{"id":"https://openalex.org/W2238923201","doi":null,"title":"Adjustment speed towards target capital structure and its determinants in Pakistan","display_name":"Adjustment speed towards target capital structure and its determinants in Pakistan","publication_year":2015,"publication_date":"2015-01-01","ids":{"openalex":"https://openalex.org/W2238923201","mag":"2238923201"},"language":"en","primary_location":{"id":"pmh:oai:etd.uum.edu.my:5406","doi":null,"is_oa":true,"landing_page_url":"http://etd.uum.edu.my/5406/","pdf_url":"http://etd.uum.edu.my/5406/1/s95092.pdf","source":{"id":"https://openalex.org/S4377196727","display_name":"UUM Electronic Theses and Dissertation [eTheses] (Northern University of Malaysia)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I94625822","host_organization_name":"Universiti Utara Malaysia","host_organization_lineage":["https://openalex.org/I94625822"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"Thesis"},"volume":null,"type":"dissertation","is_traditional":true,"indexed_in":[],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"http://etd.uum.edu.my/5406/1/s95092.pdf","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5045589799","display_name":"Pervaiz Ahmed Memon","orcid":null,"observed_orcids":[]},"institutions":[],"countries":[],"is_corresponding":true,"raw_author_name":"Pervaiz Ahmed Memon","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]}],"institutions":[],"countries_distinct_count":0,"institutions_distinct_count":0,"corresponding_author_ids":["https://openalex.org/A5045589799"],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":true,"cited_by_count":0,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9951000213623047,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9951000213623047,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12123","display_name":"Financial Analysis and Corporate Governance","score":0.0027000000700354576,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12675","display_name":"Financial Reporting and Valuation Research","score":0.00019999999494757503,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/capital-structure","display_name":"capital structure","score":0.7749999761581421},{"id":"https://openalex.org/keywords/target-capital-structure","display_name":"target capital structure","score":0.9449999928474426},{"id":"https://openalex.org/keywords/speed-of-adjustment","display_name":"speed of adjustment","score":0.9559999704360962},{"id":"https://openalex.org/keywords/optimal-capital-structure","display_name":"optimal capital structure","score":0.7820000052452087},{"id":"https://openalex.org/keywords/non-financial-listed-companies","display_name":"non-financial listed companies","score":0.8489999771118164},{"id":"https://openalex.org/keywords/leverage-determinants","display_name":"leverage determinants","score":0.6660000085830688},{"id":"https://openalex.org/keywords/profitability","display_name":"profitability","score":0.6060000061988831},{"id":"https://openalex.org/keywords/stock-market-development","display_name":"stock market development","score":0.9259999990463257},{"id":"https://openalex.org/keywords/interest-rates","display_name":"interest rates","score":0.5429999828338623},{"id":"https://openalex.org/keywords/corporate-cash-holdings","display_name":"cash holdings","score":0.7039999961853027},{"id":"https://openalex.org/keywords/pakistan","display_name":"Pakistan","score":0.6959999799728394}],"concepts":[{"id":"https://openalex.org/C149933338","wikidata":"https://www.wikidata.org/wiki/Q950816","display_name":"Capital structure","level":3,"score":0.8703838586807251},{"id":"https://openalex.org/C135665773","wikidata":"https://www.wikidata.org/wiki/Q2234049","display_name":"Debt ratio","level":3,"score":0.6771004796028137},{"id":"https://openalex.org/C73116969","wikidata":"https://www.wikidata.org/wiki/Q16954906","display_name":"Debt-to-capital ratio","level":5,"score":0.602125346660614},{"id":"https://openalex.org/C120527767","wikidata":"https://www.wikidata.org/wiki/Q3196867","display_name":"Debt","level":2,"score":0.5554034113883972},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.5355883240699768},{"id":"https://openalex.org/C153083717","wikidata":"https://www.wikidata.org/wiki/Q6535263","display_name":"Leverage (statistics)","level":2,"score":0.5181899666786194},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.4756859540939331},{"id":"https://openalex.org/C91602232","wikidata":"https://www.wikidata.org/wiki/Q756115","display_name":"Volatility (finance)","level":2,"score":0.4618133306503296},{"id":"https://openalex.org/C610760","wikidata":"https://www.wikidata.org/wiki/Q1340706","display_name":"Endogeneity","level":2,"score":0.4535251557826996},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.42316004633903503},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.41825827956199646},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.3730912208557129},{"id":"https://openalex.org/C129361004","wikidata":"https://www.wikidata.org/wiki/Q2470236","display_name":"Profitability