Journal of Economics and Finance

, Volume 26, Issue 2, pp 200–215

Determinants of corporate borrowing: Some evidence from the Indian corporate structure


  • Saumitra N. Bhaduri
    • Madras School of EconomicsGandhi Mandapam Road

DOI: 10.1007/BF02755986

Cite this article as:
Bhaduri, S.N. J Econ Finan (2002) 26: 200. doi:10.1007/BF02755986


In contrast to previous empirical work on capital structure, which is mainly confined to the United States and a few other advanced countries, this paper attempts to study the capital structure choice of developing countries through a case study of the Indian corporate sector. The paper shows that the optimal capital structure choice is influenced by factors such as growth, cash flow, size, and product and industry characteristics.

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© Springer 2002