Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/334408 
Year of Publication: 
2025
Citation: 
[Journal:] Journal of Economics, Finance and Administrative Science [ISSN:] 2218-0648 [Volume:] 30 [Issue:] 60 [Year:] 2025 [Pages:] 318-336
Publisher: 
Emerald Publishing Limited, Leeds
Abstract: 
Purpose - This research explores the influence of intellectual capital (IC) efficiency (ICE) and institutional quality (IQ) on a firm's capital structure (CS) in Indian firms. Design/methodology/approach - The analysis was conducted on a sample of Indian companies from 2015 to 2019. Data were collected from the S&P database, and regression and additional analyses were performed to achieve the objectives of this research. Findings - The findings show a significant positive effect of ICE on a firm's CS from debt (CSD) and an insignificant positive effect of IQ on CSD and CS from equity (CSE). The findings also indicate that humancapital efficiency (HCE) and capital-employed efficiency (CEE) are the main IC sub-dimensions influencing a firm's CS, compared to the structural-capital efficiency (SCE) dimension. Practical implications - The results of this study have several practical implications, as they examine the influence of ICE and IQ on CS as potential determinants, which could help business leaders adopt optimal CS strategies. Originality/value - The results of thisstudy offerseveral novel contributionsto the existing literature on CS by examining unexplored factors, such as ICE as a knowledge management strategy, ICE sub-dimensions, and IQ in the context of CS.
Subjects: 
Intellectual capital
Institutional quality
Governance
Capital structure
Capital management
Finance
JEL: 
D24
G3
G32
G34
J24
L22
L25
O34
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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