| Summary: | 碩士 === 國立高雄第一科技大學 === 財務管理研究所 === 99 === In the past, many literatures explore the capital structure decisions. This study would like to explore that systematic risk affects the choice of capital structure. Previous literatures ignores systemic risk to the company''s capital structure. The samples of this study include components stocks of 0050ETF (exclude Financial Corporations). Use the multiple regression analysis. Independent variables of this study includes systematic risk, profitability, growth, size and tangibility. The dependent variable is total debt ratio. The empirical results show systematic risk, profitability and tangibility have negative correlation with capital structure, and growth have positive correlation with capital structure while size have no significant correlation with capital structure.
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