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: 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...

This paper examines the signaling hypothesis of firm's debt on its market value in a transitional market. The methodology addresses at the first stage the determination of the relevant determinants of capital structure in a transitional economy. Next, the potential signaling effects of the...