The Examination of Capital Structure Decisions By Micro Panel Data Method in Borsa Istanbul Retailing Trade Sector

The capital structure forms by sum of long-term debt and equity capital. In other words, the capital structure refers to the amount of capital that is mandatory. Therefore, capital structure decisions must evaluate as strategic financial decisions along business management. Because capital structure decisions related with long-term decisions that propose some solutions to them. On the other hand, retailing trade sector is dynamic, focused on consumer sensitive, and short-term decisions are taken in this sector. In this study we investigated interaction between dynamic retailing trade sector and capital structure decisions that are based on strategic decisions. The aim of this study is orient the potential investors and executives of retail companies. In this context, we developed two different models and analyzed the effects of short and long term debts on total assets by micro panel data method. The results are showed that the effects of short-term debts on total assets can explain by total debt / equity, equity / total assets and growth factors, however the effects of long-term debts on total assets can explain by total debt / equity, the age of enterprise and equity / total assets.