Determinants of capital structure: evidence from international joint ventures in Ghana

Agyenim Boateng

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    Capital structure has attracted intense debate and scholarly attention in the financial management arena over the past four decades. However, in the context of sub-Saharan Africa capital structure has received a scant attention. This paper attempts to rectify this position by considering the firm specific factors influencing the capital structure of international joint venture formation based on a sample of 41 firms in Ghana with partners from Western Europe, North America and Asia. The results indicate that size of joint venture, type of joint venture industry and ownership level of joint venture partner have a positive bearing on the capital structure of joint ventures in Ghana.
    Original languageEnglish
    Pages (from-to)56-66
    Number of pages11
    JournalInternational Journal of Social Economics
    Issue number1/2
    Publication statusPublished - Jan 2004



    • Ghana
    • calital structure
    • joint ventures

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