Influence of Firm Financial Characteristics on Leverage of Manufacturing Firms Listed Companies in Nairobi Securities Exchanges

Author(s)

Helen Wairimu ,

Download Full PDF Pages: 139-150 | Views: 689 | Downloads: 197 | DOI: 10.5281/zenodo.3456782

Volume 8 - March 2019 (03)

Abstract

Securities exchanges have greater roles to play in regard to economic and social development in both developed and developing economies. Hence, this paper examined the influence of firm financial characteristics on the leverage of manufacturing listed companies in Nairobi securities exchange. Panel data was collected from annual financial statements and panel regression modelling was adopted to analyze the data. Operating cash flows had a significant moderating effect on the influence of firm financial characteristics on the leverage of manufacturing listed firms in Nairobi securities exchange

Keywords

Financial characteristics, Firm size, Profitability, Tangibility, Growth opportunities

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