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Firms' Aggressiveness and Respective Performance: An Empirical Study under Pakistani Scenery

Obaid Ur Rehman ()
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Obaid Ur Rehman: CFCBE, CECOS University, Peshawar Pakistan

International Journal of Entrepreneurial Knowledge, 2017, vol. 5, issue 1, 5-19

Abstract: The study investigates capital structure of all non-financial listed firms on Pakistan Stock Exchange (PSX) for the period of 2008 to 2014. To test the relation between firm aggressive behavior and its performance, the study uses exponential generalized least square regression by employing control variables. Levin, Hadri and ADF test are used to know the stationarity of data. Furthermore different diagnostic tests like VIF, Weisberg test for heteroskedasticity and Breusch and Pagan Lagrangian multiplier test for random effects are used to check the data normality. Results of the study reveals that financial managers’ aggressiveness regarding financial policy is negatively, while aggressiveness regarding investment policy is positively effecting the firm’s performance. The study also found that with the passage of time, firms in Pakistan have been devastating their performance. That’s why study found negative relation between firms’ age and dependent variables.

Date: 2017
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