{"id":"https://openalex.org/W3017320758","doi":"https://doi.org/10.18488/journal.62.2020.73.131.145","title":"Does Capital Structure Affect the Profitability of Listed Family and Non-Family Firms? Evidence from Bangladesh","display_name":"Does Capital Structure Affect the Profitability of Listed Family and Non-Family Firms? Evidence from Bangladesh","publication_year":2020,"publication_date":"2020-01-01","ids":{"openalex":"https://openalex.org/W3017320758","doi":"https://doi.org/10.18488/journal.62.2020.73.131.145","mag":"3017320758"},"language":"en","primary_location":{"id":"doi:10.18488/journal.62.2020.73.131.145","doi":"https://doi.org/10.18488/journal.62.2020.73.131.145","is_oa":true,"landing_page_url":"https://doi.org/10.18488/journal.62.2020.73.131.145","pdf_url":null,"source":{"id":"https://openalex.org/S4210229642","display_name":"International Journal of Business Economics and Management","issn_l":"2312-0916","issn":["2312-0916","2312-5772"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/P4361074916","host_organization_name":"Conscientia Beam","host_organization_lineage":["https://openalex.org/P4361074916"],"host_organization_lineage_names":["Conscientia Beam"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"International Journal of Business, Economics and Management","raw_type":"journal-article"},"volume":null,"type":"article","is_traditional":true,"indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"diamond","oa_url":"https://doi.org/10.18488/journal.62.2020.73.131.145","any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5031269785","display_name":"Mohammad Rajon Meah","orcid":"https://orcid.org/0000-0003-4793-1462","observed_orcids":["https://orcid.org/0000-0003-4793-1462"]},"institutions":[{"id":"https://openalex.org/I205200222","display_name":"Uttara University","ror":"https://ror.org/035zypg15","country_code":"BD","type":"education","lineage":["https://openalex.org/I205200222"]}],"countries":["BD"],"is_corresponding":false,"raw_author_name":"Mohammad Rajon Meah","raw_affiliation_strings":["Lecturer (Accounting), Department of Civil Engineering, Uttara University, Dhaka, Bangladesh"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Lecturer (Accounting), Department of Civil Engineering, Uttara University, Dhaka, Bangladesh","institution_ids":["https://openalex.org/I205200222"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5083046511","display_name":"Nasir Uddin Chaudhory","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I90871651","display_name":"University of Toledo","ror":"https://ror.org/01pbdzh19","country_code":"US","type":"education","lineage":["https://openalex.org/I90871651"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Nasir Uddin Chaudhory","raw_affiliation_strings":["Master of Science in Accountancy, The University of Toledo, Ohio, USA"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Master of Science in Accountancy, The University of Toledo, Ohio, USA","institution_ids":["https://openalex.org/I90871651"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5101565683","display_name":"Md Ibrahim Khalil","orcid":"https://orcid.org/0000-0002-8730-4730","observed_orcids":["https://orcid.org/0000-0002-8730-4730"]},"institutions":[{"id":"https://openalex.org/I205746353","display_name":"University of Dhaka","ror":"https://ror.org/05wv2vq37","country_code":"BD","type":"education","lineage":["https://openalex.org/I205746353"]}],"countries":["BD"],"is_corresponding":false,"raw_author_name":"Md. Ibrahim Khalil","raw_affiliation_strings":["MBA, Department of Management, University of Dhaka, Dhaka, Bangladesh"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"MBA, Department of Management, University of Dhaka, Dhaka, Bangladesh","institution_ids":["https://openalex.org/I205746353"]}]}],"institutions":[],"countries_distinct_count":2,"institutions_distinct_count":3,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":0.2387,"has_fulltext":false,"cited_by_count":1,"citation_normalized_percentile":{"value":0.56887083,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":87,"max":93},"biblio":{"volume":"7","issue":"3","first_page":"131","last_page":"145"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9761000275611877,"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":0.9761000275611877,"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/T11843","display_name":"Family Business Performance and Succession","score":0.011599999852478504,"subfield":{"id":"https://openalex.org/subfields/1407","display_name":"Organizational Behavior and Human Resource 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"}},{"id":"https://openalex.org/T12123","display_name":"Financial