دور تنافسية المنتجات و الموجودات غير الملموسة في هيكل رأس المال للشركات المساهمة العامة الأردنية

الملخص EN

The study aimed to identify the effect of product market competition and intangible assets on the capital structure of Jordanian public shareholding firms, as well as identify the difference in the effect of the product market competition and intangible assets on the capital structure in terms of firm size and profitability.

The study population consisted of all Jordanian public shareholding companies.

The sample contained corporate financial information on an annual basis during the period (2003-2014) in the Amman Stock Exchange.

Least Squares Dummy Variable Regression Model was used.

The results show a negative effect of product market competition on the capital structure.

In addition, they reveal that the intangible assets do not affect the capital structure and there are no differences in the effect of product market competition and intangible assets on the profitability-related capital structure.

Besides, there are no differences in this effect for small size firms.

By contrast, the results show a significant difference in the effect of product market competition on the profitability-related capital structure for large size firms.

Finally the results do not show any difference in the effect of the intangible assets on the profitability-related capital structure for large size firms.