TAILIEUCHUNG - Determinants of capital structure: Evidence from Jordan

This study aimed to explore the determinants of the capital structure of the banks listed in the Amman Stock Exchange. A sample of 13 Jordanian commercial banks of 16 banks listed on the Amman Stock Exchange selected for the period 2008-2017. | http Accounting and Finance Research Vol. 8 No. 4 2019 Determinants of Capital Structure Evidence from Jordan Sufian Radwan Almanaseer1 1 Business Economic Department Business Faculty Tafila Technical University Jordan Correspondence Sufian Radwan Almanaseer P. O. Box 179 Tafila 66110 Jordan. E-mail Received April 22 2019 Accepted October 27 2019 Online Published November 5 2019 doi URL https Abstract This study aimed to explore the determinants of the capital structure of the banks listed in the Amman Stock Exchange. A sample of 13 Jordanian commercial banks of 16 banks listed on the Amman Stock Exchange selected for the period 2008-2017. The current study applied a fixed-effects regression model by using e-views to analyze the relationship between financial leverage and firm characteristics such as Risk Size profitability Growth liquidity Tax Age tangibility and macroeconomic variables such as Gross Domestic Product Inflation. The study finds a significant positive relationship between financial leverage age growth risk size and tax. Also the study finds a significant negative relationship between financial leverage with GDP inflation liquidity profitability and tangibility. Keywords firm size firm growth tax firm risk firm age profitability liquidity tangibility gross domestic product inflation financial leverage 1. Introduction Diamond and Rajan 2000 stated that the bank s capital structure affected its capacity to provide liquidity and credit effectively. Though all firms are similar in a term of the necessity for the capital to support their varied processes and achieve the progression in their work still there is a difference among these banks in their activities which aim to fulfil multiple and contradictory requirements at the same time providing liquidity for depositors on-demand and grant credit for borrowers Kashyap et al. 2002 . Thus the banks success .

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