{"id":"https://openalex.org/W2137293375","doi":null,"title":"A Brief Review of Capital Structure Theories","display_name":"A Brief Review of Capital Structure Theories","publication_year":2014,"publication_date":"2014-10-01","ids":{"openalex":"https://openalex.org/W2137293375","mag":"2137293375"},"language":"en","primary_location":{"id":"pmh:oai:eprints.uni-mysore.ac.in:8713","doi":null,"is_oa":false,"landing_page_url":"http://eprints.uni-mysore.ac.in/8713/","pdf_url":null,"source":{"id":"https://openalex.org/S4306400737","display_name":"MyPrints@UOM (Mysore University Library)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I204743663","host_organization_name":"University of Mysore","host_organization_lineage":["https://openalex.org/I204743663"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"","raw_type":"Article"},"volume":null,"type":"article","is_traditional":true,"indexed_in":[],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5032392905","display_name":"Hashemi Tilehnouei Mostafa","orcid":null,"observed_orcids":[]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Hashemi Tilehnouei Mostafa","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]},{"author_position":"last","author":{"id":"https://openalex.org/A5078838950","display_name":"Shivaraj Boregowda","orcid":null,"observed_orcids":[]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Shivaraj Boregowda","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]}],"institutions":[],"countries_distinct_count":0,"institutions_distinct_count":0,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":0.0,"has_fulltext":false,"cited_by_count":34,"citation_normalized_percentile":{"value":0.0,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":93,"max":99},"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9980000257492065,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9980000257492065,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12123","display_name":"Financial Analysis and Corporate Governance","score":0.0008999999845400453,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12675","display_name":"Financial Reporting and Valuation Research","score":0.00019999999494757503,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/capital-structure","display_name":"capital structure","score":0.746999979019165},{"id":"https://openalex.org/keywords/trade-off-theory","display_name":"trade-off theory","score":0.921999990940094},{"id":"https://openalex.org/keywords/pecking-order-theory","display_name":"pecking order theory","score":0.9980000257492065},{"id":"https://openalex.org/keywords/agency-theory","display_name":"agency theory","score":0.628000020980835},{"id":"https://openalex.org/keywords/optimal-debt-ratio","display_name":"optimal debt ratio","score":0.6320000290870667},{"id":"https://openalex.org/keywords/retained-earnings","display_name":"retained earnings","score":0.7310000061988831},{"id":"https://openalex.org/keywords/tax-benefits-of-debt","display_name":"tax benefits of debt","score":0.7760000228881836},{"id":"https://openalex.org/keywords/stock-issuance","display_name":"share issuance","score":0.6690000295639038},{"id":"https://openalex.org/keywords/default-probability","display_name":"default probability","score":0.6240000128746033},{"id":"https://openalex.org/keywords/free-cash-flow","display_name":"free cash flow","score":0.8619999885559082},{"id":"https://openalex.org/keywords/managerial-reputation","display_name":"managerial reputation","score":0.6759999990463257},{"id":"https://openalex.org/keywords/managerial-ownership","display_name":"managerial ownership","score":0.9129999876022339},{"id":"https://openalex.org/keywords/modigliani-miller-theorem","display_name":"Modigliani-Miller theorem","score":0.7889999747276306}],"concepts":[{"id":"https://openalex.org/C172983313","wikidata":"https://www.wikidata.org/wiki/Q1567268","display_name":"Pecking order