Influence of Firm financial characteristics on Leverage of Non-Financial Listed Companies in Nairobi Securities Exchanges

Abstract

Listed and non-listed institutions are always in need of finances geared towards enhancing their firm performance which has a pivotal role in the relationship they will enjoy internally and externally. The ability of an organization to invest borrowed capital on projects with a higher return on investment has a significant impact on shareholders wealth maximization. Panel regression modelling revealed the positive influence of firm size and profitability and inverse influence of tangibility and growth opportunities on the leverage of listed non-financial companies in Nairobi securities exchanges.