Analysis and Corporate Governance","score":0.007400000002235174,"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"}}],"keywords":[{"id":"https://openalex.org/keywords/capital-structure","display_name":"capital structure","score":0.9990000128746033},{"id":"https://openalex.org/keywords/firm-profitability","display_name":"firm profitability","score":0.8289999961853027},{"id":"https://openalex.org/keywords/family-business","display_name":"family business","score":0.9950000047683716},{"id":"https://openalex.org/keywords/non-family-firms","display_name":"non-family firms","score":0.8700000047683716},{"id":"https://openalex.org/keywords/financial-leverage","display_name":"leverage","score":0.5649999976158142},{"id":"https://openalex.org/keywords/debt-financing","display_name":"debt financing","score":0.7760000228881836},{"id":"https://openalex.org/keywords/return-on-assets","display_name":"return on assets","score":0.7940000295639038},{"id":"https://openalex.org/keywords/trade-off-theory","display_name":"trade-off theory","score":0.9440000057220459},{"id":"https://openalex.org/keywords/pecking-order-theory","display_name":"pecking order theory","score":1.0},{"id":"https://openalex.org/keywords/equity-financing","display_name":"equity financing","score":0.7390000224113464},{"id":"https://openalex.org/keywords/bangladesh","display_name":"Bangladesh","score":0.4490000009536743}],"concepts":[{"id":"https://openalex.org/C149933338","wikidata":"https://www.wikidata.org/wiki/Q950816","display_name":"Capital structure","level":3,"score":0.7988661527633667},{"id":"https://openalex.org/C135665773","wikidata":"https://www.wikidata.org/wiki/Q2234049","display_name":"Debt ratio","level":3,"score":0.6964617967605591},{"id":"https://openalex.org/C129361004","wikidata":"https://www.wikidata.org/wiki/Q2470236","display_name":"Profitability index","level":2,"score":0.6465397477149963},{"id":"https://openalex.org/C172983313","wikidata":"https://www.wikidata.org/wiki/Q1567268","display_name":"Pecking order theory","level":4,"score":0.5948923826217651},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.5701901912689209},{"id":"https://openalex.org/C74153512","wikidata":"https://www.wikidata.org/wiki/Q167064","display_name":"Debt-to-equity ratio","level":4,"score":0.566961407661438},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.5641685724258423},{"id":"https://openalex.org/C153083717","wikidata":"https://www.wikidata.org/wiki/Q6535263","display_name":"Leverage (statistics)","level":2,"score":0.5473638772964478},{"id":"https://openalex.org/C200870193","wikidata":"https://www.wikidata.org/wiki/Q11691","display_name":"Stock exchange","level":2,"score":0.5442594885826111},{"id":"https://openalex.org/C120527767","wikidata":"https://www.wikidata.org/wiki/Q3196867","display_name":"Debt","level":2,"score":0.5315083265304565},{"id":"https://openalex.org/C185669311","wikidata":"https://www.wikidata.org/wiki/Q1163221","display_name":"Return on assets","level":3,"score":0.5095449090003967},{"id":"https://openalex.org/C2780148112","wikidata":"https://www.wikidata.org/wiki/Q1432581","display_name":"Proxy (statistics)","level":2,"score":0.5083231329917908},{"id":"https://openalex.org/C59485491","wikidata":"https://www.wikidata.org/wiki/Q1438403","display_name":"Pecking order","level":2,"score":0.41988512873649597},{"id":"https://openalex.org/C73116969","wikidata":"https://www.wikidata.org/wiki/Q16954906","display_name":"Debt-to-capital ratio","level":5,"score":0.41817450523376465},{"id":"https://openalex.org/C155530773","wikidata":"https://www.wikidata.org/wiki/Q591174","display_name":"Return on equity","level":3,"score":0.39127781987190247},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.37512707710266113},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.34702932834625244},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.34057387709617615},{"id":"https://openalex.org/C124972522","wikidata":"https://www.wikidata.org/wiki/Q1303176","display_name":"Equity ratio","level":4,"score":0.17192578315734863},{"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/C149923435","wikidata":"https://www.wikidata.org/wiki/Q37732","display_name":"Demography","level":1,"score":0.0},{"id":"https://openalex.org/C100363876","wikidata":"https://www.wikidata.org/wiki/Q690661","display_name":"Nonprobability sampling","level":3,"score":0.0},{"id":"https://openalex.org/C2908647359","wikidata":"https://www.wikidata.org/wiki/Q2625603","display_name":"Population","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/C144024400","wikidata":"https://www.wikidata.org/wiki/Q21201","display_name":"Sociology","level":0,"score":0.0},{"id":"https://openalex.org/C86803240","wikidata":"https://www.wikidata.org/wiki/Q420","display_name":"Biology","level":0,"score":0.0},{"id":"https://openalex.org/C78458016","wikidata":"https://www.wikidata.org/wiki/Q840400","display_name":"Evolutionary