Recent studies examining the effects of a credit rating on firms’ capital structure and adjustment of capital structure to target have focused predominantly on non-financial firms, with virtually no attention given to financial institutions. Using an international sample of 391 rated banks...

Capital structure has attracted intense debate and scholarly attention in the financial management arena over the past four decades. However, in the context of sub-Saharan Africa capital structure has received a scant attention. This paper attempts to rectify this position by considering the...