This paper investigated the effect of Market Timing Theory on capital structure. We examined capital structure to past market valuations. The firms with low leverage tend to financed when their valuations were high. as measured by the market-to-book ratio (MTB). https://safeersappliancers.shop/product-category/bosch-serie-4-gid18a20gb-in-column-built-in-integrated-freezer-a-94-litres-uk/