The study looked at how different aspects of companies in Tanzania affect their decisions on how to finance themselves. They used data from the stock market and financial reports of companies. The results showed that factors like profitability, size, liquidity, and industry type influence how much debt companies take on. Profitable companies tend to have less debt, while smaller companies tend to have more. The type of industry a company is in also plays a role. Other factors like assets, growth, and the country's economic conditions didn't seem to have much impact on how companies choose to finance themselves. In Tanzania, many companies rely on short-term bank loans, regardless of economic conditions.