Capital structure determinants across sectors: Comparison of observed evidences from the use of time series and panel data estimators

This comparative study is an attempt to explore the determinants of capital structure for Malaysian firms listed in various sectors level. Within framework traditional and moderate dynamic theories, key such as fixed assets, current return on equity, size, earning per share total assets are tested relation debt-equity ratio. The large-scale entails data collected from 551 Bursa Malaysia main market over 12 years period i.e. 2005-2016. Notably, this combines Time Series econometrics with Panel Data analysis enhance methodological robustness. Moreover, approach designated recognize most persistent determinants. In first place, Multiple Regression (MRA) selected a baseline estimation method. Subsequently, Auto Distributed Lag model (ARDL), Static models, Dynamic via Generalized Method Moments (GMM) employed identify at Malaysia. outcomes surprising indicate that entire primarily controlled by studied determinant which significant both construction property through MRA, ARDL, GMM analysis. Technically, role tangibility existence speed adjustment across imply Capital Structure prominent among all, followed Trade-off theory.