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A simulation model of corporate finances: A study of the companies listed on Karachi stock exchange

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Author Info
Ayub, Mehar

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Abstract

The study is a part of the series of financial models included in a doctoral dissertation completed at the Karachi University (Mehar: 1994). An Econometric model has been constructed in the study and a Three-Stage Least Square (3SLS) technique was applied for the estimation of the model. The results reveal some interesting observations. It has been found that both the components of equity financing - Paid up capital (OSCAP) and Reserves Funds (SURPLUS) - play a central role in the determination of the liquidity position of a firm. It has also been found that Debt Financing may be a cause of the deterioration in the liquidity position of a firm.

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File URL: http://mpra.ub.uni-muenchen.de/443/
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Publisher Info
Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 443.

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Date of creation: 1998
Date of revision: 2001
Publication status: Published in Conference Proceedings, International Institute of Forecasting, Georgia Institute of Technology, Atlanta (2001) 2001.1(2001): pp. 1-55
Handle: RePEc:pra:mprapa:443

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Related research
Keywords: C15 C51 G30 G31 M41

Find related papers by JEL classification:
C53 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Forecasting and Other Model Applications
C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Capital and Ownership Structure
M41 - Business Administration and Business Economics; Marketing; Accounting - - Accounting - - - Accounting

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  9. Smith, Janet Kiholm, 1987. " Trade Credit and Informational Asymmetry," Journal of Finance, American Finance Association, vol. 42(4), pages 863-72, September. [Downloadable!] (restricted)
  10. Fama, Eugene F & MacBeth, James D, 1973. "Risk, Return, and Equilibrium: Empirical Tests," Journal of Political Economy, University of Chicago Press, vol. 81(3), pages 607-36, May-June. [Downloadable!] (restricted)
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  14. Shleifer, Andrei & Vishny, Robert W, 1986. "Large Shareholders and Corporate Control," Journal of Political Economy, University of Chicago Press, vol. 94(3), pages 461-88, June. [Downloadable!] (restricted)
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