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Determinants of capital structure of leasing companies in Pakistan

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  • Syed Zulfiqar Ali Shah
  • Jam-e-Kausar

Abstract

This study investigates the determinants of capital structure of leasing firms in Pakistan for the period 2003 to 2008. Size, profitability, growth, net investment in lease finance, liquidity and tax paid are used as determinants of capital structure. Using a balanced panel sample, we find that size has a positive relationship, whereas profitability, liquidity and tax have a negative relationship with leverage of the sample firms.

Suggested Citation

  • Syed Zulfiqar Ali Shah & Jam-e-Kausar, 2012. "Determinants of capital structure of leasing companies in Pakistan," Applied Financial Economics, Taylor & Francis Journals, vol. 22(22), pages 1841-1853, November.
  • Handle: RePEc:taf:apfiec:v:22:y:2012:i:22:p:1841-1853
    DOI: 10.1080/09603107.2012.678978
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    References listed on IDEAS

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    1. Reint Gropp & Florian Heider, 2010. "The Determinants of Bank Capital Structure," Review of Finance, European Finance Association, vol. 14(4), pages 587-622.
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    1. repec:ris:joefas:0108 is not listed on IDEAS
    2. Chen Hsun Lee & Yung-Hsiang Ying & Koyin Chang, 2016. "Dynamic Financial Decisions with Varying Degrees of Information Asymmetry and Profitability," Review of Pacific Basin Financial Markets and Policies (RPBFMP), World Scientific Publishing Co. Pte. Ltd., vol. 19(01), pages 1-9, March.

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