theory","level":4,"score":0.8560066223144531},{"id":"https://openalex.org/C149933338","wikidata":"https://www.wikidata.org/wiki/Q950816","display_name":"Capital structure","level":3,"score":0.8021924495697021},{"id":"https://openalex.org/C47702881","wikidata":"https://www.wikidata.org/wiki/Q1303118","display_name":"Internal financing","level":3,"score":0.6027545928955078},{"id":"https://openalex.org/C2778776786","wikidata":"https://www.wikidata.org/wiki/Q1455109","display_name":"External financing","level":3,"score":0.5701915621757507},{"id":"https://openalex.org/C153083717","wikidata":"https://www.wikidata.org/wiki/Q6535263","display_name":"Leverage (statistics)","level":2,"score":0.56972336769104},{"id":"https://openalex.org/C120527767","wikidata":"https://www.wikidata.org/wiki/Q3196867","display_name":"Debt","level":2,"score":0.5404364466667175},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.4904305636882782},{"id":"https://openalex.org/C80515813","wikidata":"https://www.wikidata.org/wiki/Q1134763","display_name":"Corporate finance","level":2,"score":0.4664230942726135},{"id":"https://openalex.org/C2778098874","wikidata":"https://www.wikidata.org/wiki/Q240691","display_name":"Retained earnings","level":3,"score":0.4640589952468872},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.45456555485725403},{"id":"https://openalex.org/C36673458","wikidata":"https://www.wikidata.org/wiki/Q392896","display_name":"Agency cost","level":4,"score":0.4490349292755127},{"id":"https://openalex.org/C163428354","wikidata":"https://www.wikidata.org/wiki/Q1047513","display_name":"Cash flow","level":2,"score":0.42567169666290283},{"id":"https://openalex.org/C199728807","wikidata":"https://www.wikidata.org/wiki/Q2578557","display_name":"Equity (law)","level":2,"score":0.4198911488056183},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.38925856351852417},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.35928094387054443},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.33903923630714417},{"id":"https://openalex.org/C120757647","wikidata":"https://www.wikidata.org/wiki/Q381136","display_name":"Shareholder","level":3,"score":0.0},{"id":"https://openalex.org/C119857082","wikidata":"https://www.wikidata.org/wiki/Q2539","display_name":"Machine learning","level":1,"score":0.0},{"id":"https://openalex.org/C39389867","wikidata":"https://www.wikidata.org/wiki/Q380767","display_name":"Corporate governance","level":2,"score":0.0},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.0},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.0},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"pmh:oai:eprints.uni-mysore.ac.in:8713","doi":null,"is_oa":false,"landing_page_url":"http://eprints.uni-mysore.ac.in/8713/","pdf_url":null,"source":{"id":"https://openalex.org/S4306400737","display_name":"MyPrints@UOM (Mysore University Library)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I204743663","host_organization_name":"University of Mysore","host_organization_lineage":["https://openalex.org/I204743663"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"","raw_type":"Article"},{"id":"mag:2137293375","doi":null,"is_oa":false,"landing_page_url":"http://www.isca.in/rjrs/archive/v3/i10/19.ISCA-RJRS-2013-772.pdf","pdf_url":null,"source":null,"license":null,"license_id":null,"version":null,"is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":null}],"best_oa_location":null,"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":29,"referenced_works":["https://openalex.org/W1532339465","https://openalex.org/W1546993880","https://openalex.org/W1858733141","https://openalex.org/W1860739753","https://openalex.org/W2031248119","https://openalex.org/W2041585309","https://openalex.org/W2071206222","https://openalex.org/W2071659251","https://openalex.org/W2109360003","https://openalex.org/W2121308228","https://openalex.org/W2122529435","https://openalex.org/W2124597406","https://openalex.org/W2