Journals › Kelaniya Journal of Management
The Relationship between Capital Structure and Ownership Structure: Evidence from Listed Companies in Hotel and Manufacturing Sectors in Sri Lanka
Kelaniya Journal of Management 6(2): 33–51 · 2017
https://doi.org/10.4038/kjm.v6i2.7544
Abstract
This study examines the relationship between capital structure and ownership structure for a sample of thirty-eight listed companies in the hotel and manufacturing sectors in the Colombo Stock Exchange (CSE) in Sri Lanka over the period of 2011-2015. All the secondary data were collected from audited annual reports of each company and data were analyzed using descriptive statistics and regression analysis. Mainly the ownership structure is measured using individual, managerial, institutional and share ownership concentration. Furthermore, the impact of Profit and Tangibility on capital structure is also examined in the study. The results revealed the managerial ownership and ownership concentration have significant influence on the capital structure. In the comparison of hotel sector and manufacturing sector listed companies in CSE we can identify that there is higher impact of ownership structure on capital structure in manufacturing sector compared to the hotel sector.
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This index records bibliographic metadata and links to the publisher's own page. It does not host or link directly to full text. Citations recorded: 4.