Author(s): Mahabub Basha Shaik, Manyam Kethan, Ibha Rani, Uma Mahesh, Chirukuri Sri Harsha, M K Navya, Degala Sravani
The present study has investigated the capital structure determinants of selected Nonfinancial organizations related to fiscal variables of NSE, the listed firms in India from 2010 to 2019 which comprises for about 10 years with a sample of 27 firms' observations. The relevant data has a dynamic panel that has analyzed for panel regression model. The result reveals that a firm’s size and growth are the most vital determinant of capital structure the capital structure is negatively impacted by profitability, whereas the growth is positively influenced by the decisions of capital structure. Tangibility, Liquidity, Business risk, and Non-debt tax shield are not significantly determining the capital structure decision of Indian firms. This study has supported the market timing theory and pecking order theory assumptions. Hence the Financial managers should concentrate on the long-term sources.