125664626","https://openalex.org/W2126603824","https://openalex.org/W2129123189","https://openalex.org/W2140041112","https://openalex.org/W2146880834","https://openalex.org/W2160860931","https://openalex.org/W2167351159","https://openalex.org/W2170790204","https://openalex.org/W3121825198","https://openalex.org/W3123142049","https://openalex.org/W3123906439","https://openalex.org/W3124114405","https://openalex.org/W3124324454","https://openalex.org/W3124353652","https://openalex.org/W3124450204","https://openalex.org/W3124871904","https://openalex.org/W3125087107"],"related_works":["https://openalex.org/W7219931390","https://openalex.org/W2581592997","https://openalex.org/W2947197391","https://openalex.org/W349541095","https://openalex.org/W3122153419","https://openalex.org/W4240580400","https://openalex.org/W2578867799","https://openalex.org/W3183020500","https://openalex.org/W7111005262","https://openalex.org/W229978768"],"abstract_inverted_index":{"This":[0],"paper":[1,16],"surveys":[2],"literatures":[3],"on":[4,135,232],"five":[5],"theories":[6,10,85],"of":[7,30,52,56,62,86,158,172,180,187,195,217,229],"capital":[8,87],"structure":[9],"from":[11],"Modigliani":[12],"and":[13,21,34,44,64,78,118,154,192,214],"Miller":[14],"research":[15],"at":[17,23],"1958":[18],"to":[19,41,112,169,206],"Halov":[20],"heider":[22],"2004.":[24],"There":[25],"are":[26,72,82,223],"two":[27],"main":[28],"sources":[29],"firms\u2019":[31,69,110],"financing:":[32],"internal":[33,37,113],"external":[35,45,116],"financing,":[36],"financing":[38,46,70],"is":[39,166,204],"related":[40,168],"retained":[42],"earnings":[43],"could":[47],"be":[48,127,142],"in":[49],"the":[50,90,105,123,145,150,170,193,200,211,215,227],"form":[51],"borrowing":[53],"or":[54,137],"issue":[55],"equity.":[57,121],"Firms":[58],"continuously":[59],"invest":[60],"because":[61],"sustain":[63],"growth,":[65],"for":[66],"these":[67],"reasons":[68],"decisions":[71],"very":[73],"important.":[74],"Traditional":[75],"trade-off":[76,92],"theory":[77,81,93,108],"pecking":[79,106],"order":[80,107],"most":[83],"acceptable":[84],"structure.":[88],"As":[89,161],"traditional":[91],"asserts,":[94],"firms":[95],"have":[96,207],"one":[97],"optimal":[98],"debt":[99,119,130,151],"ratio":[100],"(target":[101],"leverage).":[102],"In":[103],"comparison":[104],"implies":[109],"preference":[111],"finance":[114,117],"over":[115,120],"From":[122],"literature":[124],"it":[125,140],"cannot":[126],"concluded":[128],"\\nwhether":[129],"has":[131],"any":[132],"tax":[133],"benefit":[134],"balance":[136],"not.":[138],"But":[139],"can":[141],"said":[143],"that":[144],"share":[146],"price":[147],"increases":[148],"with":[149,210],"issuing":[152],"announcement":[153,157],"falls":[155],"after":[156],"equity":[159],"issue.":[160],"agency":[162],"models":[163],"anticipate,":[164],"leverage":[165,203],"directly":[167],"value":[171],"firm,":[173],"default":[174],"probability,":[175],"free":[176],"cash":[177],"flow,":[178],"extent":[179],"regulation,":[181],"liquidity":[182],"value,":[183],"interest":[184],"coverage,":[185],"cost":[186],"investigation":[188],"\\nof":[189],"firm\u2019s":[190],"prospects":[191],"probability":[194],"reorganization":[196],"upon":[197],"default.":[198],"On":[199],"other":[201],"hand,":[202],"expected":[205],"inverse":[208],"relationship":[209],"growth":[212],"opportunities":[213],"importance":[216],"managerial":[218,230],"reputation.":[219],"And":[220],"also,":[221],"there":[222],"no":[224],"conclusions":[225],"about":[226],"effects":[228],"ownership":[231],"leverage.":[233]},"counts_by_year":[{"year":2025,"cited_by_count":2},{"year":2024,"cited_by_count":2},{"year":2023,"cited_by_count":10},{"year":2022,"cited_by_count":3},{"year":2021,"cited_by_count":7},{"year":2020,"cited_by_count":4},{"year":2019,"cited_by_count":3},{"year":2018,"cited_by_count":3}],"updated_date":"2026-11-08T12:12:28.789561","created_date":"2016-06-24T00:00:00"}
