structure of company; the Trade-off Theory, the Pecking Order Theory and the Market Timing Theory. Our results show the limits …

, Turkey. The trade-off theory provides a better description of the capital structures of all firm types than the pecking order … order theory is most useful when it comes to small publicly-traded manufacturing firms, especially when the economic … theory. Moreover, the trade-off theory appears to be particularly suitable for understanding the financing choices of large …