CAPITAL STRUCTURE AND FIRM PROFITABILITY: ANALYSIS OF LISTED FIRMS IN KAZAKHSTAN

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Date

2019

Journal Title

Journal ISSN

Volume Title

Publisher

СДУ хабаршысы - 2019

Abstract

Abstract. Decisions regarding to capital structure is essential one since firm’s profitability affected by such decision. This study is vital for financial managers to understand an effect of Capital Structure on Profitability. The paper was aimed to examine relationship between Capital Structure and Profitability of listed firms in Kazakhstan over five years’ period from 2013 to 2017. Secondary data such as audited financial statements were used from randomly selected fifty listed companies in Kazakhstan. Regression analysis, specifically, generalized method of moments (GMM) estimator has been employed in order to analyze an impact of capital structure on firm’s performance. The findings of this study revealed that a significant negative relationship between total debt ratio and profitability of Kazakhstani listed firms.

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Keywords

capital structure, profitability, total debt ratio, leverage, СДУ хабаршысы - 2019, №1

Citation

D. Sarsenova , Z. Aigel / CAPITAL STRUCTURE AND FIRM PROFITABILITY: ANALYSIS OF LISTED FIRMS IN KAZAKHSTAN / СДУ хабаршысы - 2019