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Capital structure and determinants of capital structure, before, during and after the 2008 financial crisis: A South African study
This study examines the effects of 2007/8 financial crisis on capital structure determinants of Johannesburg Stock Exchange (JSE) listed companies in South Africa. Data extracted from INET BFA Expert database was analyzed using regression models on the correlation between the leverage and company si...
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| Format: | Thesis |
| Language: | English |
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Department of Finance and Tax
2021
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| _version_ | 1867613226330488832 |
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| access_status_str | Open Access |
| author | Ntshobane, Gcobisa |
| author2 | Chamisa, Edward |
| author_browse | Chamisa, Edward Ntshobane, Gcobisa |
| author_facet | Chamisa, Edward Ntshobane, Gcobisa |
| author_sort | Ntshobane, Gcobisa |
| collection | Thesis |
| description | This study examines the effects of 2007/8 financial crisis on capital structure determinants of Johannesburg Stock Exchange (JSE) listed companies in South Africa. Data extracted from INET BFA Expert database was analyzed using regression models on the correlation between the leverage and company size, growth, profitability, tangibility, liquidity, non-debt tax shield along with Ordinary Least Squares based on the sample of JSE listed companies for the period of 2004 to 2013. The study examined two industries namely, Real estate and Retail industry. The results show that size, tangibility, profitability and liquidity have significant impact on the capital structure before, during and after financial crisis. Growth results were inconsistent over the period under review, and non-debt tax shield was found to be statistically insignificant. The study also shows that the 2007/8 had statistical significance on the capital structure of the listed companies in South Africa. |
| format | Thesis |
| id | oai:open.uct.ac.za:11427/33941 |
| institution | University of Cape Town (South Africa) |
| language | eng |
| last_indexed | 2026-06-10T12:32:46.693Z |
| license_str | Not specified — see source repository |
| provenance_str_mv | Harvested via OAI-PMH from UCTD — University of Cape Town Open Access Repository |
| publishDate | 2021 |
| publishDateRange | 2021 |
| publishDateSort | 2021 |
| publisher | Department of Finance and Tax |
| publisherStr | Department of Finance and Tax |
| record_format | dspace |
| source_str | UCTD — University of Cape Town Open Access Repository |
| spelling | oai:open.uct.ac.za:11427/33941 Capital structure and determinants of capital structure, before, during and after the 2008 financial crisis: A South African study Ntshobane, Gcobisa Chamisa, Edward Pamburai, Hamutyinei Harvey Capital Structure leverage financial crisis debt determinants Ordinary Least Square This study examines the effects of 2007/8 financial crisis on capital structure determinants of Johannesburg Stock Exchange (JSE) listed companies in South Africa. Data extracted from INET BFA Expert database was analyzed using regression models on the correlation between the leverage and company size, growth, profitability, tangibility, liquidity, non-debt tax shield along with Ordinary Least Squares based on the sample of JSE listed companies for the period of 2004 to 2013. The study examined two industries namely, Real estate and Retail industry. The results show that size, tangibility, profitability and liquidity have significant impact on the capital structure before, during and after financial crisis. Growth results were inconsistent over the period under review, and non-debt tax shield was found to be statistically insignificant. The study also shows that the 2007/8 had statistical significance on the capital structure of the listed companies in South Africa. 2021-09-15T21:50:46Z 2021-09-15T21:50:46Z 2021 2021-09-15T01:04:32Z Master Thesis Masters MCom http://hdl.handle.net/11427/33941 eng application/pdf Department of Finance and Tax Faculty of Commerce |
| spellingShingle | Capital Structure leverage financial crisis debt determinants Ordinary Least Square Ntshobane, Gcobisa Capital structure and determinants of capital structure, before, during and after the 2008 financial crisis: A South African study |
| thesis_degree_str | Master's |
| title | Capital structure and determinants of capital structure, before, during and after the 2008 financial crisis: A South African study |
| title_full | Capital structure and determinants of capital structure, before, during and after the 2008 financial crisis: A South African study |
| title_fullStr | Capital structure and determinants of capital structure, before, during and after the 2008 financial crisis: A South African study |
| title_full_unstemmed | Capital structure and determinants of capital structure, before, during and after the 2008 financial crisis: A South African study |
| title_short | Capital structure and determinants of capital structure, before, during and after the 2008 financial crisis: A South African study |
| title_sort | capital structure and determinants of capital structure before during and after the 2008 financial crisis a south african study |
| topic | Capital Structure leverage financial crisis debt determinants Ordinary Least Square |
| url | http://hdl.handle.net/11427/33941 |
| work_keys_str_mv | AT ntshobanegcobisa capitalstructureanddeterminantsofcapitalstructurebeforeduringandafterthe2008financialcrisisasouthafricanstudy |