The Determinants of Capital Structure of Stock Exchange-Listed Non-Financial Firms in Pakistan
By Attaullah Shah, T. Hijazi. 2004
139 citations recorded by the source corpus.
In this paper, we study the potential determinates of the capital structure of non-financial firms listed on Karachi Stock Exchange. We analyse a sample of 445 firms listed on the KSE for the period 1997–2001. We have chosen tangibility of assets, size, firm growth rate, and profitability as independent variables, and measure their effect on debt/total asset ratio (proxy for leverage). Using the technique of panel data analysis, we observe that of the four independent variables, growth, size, and profitability have significant effect on leverage. However, we do not find tangibility as significantly correlated with leverage.
Subfields: Accounting, Strategy and Management
View Paper: https://www.semanticscholar.org/paper/b87253ad7e881db522753f4c452291d9aea43247
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In Accounting
In Strategy and Management
Citations in the corpus
- Determinants of Capital Structure: Evidence from Pakistani Panel Data (2007, methodology): “Second study by Shah and Hijazi (2004) was an improvement on the first one as it included all non-financial firms listed on KSE for the period 1997-2001.”