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

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: https://mpra.ub.uni-muenchen.de/443/1/MPRA_paper_443.pdf
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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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  17. Hayne Leland, 1978. "Information, Managerial Choice and Stockholder Unanimity," Review of Economic Studies, Oxford University Press, vol. 45(3), pages 527-534.
  18. Shleifer, Andrei & Vishny, Robert W., 1986. "Large Shareholders and Corporate Control," Scholarly Articles 3606237, Harvard University Department of Economics.
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