دور هيكل رأس المال في تحقيق الوفورات الضريبية والسيولة النقدية للشركات المدرجة في بورصة فلسطين
أمل نايف أسعد يعقوب
Amal Naief As'ad Yacoub
The study aimed to identify the role of the capital structure in achieving tax savings and cash liquidity for companies listed on the Palestine Stock Exchange from the year (2012-2021). This study is based on examining the relationship between the independent variable of the capital structure, and the subordinate variables of tax savings, cash liquidity ratio, and the intermediate variables of company size, invested capital, and the company's economic sector. The study followed the quantitative approach, relying on the secondary data (annual financial reports) published on the Palestine Stock Exchange website for a sample and study population consisting of (48) companies in the West Bank distributed over five sectors. The number of observations reached 465 observations. The SPSS statistical analysis program was used to analyze the data and test the hypotheses. The study relied mainly on a simple linear regression model to explain the relationship between the independent, dependent, and mediating variables. A number of results were detected. First, a statistically significant effect of the capital structure on the amount of tax savings is so clear. The study also showed that there is a statistically significant effect of the capital structure on the liquidity ratio, and the effect is positive. The study also found that there is a statistically significant effect of the capital structure on achieving tax savings for each of the (investment, industry, and services) sectors. Statistically significant effects of capital structure and tax savings are attributable to company size and company capital. The results also showed that there is a statistically significant effect of the capital structure on the cash liquidity ratio for the sector (industry, banking, and investment), and the absence of an effect between the capital structure and the realization of cash liquidity in the two sectors (insurance and services). Cash liquidity is attributable to the size and capital of the company.