Analysis of Financing Decisions: A TCCM Validation

Abstract

When defining the capital structure of a company, the financing decisions are the most important and strategic aspect. Since its inception, several researchers have delved into this topic area. Taking into account the numerous structures and the outcome, several academics have demonstrated the best financial decision options. Even after years of research and analysis in the era of global capitalism, the topic of financial decisions remains rich and up to date. This review has looked at the topic of financing decisions research from 1952 to 2022 and shown how far it has come. This analysis compiles and examines prior research on the “theories, contexts, characteristics, and methods” (“TCCM”) of financial decision-making choices. In order to compile exhaustive data, a “seven-stage approach” (“SSM”) has been created. Scopus, Web of Science, EBSCO, and homepage of journal were mined for the research papers in order to forestall the fallacy of exclusion based on selection criteria of highly regarded journals and language. The paper's overarching goal is to point out pressing problems, unanswered questions, and promising new lines of inquiry that could be explored. This review includes 148 papers after extensive searching and careful evaluation. In order to get a full picture of an area, researchers perform a methodical examination of the relevant literature (called a "systematic literature review," or "SLR").  Findings from studies on the factors that influence and are affected by the final financial decision are mapped out in a comprehensive conceptual framework. In order to move this field forward, a framework for future study has been provided based on the findings of the in-depth content analysis. This study may lead to new ways of thinking about corporate finance, which in turn could change the game in terms of what kinds of funding choices businesses have at their disposal.