Date of Award

Fall 2025

Access Type

Dissertation - ERAU Login Required

Degree Name

Doctor of Philosophy in Aviation Business Administration

Department

Aviation Business Administration

Committee Chair

Norbert J. Zarb

Committee Chair Email

zarbb@erau.edu

First Committee Member

Hari Adhikari

First Committee Member Email

adhikarh@erau.edu

Second Committee Member

Jayendra Gokhale

Second Committee Member Email

gokhalej@erau.edu

Third Committee Member

Dothang Truong

Third Committee Member Email

TRUONGD@erau.edu

College Dean

Norbert J. Zarb

Abstract

In December 1903, Wilbur and Orville Wright made the historic innovation of the first sustained flight by a powered aircraft. By 1909, the brothers produced the first Wright Military Flyer. These two historical events provided the foundation for what is now known as the aerospace and defense industry. The industry grew exponentially as societies, conflicts, wars, and technology progressed. In contemporary America, the industry is more vital than ever. The aerospace and defense industry in the United States is characterized by significant entry barriers, complicated government contracting processes, and a vast large number of backlogs. Identifying strategies to increase financial value is essential for firms to remain sustainable. This study investigated the impact of capital structure on a firm’s financial performance for aerospace and defense companies in the United States.

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