Abstract:
Capital structure decision poses a lot of challenges to firms. Determining an appropriate mix
of equity and debt is one of the most strategic decisions non-financial companies are
confronted with. A wrong financing decision has the tendency of stalling the fortunes of any
business. Therefore, if managers are to achieve the goal of wealth maximization, conscious
steps must be taken in the right direction and at the right time to identify those factors that
must be taken into knowledge in determining appropriate financing mix. It is upon this
premise that this conceptual piece is designed to guide the top levels of corporate managers in
capital structure decisions. The paper explores a body of literature in saying determinants of
capital structure decision of non-financial listed companies.
