Purpose: The main objective of this study is to examine whether firms follow the financing hierarchy as suggested by the Pecking Order Theory (hereinafter POT). The External Funds Needed (hereinafter EFN) Model offers a financing hierarchy that can be used for examining the POT. As far as the...

Purpose – The purpose of this paper is to examine firms' strategies to change long- and short-term debt financing in Egypt. It aims to examine a list of capital structure determinants that include the basic assumptions of the three well-known theories of capital structure: tradeoff, pecking...

Purpose – This research paper aims at examining the determinants of corporate leverage in Egypt according to the assumptions of three theories of capital structure: tradeoff, pecking order, and free cash flow.Design/methodology/approach – The methodology utilizes the benefits of the partial...