EQUITY FINANCING AND FINANCIAL PERFORMANCE OF …

levered than larger firms. In addition, as the time period between restructurings is longer for small firms, on average, they have lower leverage ratios (Chepkemoi, 2013). Capital structure represents the proportionate relationship between the different forms of long term financing (Varaiya, Kerin & Weeks, 2007).

  Equity, Financing, Levered, Equity financing