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Full-Text Articles in Social and Behavioral Sciences
Equity Liquidity, Firm Investment And Financial Performance: An Assessment Of The Role Of Financial Development, Maria Karim, Abdul Rashid
Equity Liquidity, Firm Investment And Financial Performance: An Assessment Of The Role Of Financial Development, Maria Karim, Abdul Rashid
Business Review
This paper examines the impact of equity liquidity (EQLQ) on firm performance (FPER) and firm investment (FINV) decisions. It also examines whether financial sector development (FSD) decreases the importance of EQLQ for firms' financial performance and investment policy. An unbalanced panel dataset for 360 non-financial Pakistani firms covering the period 2001-2018 is used. The results suggest that increased EQLQ has significant positive impact on firms' investment decisions and financial performance. However, we find that enhanced FSD significantly reduces the investment-favoring and performance enhancing role of EQLQ. The findings on the effects of EQLQ on both FINV and FPER are consistent …
The Nexus Of Financial Deepening, Economic Growth, And Poverty: The Case Of Pakistan, Abdur Rehman Aleemi, Muhammad Azam
The Nexus Of Financial Deepening, Economic Growth, And Poverty: The Case Of Pakistan, Abdur Rehman Aleemi, Muhammad Azam
Business Review
This study investigates the nexus of financial development, economic growth, and poverty for Pakistan over a prolonged period of time, 1960- 2012. Autoregressive Distributed Lag (ARDL)-Bounds testing approach to co integration and Unrestricted Error Correction Model (UECM)along with VECM Granger causality have been applied to examine the long-run dynamic relationship among financial development, economic development and poverty. For that purpose, we have developed two models and adopted a new and relatively strong proxy for financial development. The results suggest that financial development negatively affects both long-run and short-run economic growth. However, financial development is found to be positively affecting per …
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 …