Manufacturing companies evolve with the technological advancement initiated through the financial performance of the company. Analysing the financial measures of the company is represented through the capital structure and financial performances leading the company toward certain advancements (Kumar et al., 2021).
In the contemporary business world, innovation in terms of financial management is one of the core strategies for achieving financial sustainability and growth for any organisation. Capital structure is the method through which a company determines the right balance of stock and debt financing to maximise profits while minimising exposure to risk (Musallam et al., 2020; Khaw, 2019).
The goal of the management of every organization is to maximize the wealth of its shareholders. The management takes two main steps for this purpose; it either reinvests what it has already earned in the business or pays divide.
