Firm and macroeconomic determinants of debt: Pakistan evidence

This study investigates the role of firm specific factors, macroeconomic factors, and firms’ heterogeneity in determining the debt levels of non-financial listed firms of Pakistan. Study implies static panel data modeling using pooled OLS and fixed effect regression as estimation techniques, with tw...

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書目詳細資料
Main Authors: Memon, Pervaiz Ahmed, Md Rus, Rohani, Ghazali, Zahiruddin
格式: Article
語言:English
出版: Elsevier Ltd. 2015
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在線閱讀:http://repo.uum.edu.my/25790/1/PSBS%20172%202015%20200%20207.pdf
http://repo.uum.edu.my/25790/
http://doi.org/10.1016/j.sbspro.2015.01.355
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機構: Universiti Utara Malaysia
語言: English
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總結:This study investigates the role of firm specific factors, macroeconomic factors, and firms’ heterogeneity in determining the debt levels of non-financial listed firms of Pakistan. Study implies static panel data modeling using pooled OLS and fixed effect regression as estimation techniques, with two different proxies of debt. Profitability, tangibility, and size of the firm appear to affect debt level significantly across different proxies and different estimation techniques. Interest rate and inflation are significant determinants of debt in fixed effect estimation. Study also confirms the existence of firm specific influence on debt.