral University. $b School of Business and Technology Management. $3 1180957
773 0 $t Dissertation Abstracts International $g 79-03A(E).
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=10640935 $z click for full text (PQDT)