Warianty tytułu
Języki publikacji
Abstrakty
This paper examines the capital structure determinants of Pakistan's cement sector. The sample is based on 21 cement sector companies listed on the national stock exchange of Pakistan, the Karachi Stock Exchange (KSE). Debt/equity was taken as the dependent variable while independent variables were sales growth, profitability, financial cost, company size and tangibility. The overall results showed that financial cost and tangibility have positive relationship with the dependent variable. The three other variables growth, profitability and size are negatively correlated with leverage.(original abstract)
Czasopismo
Rocznik
Tom
Numer
Strony
5--12
Opis fizyczny
Twórcy
autor
- National University of Modern Languages, Islamabad, Pakistan
Bibliografia
- Booth L., Aivazian V., Dermirguc A., Maksimovic V., 2001. Capital Structure In Developing Countries, "Journal of Finance" 5, 4, 305-325.
- Donaldson G., 1961. Corporate Debt Capacity: A Study Of Corporate Debt Policy and the Determination Of Corporate Debt Capacity, Harvard School Of Business Administration, Boston.
- Economic Survey of Pakistan, 2014, Retrieved From Http://Www.Finance.Gov.Pk/Survey_1314.Html [Accessed: 23.03.2014].
- Irvine P., Rosenfeld J., 2000. Raising Capital Using Monthly Income Preferred Stock: Market Reaction and Implication for Capital Structure Theory, "Financial Management" 22, 2, 5-20.
- Jensen M., Meckling W., 1976. Theory of the Firm: Managerial Behaviour, Agency Costs and Ownership Structure, "Journal of Financial Management" 3, 4, 40-60.
- Miller M.H., 1977. Debt And Taxes, "Journal of Finance" 32 (2), 261-275.
- Modigliani F., Miller H., 1958. The Cost of Capital, Corporation Finance and the Theory of Investment, "American Economic Review" 48, 3, 261-297.
- Modigliani F., Miller H., 1963. Corporation Income, Taxes and the Cost of Capital: A Correction," American Economic Review" 53, 3, 433-443.
- Myers S., 1984. The Capital Structure Puzzle, "Journal of Finance" 39, 572-592.
- Myers S., 2001. Capital Structure, "Journal of Economic Perspectives", 15, 2, 81-102.
- Shyam-Sundler L., Myers S., 1999. Testing Static Tradeoff Against Pecking Order Models of Capital Structure, "Journal of Financial Economics" 51, 219-244.
Typ dokumentu
Bibliografia
Identyfikatory
Identyfikator YADDA
bwmeta1.element.ekon-element-000171463943