The capital structure of multinational companies and an application in İstanbul Stock Exchange

In this study; the effects of the size of the firm, enterprise, risk,profitability, tax shield outside debt, tax ratio and firms over the capitalstructures as well as their effects on the multinational companies andnational enterprieses have been tested. The differences in the capitalstructures among the national enterprises within the multinational companieshave been put forward through the multiple-regression analysis.It has been determined that there happened to be positive correlationbetween the size of the firm variable and capital structure, negativecorrelation between the size of the firm and enterprise risk; negativecorrelation between the size of the firm and profitability variable; positivecorrelation between the size of the firm tax shield outside debt; positivecorrelation between the size of the firm and tax level and positive correlationbetween the size of the firm and growth rate variable.Due to the instability in those periods when there happens to be highrate of inflation and due to the constraints of long-term borrowing means ofthe domestic firms; the short-term debts happen to dominate in the overalldebts.