biology","level":1,"score":0.0}],"mesh":[],"locations_count":3,"locations":[{"id":"doi:10.18488/journal.62.2020.73.131.145","doi":"https://doi.org/10.18488/journal.62.2020.73.131.145","is_oa":true,"landing_page_url":"https://doi.org/10.18488/journal.62.2020.73.131.145","pdf_url":null,"source":{"id":"https://openalex.org/S4210229642","display_name":"International Journal of Business Economics and Management","issn_l":"2312-0916","issn":["2312-0916","2312-5772"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/P4361074916","host_organization_name":"Conscientia Beam","host_organization_lineage":["https://openalex.org/P4361074916"],"host_organization_lineage_names":["Conscientia Beam"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"International Journal of Business, Economics and Management","raw_type":"journal-article"},{"id":"pmh:oai:RePEc:pkp:ijobem:2020:p:131-145","doi":null,"is_oa":false,"landing_page_url":"http://www.conscientiabeam.com/journal/62/abstract/5896","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"},{"id":"pmh:oai:RePEc:pkp:ijobem:v:7:y:2020:i:3:p:131-145:id:1239","doi":null,"is_oa":false,"landing_page_url":"https://archive.conscientiabeam.com/index.php/62/article/view/1239/1762","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"}],"best_oa_location":{"id":"doi:10.18488/journal.62.2020.73.131.145","doi":"https://doi.org/10.18488/journal.62.2020.73.131.145","is_oa":true,"landing_page_url":"https://doi.org/10.18488/journal.62.2020.73.131.145","pdf_url":null,"source":{"id":"https://openalex.org/S4210229642","display_name":"International Journal of Business Economics and Management","issn_l":"2312-0916","issn":["2312-0916","2312-5772"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/P4361074916","host_organization_name":"Conscientia Beam","host_organization_lineage":["https://openalex.org/P4361074916"],"host_organization_lineage_names":["Conscientia Beam"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"International Journal of Business, Economics and Management","raw_type":"journal-article"},"sustainable_development_goals":[{"id":"https://metadata.un.org/sdg/8","score":0.48510000109672546,"display_name":"Decent work and economic growth"}],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":0,"referenced_works":[],"related_works":["https://openalex.org/W2172709528","https://openalex.org/W2054000087","https://openalex.org/W2991329390","https://openalex.org/W1961038670","https://openalex.org/W7095545807","https://openalex.org/W7171872086","https://openalex.org/W3034115132","https://openalex.org/W3094875873","https://openalex.org/W2006798404","https://openalex.org/W7099421181"],"abstract_inverted_index":{"The":[0,16],"aim":[1],"of":[2,10,19,43,69,79],"this":[3,80,125],"study":[4,126],"is":[5,36,94,109],"to":[6,71],"examine":[7],"the":[8,67,76,85,105,129,135],"impact":[9],"capital":[11,20],"structure":[12,21],"on":[13,40,57,144],"firm":[14,34],"performance.":[15],"proxy":[17],"variables":[18],"are":[22,73,99,115],"short-term":[23],"debt":[24,27,31,119,147],"ratio,":[25],"long-term":[26],"ratio":[28,32],"and":[29,52,101],"total":[30],"where":[33],"performance":[35],"measured":[37],"by":[38,118],"return":[39],"assets":[41],"(ROA)":[42],"Dhaka":[44],"Stock":[45],"Exchange":[46],"(DSE)":[47],"listed":[48],"39":[49,53],"family":[50,113],"firms":[51,114,141],"non-family":[54,122],"firms.":[55,123],"Based":[56],"a":[58],"paired":[59],"match":[60],"sample":[61,78],"selection":[62],"procedure,":[63],"390":[64],"firm-years":[65],"covering":[66],"period":[68],"2013":[70],"2017":[72],"used":[74],"as":[75,148],"final":[77],"study.":[81],"By":[82],"extrapolating":[83],"from":[84],"Pooled":[86],"Ordinary":[87],"Least":[88],"Square":[89],"(OLS)":[90],"regressions":[91],"results,":[92],"it":[93],"found":[95,111],"that":[96,112,139],"leverage":[97],"ratios":[98],"significantly":[100],"negatively":[102],"associated":[103],"with":[104,128,134],"firm\u2019s":[106],"profitability.":[107],"It":[108],"also":[110],"highly":[116],"influenced":[117],"financing":[120,151],"than":[121,146],"Finally,":[124],"disagrees":[127],"trade-off":[130],"theory":[131,138],"but":[132],"agrees":[133],"pecking":[136],"order":[137],"profitable":[140],"depend":[142],"more":[143],"equity":[145],"their":[149],"key":[150],"option":[152],"in":[153],"Bangladesh.":[154]},"counts_by_year":[{"year":2021,"cited_by_count":1}],"updated_date":"2026-11-08T12:12:28.789561","created_date":"2020-04-24T00:00:00"}
