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Financial Decision of Tunisian Firms in the Context of Market Timing Theory

Year 2013, Volume: 3 Issue: 4, 923 - 931, 01.12.2013

Ramzi Drissi Tarek Ghazouani Assaad Ghazouani

Abstract

This work focuses on the study of the determinants of capital structure in the context of the "Market Timing" theory in a sample of 20 Tunisian firms listed on the Tunis Stock Exchange during the period 2004-2010. The empirical analysis shows that the results are inconclusive regarding the relevance of certain variables from this theoretical framework due to various reasons including market inefficiency. We can also invoke the behavioral dimension of Tunisian companies insofar as direct finance is not often the preferred alternative by the agents as well as to those in need financing capacity.

Keywords

Capital structure Market Timing Theory Market to Book Ratio Panel Data

Year 2013, Volume: 3 Issue: 4, 923 - 931, 01.12.2013

Ramzi Drissi Tarek Ghazouani Assaad Ghazouani

Abstract

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Details

Other ID JA54GR37GP
Journal Section Research Article
Authors

Ramzi Drissi This is me

Tarek Ghazouani This is me

Assaad Ghazouani This is me

Publication Date December 1, 2013
Published in Issue Year 2013 Volume: 3 Issue: 4

Cite

APA Drissi, R., Ghazouani, T., & Ghazouani, A. (2013). Financial Decision of Tunisian Firms in the Context of Market Timing Theory. International Journal of Economics and Financial Issues, 3(4), 923-931.
AMA Drissi R, Ghazouani T, Ghazouani A. Financial Decision of Tunisian Firms in the Context of Market Timing Theory. IJEFI. December 2013;3(4):923-931.
Chicago Drissi, Ramzi, Tarek Ghazouani, and Assaad Ghazouani. “Financial Decision of Tunisian Firms in the Context of Market Timing Theory”. International Journal of Economics and Financial Issues 3, no. 4 (December 2013): 923-31.
EndNote Drissi R, Ghazouani T, Ghazouani A (December 1, 2013) Financial Decision of Tunisian Firms in the Context of Market Timing Theory. International Journal of Economics and Financial Issues 3 4 923–931.
IEEE R. Drissi, T. Ghazouani, and A. Ghazouani, “Financial Decision of Tunisian Firms in the Context of Market Timing Theory”, IJEFI, vol. 3, no. 4, pp. 923–931, 2013.
ISNAD Drissi, Ramzi et al. “Financial Decision of Tunisian Firms in the Context of Market Timing Theory”. International Journal of Economics and Financial Issues 3/4 (December 2013), 923-931.
JAMA Drissi R, Ghazouani T, Ghazouani A. Financial Decision of Tunisian Firms in the Context of Market Timing Theory. IJEFI. 2013;3:923–931.
MLA Drissi, Ramzi et al. “Financial Decision of Tunisian Firms in the Context of Market Timing Theory”. International Journal of Economics and Financial Issues, vol. 3, no. 4, 2013, pp. 923-31.
Vancouver Drissi R, Ghazouani T, Ghazouani A. Financial Decision of Tunisian Firms in the Context of Market Timing Theory. IJEFI. 2013;3(4):923-31.