Factors Affecting Capital Structure in Logistics Management: Evidence from Borsa Istanbul

Abstract

Today, the transformation pace of commercial activities makes capital investments in logistics management even more significant. The method of financing and the cost of capital of these investments have an impact on the firm value. Thus, capital structure decisions are of great importance for firm value. The current study used the panel data method to evaluate the annual financial data of 7 logistics companies listed on the Borsa Istanbul for the period 2005-2021 to determine the factors affecting the capital structure of the logistics companies. The findings reveal that financial leverage, or capital structure, is directly related to firm size, tangible assets, profitability, dividend payment, and market-to-book ratio.