index","level":2,"score":0.34990012645721436},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.3113602101802826},{"id":"https://openalex.org/C105795698","wikidata":"https://www.wikidata.org/wiki/Q12483","display_name":"Statistics","level":1,"score":0.0914071798324585},{"id":"https://openalex.org/C155530773","wikidata":"https://www.wikidata.org/wiki/Q591174","display_name":"Return on equity","level":3,"score":0.08033975958824158},{"id":"https://openalex.org/C124972522","wikidata":"https://www.wikidata.org/wiki/Q1303176","display_name":"Equity ratio","level":4,"score":0.07468804717063904},{"id":"https://openalex.org/C33923547","wikidata":"https://www.wikidata.org/wiki/Q395","display_name":"Mathematics","level":0,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"pmh:oai:etd.uum.edu.my:5406","doi":null,"is_oa":true,"landing_page_url":"http://etd.uum.edu.my/5406/","pdf_url":"http://etd.uum.edu.my/5406/1/s95092.pdf","source":{"id":"https://openalex.org/S4377196727","display_name":"UUM Electronic Theses and Dissertation [eTheses] (Northern University of Malaysia)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I94625822","host_organization_name":"Universiti Utara Malaysia","host_organization_lineage":["https://openalex.org/I94625822"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"Thesis"},{"id":"mag:2238923201","doi":null,"is_oa":false,"landing_page_url":"https://etd.uum.edu.my/id/eprint/5406","pdf_url":null,"source":null,"license":null,"license_id":null,"version":null,"is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":null}],"best_oa_location":{"id":"pmh:oai:etd.uum.edu.my:5406","doi":null,"is_oa":true,"landing_page_url":"http://etd.uum.edu.my/5406/","pdf_url":"http://etd.uum.edu.my/5406/1/s95092.pdf","source":{"id":"https://openalex.org/S4377196727","display_name":"UUM Electronic Theses and Dissertation [eTheses] (Northern University of Malaysia)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I94625822","host_organization_name":"Universiti Utara Malaysia","host_organization_lineage":["https://openalex.org/I94625822"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"Thesis"},"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":true,"pdf":true},"content_urls":{"pdf":"https://content.openalex.org/works/W2238923201.pdf","grobid_xml":"https://content.openalex.org/works/W2238923201.grobid-xml"},"referenced_works_count":125,"referenced_works":["https://openalex.org/W38646360","https://openalex.org/W40260141","https://openalex.org/W655701155","https://openalex.org/W1487057797","https://openalex.org/W1492289937","https://openalex.org/W1497848524","https://openalex.org/W1501269936","https://openalex.org/W1503547616","https://openalex.org/W1546993880","https://openalex.org/W1547432295","https://openalex.org/W1559772812","https://openalex.org/W1560673141","https://openalex.org/W1568102150","https://openalex.org/W1573692588","https://openalex.org/W1590558352","https://openalex.org/W1603195007","https://openalex.org/W1762464762","https://openalex.org/W1823890749","https://openalex.org/W1880170022","https://openalex.org/W1911500356","https://openalex.org/W1965069187","https://openalex.org/W1971417708","https://openalex.org/W1976331115","https://openalex.org/W1977379364","https://openalex.org/W1978517036","https://openalex.org/W1982156134","https://openalex.org/W1983709769","https://openalex.org/W1984270607","https://openalex.org/W1988607298","https://openalex.org/W1997500202","https://openalex.org/W2000578291","https://openalex.org/W2005435342","https://openalex.org/W2007338890","https://openalex.org/W2010837373","https://openalex.org/W2011900645","https://openalex.org/W2024569236","https://openalex.org/W2025610165","https://openalex.org/W2028486625","https://openalex.org/W2034625637","https://openalex.org/W2037841399","https://openalex.org/W2047887579","https://openalex.org/W2050226464","https://openalex.org/W2051605905","https://openalex.org/W2054619117","https://openalex.org/W2056074969","https://openalex.org/W2056734545","https://openalex.org/W2058507422","https://openalex.org/W2063955807","https://openalex.org/W2069271085","https://openalex.org/W2069601427","https://openalex.org/W2077121140","https://openalex.org/W2082198256","https://openalex.org/W2086660226","https://openalex.org/W2090227940","https://openalex.org/W2090477211","https://openalex.org/W2091596451","https://openalex.org/W2096992745","https://openalex.org/W2103230795","https://openalex.org/W2105715156","https://openalex.org/W2109798376","https://openalex.org/W2111384383","https://openalex.org/W2115846503","https://openalex.org/W2115849388","https://openalex.org/W2121308228","https://openalex.org/W2122529435","https://openalex.org/W2124148207","https://openalex.org/W2124597406","https://openalex.org/W2126144091","https://openalex.org/W2126903234","https://openalex.org/W2129580098","https://openalex.org/W2129717103","https://openalex.org/W2130182730","https://openalex