EFFECT OF CAPITAL STRUCTURE ON FIRM PERFORMANCE: A SYSTEMATIC REVIEW
Abstract
This study provides a systematic review of the literature on the effect of capital structure on firm
performance. A total of 100 articles are identified, reviewed and analyzed, including both
empirical and theoretical studies. The findings suggest that there is no clear consensus in the
literature on the effect of capital structure on firm performance. Some study finds a positive
relationship, while others reported negative or no relationship. Future studies on the subject
matter should explore the moderating or mediating effect on the nexus between capital structure
and firm performance.
Keywords
Literature Review
Systematic Review
Capital Structure
Financial Performance.
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How to Cite
Musa, H. M., & Muhammed, T. D. (2023). EFFECT OF CAPITAL STRUCTURE ON FIRM PERFORMANCE: A SYSTEMATIC REVIEW. Bayero Journal of Management Sciences, 5(2), 140-158. https://doi.org/10.67894/bjms.2023.sg5bk5dr
H. M. Musa, and T. D. Muhammed, "EFFECT OF CAPITAL STRUCTURE ON FIRM PERFORMANCE: A SYSTEMATIC REVIEW," Bayero Journal of Management Sciences, vol. 5, no. 2, pp. 140-158, December 2023. doi: 10.67894/bjms.2023.sg5bk5dr