The study looked at what factors influence companies in deciding to use debt capital. They focused on things like how fast the company is growing, how much of their assets are tangible, the cost of their debt, how profitable they are, and how risky their business is. They found that profitability is the main factor that affects a company's decision to use debt capital. Other factors like growth, asset tangibility, cost of debt, and business risk didn't have a significant impact. This research helps us understand how companies can use their profits to reduce the need for debt and lower their business risks.