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Impact of Value Relevance of Financial Performance Information and Corporate Governance on Capital Structure : Evidence from Egyptian Manufacturing Firms

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Last updated: 22 Jan 2023

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Abstract

This research empirically investigates the impact of value relevance of financial accounting based performance information, stock valuation and corporate governance on capital structure choice in Egypt listed manufacturing firms. Multiple regression analysis is used to examine the association between leverage level and research independent variables for a sample of 52 Egyptian listed manufacturing firms from 2006-2010. The results show that capital structure choice has a weak-to-no relation to firm's performance and corporate governance. Findings show that the value relevance of organizational performance and corporate governance both have insignificant interactive influence on the capital structure. The results shows that profitability and operational performance has a negative insignificant relationship with capital structure, while liquidity and stock valuation has a positive relationship with firm financial leverage, price/earning has significant impact to the capital structure.

DOI

10.21608/atasu.2015.50003

Keywords

مصر, الشرکات الصناعية, المعلومات المحاسبية, النظم المحاسبية, رأس المال, حوکمة الشرکات, الصناعة, تقويم الأدا

Authors

First Name

Nevine Sobhy

Last Name

Abdel Megeid

MiddleName

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Affiliation

Arab Academy for Science, Technology and Maritime Transport College of Management and Technology

Email

nevinesobhy2@hotmail.com

City

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Orcid

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Volume

19

Article Issue

1

Related Issue

7640

Issue Date

2015-04-01

Receive Date

2019-09-27

Publish Date

2015-04-01

Page Start

73

Page End

108

Print ISSN

2356-8402

Online ISSN

2682-3128

Article File

ATASU_Volume 19_Issue 1_Pages 73-108.pdf

PDF . 373.2kB

Link

https://atasu.journals.ekb.eg/article_50003.html

Detail API

https://atasu.journals.ekb.eg/service?article_code=50003

Order

20

Type

المقالة الأصلية

Type Code

907

Publication Type

Journal

Publication Title

الفکر المحاسبى

Publication Link

https://atasu.journals.ekb.eg/

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Article

Created At

22 Jan 2023