The Managerial Factors and the Capital Structure Decisions of Egyptian SMEs

Abstract

The Purpose of this paper is to explore the importance of the managerial factors in explaining the capital structure decisions of small and medium enterprises in developing countries like Egypt. Although the traditional theories of capital structure are useful in explaining the capital structure decisions of the companies, but it is showed that they mainly explained these decisions of large enterprises in developed economies so this paper tried to give a conceptual model that may help to explain these decisions in SMEs in emerging economies.