Table 1.

The Methodologies and data source of previous studies (2010–2020).

Literature Types	Results	Data	Methods	Previous Studies
Capital Structure Theories	Firm size, profitability, tangibility, and Fund flow are significant. Razak and Rosli (2014) found that NDTS, firm size and growth influenced the capital structure.	Secondary	GMM, Linear Regression Analysis	Nguyen et al. (2019), Razak and Rosli (2014), Cheng et al. (2010)
	M&M equilibrium is not unique, but this theory should be a key issue for leverage decision for financial officers, and creditors. Myers (2001) says that capital structural theories are not universal and focused on the mix of debt-equity depending on tax shield.	Secondary Research	Conceptual Analysis	Kopecky et al. (2018); Sibindi (2016); Arvanitis (2012).
	Literatures on capital structure theories for the last 21 years were studied. Most studies are focused on developed counties, but there was no primary research in the whole study.	Secondary Research	Conceptual Analysis	Bajaj et al. (2020)
	Market-book value ratio negatively influences the capital structure.	Secondary Research	OLS regression	Baker and Wurgler (2002); Setyawan (2011).
Determinants	Profitability, collateral, liquidity, market to book value, tangibility, size. Financial risk, growth, operating risks and corporate tax. Agency cost, non-debt tax shield, growth opportunity, nature of assets,	Secondary Research	OLS regression, FGLS, Fixed effects,	Alom (2013).; Arvanitis et al. (2012); Jahan (2014); Siddiqui (2012). Hoque et al. (2014); Sayeed (2011).
Corporate Governance	Board size, board composition, CEO duality, audit committee, ownership concentration, institutional ownership, Board gender, outside director, Board Committee. The board size and board independence are more positive, and the impact of CEO-duality is negatively significant for the financing decisions of the firms	Secondary Research	Multiple regression, Fixed effects,OLS, GMM.	Bansal and Sharma (2016); Setayesh et al. (2012); (Achchuthan et al. (2013); Uddin et al. (2019); Zaid et al. (2020); Aldatmaz and Brown (2020); Meuleman et al. (2014).
Behavior, and Social science Research.	In the corporate, social behavior, or qualitative issues, PLS-SEM is considered to be a more appropriate tool for advanced research, and it has gained popularity in behavior and social science research comprising factor analysis	Primary Research	Outer loading factors, Cranach's alpha, PLS-SEM.	(Hair et al., 2014; Richter et al., 2015; Ali et al. 2019a, 2019b; Cheah et al., 2019; Hair et al. 2014, 2014; Chin and Newsted, 1999).