Effect of Capital Structure on the Financial Performance of Ethiopian Food and Beverage Manufacturing Firms Industry
| dc.contributor.advisor | Abebaw, Kassie (PhD) | |
| dc.contributor.author | Znaye, Mamo | |
| dc.date.accessioned | 2019-01-03T11:53:42Z | |
| dc.date.accessioned | 2023-11-04T07:57:21Z | |
| dc.date.available | 2019-01-03T11:53:42Z | |
| dc.date.available | 2023-11-04T07:57:21Z | |
| dc.date.issued | 2018-12 | |
| dc.description | A Thesis to Addis Ababa University College of Business and Economics Department of Accounting and Finance in Partial Fulfillment of the Requirements for the Degree of Master of Science in Accounting and Finance | en_US |
| dc.description.abstract | The purpose of this thesis is to provide evidence on the effect of capital structure on the financial performance of food and beverage manufacturing companies categorized under large tax payer in Ethiopia. The study applied explanatory research design and panel data regression analysis. In order to answer the research question, secondary data was collected from the sample of thirteen large tax payer food and beverage manufacturing companies covering five years period (2013-2017). In the present study, able to examine the effect of capital structure variables with two financial performance measuring variables (ROA and ROE) and long term debt and short term debt as a capital structure variables and also growth, firm size, asset tangibility from firm specific and inflation from macroeconomic factors are included as a control variables. E-Views version 10 software packages was used to make regression analysis. The finding from capital structure variables indicates: long term debt has a significant negative effect on financial performance of FBMCs but short term debt has insignificant positive effect, and from control variables growth and firm size has a significant positive relation, asset tangibility has also a significant but negative effect. However inflation rate has no significant effect on financial performance of Ethiopian Food and Beverage Manufacturing (FBMCs). Finally, the researcher make recommends for financial managers to do not use excessive amount of debt in their capital structure and to finance their projects with retained earnings first and take long term debt as a last option, for future researcher to consider market performance measures and for universities to initiate students to do more researches on this topic. | en_US |
| dc.identifier.uri | http://etd.aau.edu.et/handle/123456789/15514 | |
| dc.language.iso | en_US | en_US |
| dc.publisher | Addis Ababa University | en_US |
| dc.subject | Capital Structure | en_US |
| dc.subject | Long Term Debt | en_US |
| dc.subject | Return on Equity | en_US |
| dc.subject | Short Term Debt | en_US |
| dc.title | Effect of Capital Structure on the Financial Performance of Ethiopian Food and Beverage Manufacturing Firms Industry | en_US |
| dc.type | Thesis | en_US |