This study aimed to investigate the impact of financing structure on financial vulnerability in industrial companies listed on the Amman Stock Exchange during the period 2005–2019.This study adopted a quantitative approach, the study comprised two variables: the independent variable, financing structure (measured based on long-term loans, short-term loans, and equity), and the dependent variable, financial vulnerability (measured using the Z-index). A range of statistical analyses were applied to the data to achieve the study's objectives, including linear regression, correlation, t-tests, and analysis of variance (ANOVA). SPSS and Smart PLS software were used for data analysis. Secondary data were obtained from the annual reports of companies listed on the Amman Stock Exchange and their official websites. The study concluded that all dimensions of the dependent variable affect financial vulnerability, but the overall organizational structure, financial leverage, and short-term debt had a positive impact, while long-term loans and equity financing had a negative impact. The scientific contribution lies in attempting to arrive at accurate estimates of companies' path towards an optimal financing structure, and reducing financial fragility in a way that supports financial decision-making processes.
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