Abstract
The study of corporate capital structure is no longer limited to listed, large-scale businesses; rather, the global executive growth of small and medium-sized businesses is a pressing concern that necessitates thorough investigation of the "Capital structure" of such businesses. In the current environment, more research is needed to determine how to create a sophisticated model that will be successful in providing Debt capital towards the health sector businesses. In this regard, the authors attempted to determine the impact of a few firm-specific variables on the debt financing choices made by small and medium-sized health sector companies. To conduct the study, the researchers employed 246 observations for the period 2017-2022, used descriptive statistics, panel unit root test, Wald exogenity and system GMM analysis and concluded that due to the volatility of the debt market, the RBI's interest rate policy, and other variables, SME health sector companies frequently experience financial difficulties. As a result, they are occasionally unable to obtain formal financing. Hence, it is advised that the government, financial institutions, and policymakers adopt a strong SME-focused health sector financing policy in order to increase the sector's financing flexibility and borrower-centricity.
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