ОСОБЕННОСТИ СТРУКТУРЫ КАПИТАЛА РОССИЙСКИХ ПРЕДПРИЯТИЙ МЕТАЛЛУРГИЧЕСКОЙ ОТРАСЛИ

Гл. 2. С. 37–76.

Markovskaya E., Симонов А. П.

Theories of capital structure, developed in the 20th century, examine the factors on the basis of which enterprises make decisions to optimize their capital structure to increase their value. The most common theories are trade-off theory, hierarchy theory, and agency cost theory, as well as empirical studies based on such theories, focusing on various factors that could influence the capital structure of enterprises. It is relevant to study how this or that theory explains the importance of factors affecting the capital structure in various sectors of the Russian economy.

The purpose of this study is to identify patterns that affect the capital structure of the metallurgical industry in the Russian Federation.

The following results were obtained

• the regularities in the system of managerial decisions on the structure of capital cannot be explained within the framework of any one theory;

• insignificance of some factors indicates that there are cases when none of the considered theories of capital structure describes reality

• some hypotheses about the influence of various factors were confirmed, some of them were refuted

• the individual characteristics of the company play a significant role in justifying decisions on the capital structure

Keywords: оптимальная структура капитала, структура капитала металлургических компаний

In book

Инновации в науке, обществе, образовании: факторы и механизмы устойчивого развития: монография

Пенза: МЦНС "Наука и просвещение", 2021.