The aim of this study is to determine the financial factors that affect the capital structure of the firms in Borsa Istanbul (formerly IMKB) food industry (XGIDA). In this context, information obtained from the balance sheets, income statements and cash-‐flow statements of 19 firms were analyzed for 6 years (2007-‐2012) by using panel data analysis. In the study total debt to total asset ratio (leverage ratio) is used as the dependent variable while non-‐debt tax shield, size, profitability and asset structure are used as the independent variables. According to the findings, it is detected that non-‐debt tax shield, growth, profitability and asset structure had a significant negative effect on the leverage. The results of the study confirm the main aspects of Pecking Order Theory. On the other hand, the only result that supports Trade-‐off Theory is the non-‐debt tax shield. SERMAYE YAPISINI BELİRLEYEN FAKTÖRLER: BORSA İSTANBUL’DA İŞLEM GÖREN GIDA FİRMALARI ÜZERİNE BİR UYGULAMA
Field : Sosyal, Beşeri ve İdari Bilimler
Journal Type : Ulusal
