4 edition of An empirical investigation of the debt policies of Pakistani companies found in the catalog.
Includes bibliographical references (p. 113-116).September, 1992.PARD/Res./119--Cover.
|Statement||Pakistan Academy for Rural Development|
|Publishers||Pakistan Academy for Rural Development|
|The Physical Object|
|Pagination||xvi, 74 p. :|
|Number of Pages||67|
nodata File Size: 4MB.
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Dividends show the expropriation of wealth from debtholders. He selected the ownership concentration, board size and composition, managerial shareholdings, institutional shareholdings, and family shareholdings as the selected devices to test their effectiveness in case of turkey.
Data: Measure of debt GITD looks at levels of gross debt over time and across countries.1994, Understanding the Small Firm Sector, Routledge, London.  conducted study on Korean companies and found that blockholders have incentives to actively monitor management. By this, shareholders capture most of the gains i.
As firm risk increases, the option becomes more valuable causing the value of the debt claim to decline. Hence this study answers the question that whether debtholders' interest is protected in the firms owned by family or not in Pakistan. A famous notion is prevailing in literature that privately owned family firms have lower agency cost.
" ," 90280, University Library of Munich, Germany, revised 26 May 2018. Agency cost of debt is measured by two proxies: proportion of firm assets not tied in fix plant and equipment and Liquidity of firm assets.
When firm is profitable, it attains huge amount of cash. By contrast, we can reject the hypothesis that GDP growth does not Granger-cause a rise in the debt. 28 1-2pages 175-198. Data: The United States debt above and below the threshold The GITD study is part of a larger research effort that collects data on dozens of countries across hundreds of years to document the rise and fall of debt.
Most studies have analyzed family ownership in relation to firm performance. Founding family controlled firms: efficiency and value. 51 Cpages 198-219.
The panel data regression model was used to test if there was a significant relationship between the debt ratios and the performance indicators.
He used credit ratings and initial bond yield spread as proxies of agency cost of debt.
Debtholders, looking forward to such incentives of equity holders, demand higher rents of financing, which results in a higher cost of debt capital.