文章基本信息

标题：Evidence of Capital Structure Discipline in Financial Markets: A Study of Leasing and Insurance Companies of Pakistan
本地全文：下载
作者：Naveed Muhammad ; Bilal AhmadRaza ; Rehman AhmadUr 等
期刊名称：Research Journal of Management Sciences
电子版ISSN：2319-1171
出版年度：2013
卷号：2
期号：1
页码：7-12
语种：English
出版社：International Science Community Association
摘要：This paper examines the explanatory power of optimal capital structure theories. The study extends empirical work on capital structure determinants of leasing and insurance companies of Pakistan over the period of ten years from 2001 to 2010. The study presents evidences on financial sector determinants with respect to capital structure. Findings of the study validated that both static trade-off theory and pecking order theory are pertinent to financial sector of Pakistan; in particular leasing and insurance sectors. Results for insurance and leasing companies in terms of profitability and liquidity have predicted pecking order theory; whereas, static trade-off model is predicted the financial behavior of firms in terms of size, tangibility and growth.