.org/W2131124263","https://openalex.org/W2139070672","https://openalex.org/W2144470805","https://openalex.org/W2150221055","https://openalex.org/W2153183220","https://openalex.org/W2153230931","https://openalex.org/W2153524047","https://openalex.org/W2155146386","https://openalex.org/W2155836946","https://openalex.org/W2157675688","https://openalex.org/W2158106972","https://openalex.org/W2170790204","https://openalex.org/W2183047618","https://openalex.org/W2185027864","https://openalex.org/W2248183677","https://openalex.org/W2512390718","https://openalex.org/W2740766300","https://openalex.org/W2752617332","https://openalex.org/W2905366712","https://openalex.org/W3121131820","https://openalex.org/W3121348973","https://openalex.org/W3121819860","https://openalex.org/W3122051430","https://openalex.org/W3122274904","https://openalex.org/W3122420571","https://openalex.org/W3122509093","https://openalex.org/W3122550102","https://openalex.org/W3123053174","https://openalex.org/W3123122451","https://openalex.org/W3123142049","https://openalex.org/W3123158322","https://openalex.org/W3123200913","https://openalex.org/W3123206484","https://openalex.org/W3123309537","https://openalex.org/W3123696576","https://openalex.org/W3123753388","https://openalex.org/W3123850128","https://openalex.org/W3124044836","https://openalex.org/W3124114405","https://openalex.org/W3124117485","https://openalex.org/W3124131383","https://openalex.org/W3124207777","https://openalex.org/W3124223064","https://openalex.org/W3124290898","https://openalex.org/W3124324454","https://openalex.org/W3124364840","https://openalex.org/W3124450204","https://openalex.org/W3124896946","https://openalex.org/W3125402439","https://openalex.org/W3125402871","https://openalex.org/W3125968817","https://openalex.org/W3176682987","https://openalex.org/W4239305870"],"related_works":["https://openalex.org/W3117860290","https://openalex.org/W2174926028","https://openalex.org/W2206591353","https://openalex.org/W7110992103","https://openalex.org/W2968052087","https://openalex.org/W2481190468","https://openalex.org/W2325455787","https://openalex.org/W4317676793","https://openalex.org/W7100417141","https://openalex.org/W7215305423"],"abstract_inverted_index":{"This":[0,244],"study":[1,29,100,245],"investigates":[2],"the":[3,6,10,17,24,28,33,41,44,53,56,70,88,93,102,132,152,172,190,209,214,242,248,252,259,271,276],"dynamism":[4],"of":[5,9,27,72,82,104,134,154,171,192,241,251,261,299],"capital":[7,38,49,58,77,106,122,182,253,263,281,291],"structure":[8,107,123,183,254,264,292],"non-financial":[11,110],"listed":[12,111],"firms":[13,116],"in":[14,124,247,265],"Pakistan":[15,294],"for":[16,108,293],"period":[18],"from":[19],"2003":[20],"to":[21,31,68,91,127,148,166,187,221,228,234],"2012.":[22],"Specifically,":[23],"main":[25],"objectives":[26],"are":[30,66,145,164,184,237],"estimate":[32],"adjustment":[34,45,73,119,141,173,277,287],"speed":[35,46,74,142,278,288],"towards":[36,47,120,143,279,289],"target":[37,48,57,76,135,144,181,210,223,262,280,290],"structure,":[39,50,282],"determining":[40],"factors":[42,54,65,139,179,285],"affecting":[43,55,140,180,208,286],"and":[51,62,75,95,113,162,176,200,206,231,283],"identifying":[52],"structure.":[59,78],"Firm":[60,175],"specific":[61,64,178,217],"country":[63,177,216],"used":[67,86,238],"investigate":[69],"determinants":[71,170],"Difference":[79],"Generalized":[80],"Method":[81],"Moments":[83],"(GMM)":[84],"is":[85,219,270],"as":[87,239],"estimation":[89],"technique":[90],"avoid":[92],"endogeneity":[94],"serial":[96],"correlation":[97],"problems.":[98],"The":[99],"confirms":[101],"existence":[103,260],"optimal":[105,121],"Pakistani":[109],"firms,":[112],"concludes":[114],"that":[115,274],"make":[117],"full":[118],"1.46":[125],"years":[126],"2.03":[128],"years,":[129],"depending":[130],"upon":[131,151],"proxy":[133,153],"debt":[136,155,193,224,233],"used.":[137,156,194],"Similarly,":[138],"also":[146,185],"found":[147,165,186,220],"be":[149,167],"dependent":[150],"Firms\u2019":[157],"profitability,":[158],"stock":[159],"market":[160],"development,":[161],"distance":[163],"relatively":[168],"consistent":[169],"speed.":[174],"vary":[188],"across":[189],"proxies":[191,298],"However,":[195],"tangibility,":[196],"earning":[197],"volatility,":[198],"cash,":[199],"industry":[201],"median":[202],"leverage":[203],"appear":[204],"consistently":[205],"significantly":[207],"leverage.":[211,300],"Interest":[212],"rate,":[213],"only":[215],"factor,":[218],"affect":[222],"when":[225],"total":[226,229,232,235],"liabilities":[227],"assets":[230,236],"measure":[240],"debt.":[243],"contributes":[246],"existing":[249],"literature":[250],"by":[255],"providing":[256],"evidence":[257],"regarding":[258],"Pakistan.":[266],"In":[267],"addition,":[268],"this":[269],"first":[272],"attempt":[273],"estimates":[275],"identifies":[284],"using":[295],"four":[296],"different":[297]},"counts_by_year":[],"updated_date":"2026-11-08T12:12:28.789561","created_date":"2016-06-24T00:00:00"}
