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Financial Development And Firms’ Growth In Textile Industry Of Pakistan: A Panel Data Analysis, Ijaz Hussain
Financial Development And Firms’ Growth In Textile Industry Of Pakistan: A Panel Data Analysis, Ijaz Hussain
Business Review
This discussion uses secondary data from “Balance Sheet Analysis (2000- 2009) of Joint Stock Companies Listed on the Karachi Stock Exchange published by Statistics Department of State Bank Of Pakistan” and covers a panel of 75 textile firms of textile industry in Pakistan . Findings of this study indicate that all explanatory variables included in our model have significant influence on firms’ growth. Lagged profitability and efficiency and financial development have statistically significant and positive impact on firms’ growth while financial leverage, size, risk, real cost of debt, energy crisis and abolishment of textile quota have negative impact. Acute energy …