文章基本信息

标题：Determinants and Policies of CAPITAL STRUCTURE IN THE NON-FINANCIAL FIRMS (Personal Care Goods) OF PAKISTAN
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作者：Ume Salma Akbar ; Niaz Ahmed Bhutto
期刊名称：Asian Journal of Business and Management Sciences
电子版ISSN：2047-2528
出版年度：2012
卷号：2
期号：02
页码：27-35
出版社：Society for Business Research Promotion
摘要：This paper is an attempt to determine the capital structure of listed firms in the Food & Personal Care Industry of Pakistan. The study covers the sample of 16 firms in the sector, listed at the Karachi Stock Exchange, for the period 2001-2008 and analyzed the data by using pooled regression adjusted with cross sectional variation .Six variables i.e. firm size tangibility of assets, profitability ,growth, tax rate and earning volatility were tested as determinants of the leverage. The regression model is found to be significant and these six variables determine 89% of leverage .Only two variables-growth and size of firms were found significant and have positive relationship with leverage. So, capital structure of firms in F&PC industry mainly depends upon their sizes and growth opportunities. The paper is divided into five parts- Introduction and Literature Review, Objectives of Study, Data & Methodology, Results and Discussion, and Conclusion. Full Text