Determinants of capital structure choices MIMIC model and PLS approach

In this thesis, the determinants of capital structure choices were investigated and effects of these determinants on capital structure were figured through MIMIC and PLS methods. The data was collected from 167 companies, which were trading in BIST and ISE between 2008 and 2017. Using this data, 11 variables, which were thought to have an effect on capital structure, were calculated. 9 models have been established in accordance with groupings by size and by sector. The first group of the 9 models involves the main model in which all companies take part. The next 4 models are grouped according to the sectors in which the companies operate, and the last 4 models are grouped according to the size of the companies. In order to achieve a more homogeneous approach to capital structure analysis, a repeated analysis was applied by modeling the companies separately. Such basic points as which of the variables are more effective on the capital structure and with which financial theories they are in conformity are determined in accordance with the results of these analyses.