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 Prime Journal of Business Administration and Management = ISSN: 2251-1261

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Njagi J,

Aduda OJ,

Kisaka ES

Mwangi CI

Murage N

 

 

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Prime Journal of Business Administration and Management

ISSN: 2251-1261.

Volume 7, Issue 4, pp. 2214-2220

© Prime Journals  

 

 

Full Length Research

 

Title

Effect of capital structure on value of companies listed at the Nairobi Securities Exchange

 

Author(s)

1Njagi John , 2Aduda O. Josiah, 2Kisaka Erastus Sifunjo, 2Mwangi Cyrus Iraya, and 2Murage Njagagua

    

Address(es)

1Ph.D Student University of Nairobi School of Business

2Lecturer University of Nairobi School of Business

 

Accepted Date

20th April, 2017

 

Citation

Njagi John, Aduda O. Josiah, Kisaka Erastus Sifunjo, Mwangi Cyrus Iraya, and Murage Njagagua (2017). Effect of capital structure on value of companies listed at the Nairobi Securities Exchange. Prim. J. Bus. Admin. Manage. 7(4): 2214-2220.

 

Abstract

The purpose of this study was to ascertain the influence of capital structure on the value of the firms trading on NSE. The study used longitudinal research design and the population of the study was firms listed at the NSE. The research targeted non-financial firms who actively operated from 2009 to 2014. The value of the firm was determined through firmís market share price. Panel data scrutiny aided in assessing the extent to which the dependent variable is a function of different independent variables. In situations where the panel data do not meet all the assumptions of regression analysis, the panel data was analyzed by fitting a Prais Winsten Panel Regression model with corrected standard error model. Secondary data from 30 non-financial firms for the period of six years from 2009 to 2014 were used in the data analysis. The findings suggest that capital structure affects firm value significantly. The conclusions of this research expand understanding and knowledge within the field of capital structure and firm value.

Key words:
Capital Structure, Firm Value, NSE, Non Financial Firms
.

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