TAILIEUCHUNG - A goal programming approach to the study of optimal capital structure in the context of Indian corporate firms

The present study has been conducted to check the possible existence of an optimal capital structure in the Indian corporate sector. | A goal programming approach to the study of optimal capital structure in the context of Indian corporate firms International Journal of Management IJM Volume 11 Issue 3 March 2020 pp. 193 207 Article ID IJM_11_03_021 Available online at http ijm JType IJM amp VType 11 amp IType 3 Journal Impact Factor 2020 Calculated by GISI ISSN Print 0976-6502 and ISSN Online 0976-6510 IAEME Publication Scopus Indexed A GOAL PROGRAMMING APPROACH TO THE STUDY OF OPTIMAL CAPITAL STRUCTURE IN THE CONTEXT OF INDIAN CORPORATE FIRMS Uma Charan Pati Assistant Professor School of Economics Gangadhar Meher University Amruta Vihar Sambalpur Odisha India amp . Scholar in Sambalpur University Sambalpur Odisha India Sudhanshu Sekhar Rath Former Vice Chancellor Gangadhar Meher University AmrutaVihar Sambalpur Odisha India ABSTRACT The capital structure controversy debate is still to die down even after five decades of its birth from the seminal work by Modigliani and Miller in 1958. The irrelevance theorem was proved wrong by many later day theorists empiricists but many postulated it otherwise. The existence of an optimal capital structure in the corporate sector has been debated extensively and non-conclusively too. The present study has been conducted to check the possible existence of an optimal capital structure in the Indian corporate sector. Besides other descriptive statistical techniques the linear goal programming technique has been used to study whether the optimality objective is achieved by the thirty companies selected from private public and IT sectors. The goal programming results show the non-existence of something called an optimal capital structure and instead corporate firms are inclined towards achieving multiple objectives goals at a time and hence not optimizing rather satisfying level of achievement at multiple ends is the goal in the present globalised era of fierce competitions. Keywords Corporate Finance Goal .

• Quản lý dự án
• Optimal capital structure
• Indian corporate sector
• Multi objective goal setting
• Globalised era of fierce competitions
• Capital structure controversy debate
• Finance management
• Fundamentals of finance management
• Operating leverage
• Capital structure theory
• Financial management
• Fundamentals of financial management
• Financial statement
• Quản lý tài chính
• Capital structure
• Listed companies
• Vietnamese construction firms
• Trade off hypothesis
• Geometric Brownian motion
• Parameters estimation
• Static optimal capital structure
• Structural approach
• Drift and volatility
• Capital Structuring
• External Funds
• Debt Profile Management
• Funding Options
• Hybrid Financial Instruments
• Assessing the cost of capital
• Return investors require
• Understanding financing
• Payout decisions
• Creating value
• Applied corporate finance
• Corporate finance
• The optimal financial mix
• The financing details
• Dividend policy
• Phytoremediation
• Biofortification and Nanoparticles
• Absorption
• Transport and Control Mechanisms
• Defence Strategies
• Annual Plants