The paper is set on the theoretical backdrop of the importance and exigency of capital structure in firms’ pursuits to maximize shareholders’ wealth. The study investigates the different capital structure strategies adopted by Botswana firms. In its methodology, the study adopted an approach used by Graham and Harvey [1] in developing the research instrument. The study methodology used is premised on the presupposition that issues of capital structure are more pronounced with the increase in firm size, with the largest firms generally being those listed on the stock exchange. Primary data was collected from a small sample of firms listed on the Botswana Stock Exchange (BSE), in keeping with the exploratory nature of the study

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