Purpose – The purpose of this paper is to examine the role of institutional, macroeconomic, industry, and firm characteristics on the adjustment speed of corporate capital structure within the context of developing countries. Design/methodology/approach – The authors considers a sample of...

The aim of this study is to empirically investigate the role of firm- industry-, institutional-, and macroeconomic-factors on a firm's capital structure decision in the context of nine African countries. To this end, we consider a sample of 986 non-financial firms over a period of 10 years...

Purpose – The purpose of this paper is to examine the role of institutional, macroeconomic, industry, and firm characteristics on the adjustment speed of corporate capital structure within the context of developing countries. Design/methodology/approach – The authors considers a sample of...

The study seeks to examine how the severity of corruption in a country influences corporate governance and financing decisions of firms. We analyse 15-years (1996-2010) data pertaining to 556 non-financial firms drawn from 10 African countries using models that link firm financing, ownership...