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Determinants of Corporate Performance: Modelling Approach

Author

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  • Ewa Majerowska

    (University of Gdañsk)

  • Magdalena Gostkowska-Drzewicka

    (University of Gdañsk)

Abstract

This study is to investigate the influence of the selected factors of the capital structure on the corporate performance. An empirical analysis covers a sample of 90 non-financial companies traded on the Warsaw Stock Exchange, in the period of 2000-2015. The panel data models for two corporate performance measures such ROA and ROE were estimated. The company’s capital structure negatively affects its performance. It is in line with pecking order theory and previous studies on capital structure of Polish companies.

Suggested Citation

  • Ewa Majerowska & Magdalena Gostkowska-Drzewicka, 2017. "Determinants of Corporate Performance: Modelling Approach," Dynamic Econometric Models, Uniwersytet Mikolaja Kopernika, vol. 17, pages 115-127.
    • Handle: RePEc:cpn:umkdem:v:17:y:2017:p:115-127
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    References listed on IDEAS

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    More about this item

    Keywords

    capital structure; efficiency; panel data modelling; ROA; ROE;
    All these keywords.

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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