Factors That Affect the Capital Structure: An Application on Bist Industrial Sector with Panel Data Analysis

The aim of this study is to identify in what degree and how leverage ratios of industrial sectors of business that are operating in turkey and traded in istanbul stock exchange (bist), in their decisions regarding capital structure, are affected by company specific factors. 110 industrial sectors that operate between the years 2003 to 2013 were used in the study of business data. for this purpose, while total liabilities of the leverage ratio as the dependent variable / equity, total debt / total assets and long-term liabilities / equity ratio are used, as independent variables, the growth, profitability, non-debt tax shield, cash flow ratio, fixed assets / total assets, current ratio, financial risk, net working capital and the tax rate is used. as a result of the study, in panel data analysis, the three models in which bdvk and cr variables have been used. it has been found significant results.