الفهرس 
Chapter 1: Introduction and BackgroundOnly 14 pages are availabe for public view
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Abstract
The present study aims at testing the trade-off theory, pecking order theory, free cash flow theory and market timing theory and how they explain the capital structure decisions of firms listed in the Egyptian stock exchange. The study follows two approaches to examine each theory, independently in separate models and to examine the four theories, collectively in one model. Both approaches are conducted using Panel Data Analysis for a sample of 43 firms listed on the Egyptian stock exchange, in different industrial sectors, over the period 2008-2015. The results indicated the modified pecking order theory is the best theory to explain the capital structure decisions in Egypt, while the market timing has short term effect on capital structure. The results show no support to trade-off theory, simple pecking order theory and free cash flow theory. The study also, showed that the most important determinants of capital structure in Egypt are: profitability, firm size, growth and financial deficit. The study also, confirms the argument of the capital structure theories are not mutually exclusive and they complete each other in explaining the capital structure decisions. Finally, the study is trying to solve the issue of ”Capital Structure Puzzle” suggested by Myers (1984) and trying to provide answers to the question of ”How do firms choose their capital structure?” in the Egyptian context.