Do Determinants Influence the Capital Structure Decision in Bangladesh? A Panel Data Analysis

More than two decades, capital structure decision marked as variation from optimal decisions determinants are not properly considered due to the collapse of corporate governance. This study examines impact on in Bangladesh using Fixed-Effect Model (FEM) and Panel Corrected Standard Error (PCSE). The revealed that debt is considerably influenced by liquidity, firm size, asset structure, non-debt tax shield, operational age companies. also indicates companies, which financially, sound, but used more because owners such companies politically empowered stock market. firms hold less fixed assets (as a percentage total assets, particularly family-run affiliated regardless their bracket, profitability growth—showed greater capacity for increased debt. primarily focused financial framework make based related determinants.