The relationship between the capital structure and stock returns of companies listed on the Yangon Stock Exchange (YSX)
คำสำคัญ:
capital structure, stock returns, YSX, leverageบทคัดย่อ
This research aims to determine the relationship between capital structure and stock returns among companies listed on the Yangon Stock Exchange (YSX). The study employs data from 8 listed companies covering the period 2016 to 2024, totaling 54 firm-year observations. Data analysis was carried out using descriptive statistics and multiple regression models. The empirical results show that debt ratio is significantly associated with stock returns. Meanwhile, the debt-to-equity and long-term debt ratios are not significantly associated with stock returns. These findings suggest that the total levels of debt are a crucial factor to consider when comparing the YSX to other markets. The composition of debt and equity, along with the maturity of long-term debt, are key determinants of stock returns in the YSX.
เอกสารอ้างอิง
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