Investigating Capital Structure, Performance and Stock Price in U.S. Technology Firms: Panel Data Analysis

May Elewa


The study investigates the relationship among liquidity substituted by current ratio CR., capital structure proxied via debt to equity D/E ratio, the financial performance represented by return on equity ROE plus return on assets ROA, and stock price SP. Technology firms listed on the NASDAQ 30 index in America, which use generally accepted accounting principles (GAAP), are considered. Data is from the Standard and Poor S&P 500 database. The data set contains 672 observations with n=12. Data collected is of technology firms which operate in cash, have quarterly reports from 2005-2018, have no missing data, and are not disqualified during the study period. The study applies the pooled regression, the fixed effect, and the random effect techniques and the panel data analysis. The findings indicate a relationship between capital structure, financial performance, and stock price. This paper benefits internal and external stakeholders and may enhance business operations leading to higher financial performance.

Full Text:




  • There are currently no refbacks.

Copyright (c) 2021 May Elewa

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.

International Journal of Accounting and Financial Reporting  ISSN 2162-3082

Copyright © Macrothink Institute 

'Macrothink Institute' is a trademark of Macrothink Institute, Inc.

To make sure that you can receive messages from us, please add the '' domain to your e-mail 'safe list'. If you do not receive e-mail in your 'inbox', check your 'bulk mail' or 'junk mail' folders.