Firm and Macroeconomic Determinants of Debt: Pakistan Evidence

被引：5

作者：

Memon, Pervaiz Ahmed ^{[1
]}

Rus, Rohani Bt Md ^{[1
]}

Ghazali, Zahiruddin B. ^{[1
]}

机构：

[1] Univ Utara, Sch Econ Finance & Banking, Sintok 06010, Kedah Darul Ama, Malaysia

来源：

Contemporary Issues in Management and Social Science Research | 2015年 / 172卷

关键词：

Capital structure; fixed effect regression; macroeconomic factors; panel data; Pooled OLS; CAPITAL STRUCTURE EVIDENCE; INTERNATIONAL DATA; INVESTMENT; DECISIONS; CORPORATE; COUNTRY;

D O I：

10.1016/j.sbspro.2015.01.355

中图分类号：

C [社会科学总论];

学科分类号：

03 ; 0303 ;

摘要：

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. (C) 2015 The Authors. Published by Elsevier Ltd.

引用

页码：200 / 207

页数：8

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