Business, Management and Accounting
7 years ago

Russian firms' debt levels influenced by industry, size, and growth opportunities.

SSRN Electronic Journal
The Determinants of Capital Structure: Evidence from Russia
Evgeny Ilyukhin

Paper Summary

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The article looks at what factors affect how much debt Russian companies use. They studied 48 big companies from 2009 to 2015. They found that industry type, company size, and growth opportunities are the most important factors. Profitability, tax shields, and stock market conditions matter less. Things like business risk, asset uniqueness, and inflation rates don't really affect how much debt companies use. Oil & Gas and Metal companies tend to have less debt than other types of companies.