Abstract
Capital structure practice becomes an interesting puzzle to be solved in the theory of finance in today’s complex corporate world. In this context, this study investigates the determining factors of capital structure pertaining to companies enlisted in NSE in India in the light of various capital structure theories. The inferences of the study indicate that tangibility and liquidity exhibit negative significant association with Leverage and Non-debt Tax Shield (NDTS) shows direct association with leverage. Tangibility and NDTS demonstrates strong dominance in determining degree of leverage during the period. Thus, it is evident that Pecking order theory has more elucidative power in comparison to other theories.
Published Version
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