Macroeconomic and institutional determinants of firms% choices of capital structure in Nigeria: a system-GMM approach

The study investigates whether external environment in which firms operate plays any role in the choice of corporate capital structure decision in Nigeria. A panel data of 66 listed companies, comprising firms' leverage, macroeconomic variables and institutional quality, are used. Data are collected from World Development Indicator, OPEC annual oil price statistics, annual reports and accounts of selected listed companies, fact books published...