Economics at your fingertips  

Determinants of Capital Structure: A Case for the Pakistani Cement Industry

Syed Tahir Hijazi () and Yasir Tariq ()
Additional contact information
Syed Tahir Hijazi: Dean, Muhammad Ali Jinnah University, Islamabad, Pakistan.

Lahore Journal of Economics, 2006, vol. 11, issue 1, 63-80

Abstract: This paper attempts to determine the capital structure of listed firms in the cement industry of Pakistan. The study finds that a specific industry’s capital structure exhibits unique attributes which are usually not apparent in the combined analysis of many sectors as done by Shah & Hijazi (2005). The study took 16 of 22 firms in the cement sector, listed at the Karachi Stock Exchange for the period 1997-2001 and analyzed the data by using pooled regression in a panel data analysis. Following the model developed by Rajan & Zingle (1995) it has chosen four independent variables i.e. firm size (measured by natural log of sales),tangibility of assets, profitability and growth and further analyzed the effects on leverage. The results, except for firm size, were found to be highly significant.

Date: 2006
References: View references in EconPapers View complete reference list from CitEc
Citations View citations in EconPapers (9) Track citations by RSS feed

Downloads: (external link) (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

Access Statistics for this article

More articles in Lahore Journal of Economics from Department of Economics, The Lahore School of Economics Contact information at EDIRC.
Series data maintained by Shahid Salahuddin ().

Page updated 2017-11-05
Handle: RePEc:lje:journl:v:11:y:2006:i:1:p:63-80