Vaishali Ishwarbhai Ghatliya


Capital structure refers to the mix of different securities known as debt equity ratio in a corporate firm. Capital structure decisions are considered to be one of the most crucial decisions of a company as it has a direct bearing on the success or failure of the company. A number of theories have been proposed and lot of research has been done in the past few decades on the capital structure decisions and the factors which influence them. This paper attempts to examine the firm specific factors which determine the capital structure decisions of IOCL. In this study research has taken six years data 2014-15 to 2019-20. Data has been taken from the annual reports of IOCL. Share capital, paid up capital, total debt, financial leverage and operating leverage data has been analysed for this study.


IOCL, Capital Structure, Financial Leverage, Share Capital

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