The determinants of capital structure：An empirical study of Four Asian Tigers

This paper selects 433 non-financial listed firms in Four Asian Tigers from 2014 to 2018 and analyzes the impact of different determinants on capital structure. In general, the capital structure of these economies is affected by the same variables as in other emerging economies. However, there still exist some individual differences across economies. The results suggest that although some of the opinions from capital structure theories have been confirmed in many empirical results, there is still much work to be done to make a more comprehensive and in-depth analysis of the determinants of capital structure