Influence of Firm Financial Characteristics on Leverage in Automobile and Accessories Companies Listed in Nairobi Securities Exchange

Capital market is supposed to be the source of finances but in Africa, liquidity problems have inhibited this role. Statistically, most securities exchanges in Africa are low with the highest liquidity recorded in Africa being from Egypt at 37.9% and the third highest Khartoum Stock Exchange at 32.5%. Hence, the current evaluated the influence of firm financial characteristics on the leverage of the listed automobile and accessories firm in Nairobi securities exchange. Study findings revealed the positive moderating effect of operating cash flows on the influence of firm financial characteristics on the leverage of listed automobile and accessories companies in Nairobi securities exchang