{"id":"https://openalex.org/W2270057909","doi":null,"title":"Leverage and Firm's Performance: Evidence from Selected Business Companies in Pakistan, Listed on Karachi Stock Exchange","display_name":"Leverage and Firm's Performance: Evidence from Selected Business Companies in Pakistan, Listed on Karachi Stock Exchange","publication_year":2012,"publication_date":"2012-02-20","ids":{"openalex":"https://openalex.org/W2270057909","mag":"2270057909"},"language":"en","primary_location":{"id":"mag:2270057909","doi":null,"is_oa":true,"landing_page_url":"https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2008187","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"SSRN Electronic Journal","raw_type":null},"volume":null,"type":"preprint","is_traditional":true,"indexed_in":[],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2008187","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":null,"display_name":"S. M. Iqbal","orcid":"https://orcid.org/0000-0003-4503-6245","observed_orcids":["https://orcid.org/0000-0003-4503-6245"]},"institutions":[{"id":"https://openalex.org/I4210127363","display_name":"Institute of Management Sciences Peshawar","ror":"https://ror.org/02m8e1r74","country_code":"PK","type":"education","lineage":["https://openalex.org/I4210127363"]}],"countries":["PK"],"is_corresponding":true,"raw_author_name":"S. M. Iqbal","raw_affiliation_strings":["IM Sceinces Peshawar, Pakistan"],"raw_orcid":"https://orcid.org/0000-0003-4503-6245","affiliations":[{"raw_affiliation_string":"IM Sceinces Peshawar, Pakistan","institution_ids":["https://openalex.org/I4210127363"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":[],"corresponding_institution_ids":["https://openalex.org/I4210127363"],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":false,"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":0.8701000213623047,"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":0.8701000213623047,"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":0.11410000175237656,"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/T12544","display_name":"Working Capital and Financial Performance","score":0.006099999882280827,"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"}}],"keywords":[{"id":"https://openalex.org/keywords/financial-leverage","display_name":"leverage","score":0.8410000205039978},{"id":"https://openalex.org/keywords/capital-structure","display_name":"capital structure","score":0.765999972820282},{"id":"https://openalex.org/keywords/firm-performance","display_name":"firm performance","score":0.9860000014305115},{"id":"https://openalex.org/keywords/debt-ratio","display_name":"debt ratio","score":0.878000020980835},{"id":"https://openalex.org/keywords/debt-equity-ratio","display_name":"debt to equity ratio","score":0.9990000128746033},{"id":"https://openalex.org/keywords/asset-turnover","display_name":"asset turnover","score":0.8140000104904175},{"id":"https://openalex.org/keywords/firm-size","display_name":"firm size","score":0.984000027179718},{"id":"https://openalex.org/keywords/return-on-assets","display_name":"return on assets","score":0.968999981880188},{"id":"https://openalex.org/keywords/return-on-equity","display_name":"return on equity","score":1.0},{"id":"https://openalex.org/keywords/profit-margin","display_name":"profit margin","score":0.9900000095367432},{"id":"https://openalex.org/keywords/textile-industry","display_name":"textile industry","score":0.7630000114440918},{"id":"https://openalex.org/keywords/cement-industry","display_name":"cement industry","score":0.9399999976158142},{"id":"https://openalex.org/keywords/chemical-industry","display_name":"chemical industry","score":0.8050000071525574},{"id":"https://openalex.org/keywords/karachi-stock-exchange","display_name":"Karachi Stock Exchange","score":0.8080000281333923}],"concepts":[{"id":"https://openalex.org/C185669311","wikidata":"https://www.wikidata.org/wiki/Q1163221","display_name":"Return on assets","level":3,"score":0.767307460308075},{"id":"https://openalex.org/C155530773","wikidata":"https://www.wikidata.org/wiki/Q591174","display_name":"Return on equity","level":3,"score":0.7078681588172913},{"id":"https://openalex.org/C74153512","wikidata":"https://www.wikidata.org/wiki/Q167064","display_name":"Debt-to-equity ratio","level":4,"score":0.6712944507598877},{"id":"https://openalex.org/C200870193","wikidata":"https://www.wikidata.org/wiki/Q11691","display_name":"Stock exchange","level":2,"score":0.6367352604866028},{"id":"https://openalex.org/C112896921","wikidata":"https://www.wikidata.org/wiki/Q1728600","display_name":"Asset turnover","level":4,"score":0.6125314831733704},{"id":"https://openalex.org/C135665773","wikidata":"https://www.wikidata.org/wiki/Q2234049","display_name":"Debt ratio","level":3,"score":0.6098600029945374},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.6096457839012146},{"id":"https://openalex.org/C149933338","wikidata":"https://www.wikidata.org/wiki/Q950816","display_name":"Capital structure","level":3,"score":0.6023105978965759},{"id":"https://openalex.org/C189560676","wikidata":"https://www.wikidata.org/wiki/Q1187906","display_name":"Profit margin","level":2,"score":0.5174463391304016},{"id":"https://openalex.org/C6422946","wikidata":"https://www.wikidata.org/wiki/Q857354","display_name":"Panel data","level":2,"score":0.49115344882011414},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.4633261561393738},{"id":"https://openalex.org/C73116969","wikidata":"https://www.wikidata.org/wiki/Q16954906","display_name":"Debt-to-capital ratio","level":5,"score":0.4322047531604767},{"id":"https://openalex.org/C74370782","wikidata":"https://www.wikidata.org/wiki/Q722249","display_name":"Operating margin","level":4,"score":0.42718690633773804},{"id":"https://openalex.org/C153083717","wikidata":"https://www.wikidata.org/wiki/Q6535263","display_name":"Leverage (statistics)","level":2,"score":0.4215269684791565},{"id":"https://openalex.org/C27574286","wikidata":"https://www.wikidata.org/wiki/Q320723","display_name":"Variables","level":2,"score":0.41509169340133667},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.38439589738845825},{"id":"https://openalex.org/C120527767","wikidata":"https://www.wikidata.org/wiki/Q3196867","display_name":"Debt","level":2,"score":0.36274453997612},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.2753102779388428},{"id":"https://openalex.org/C124972522","wikidata":"https://www.wikidata.org/wiki/Q1303176","display_name":"Equity ratio","level":4,"score":0.20583492517471313},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.20276674628257751},{"id":"https://openalex.org/C105795698","wikidata":"https://www.wikidata.org/wiki/Q12483","display_name":"Statistics","level":1,"score":0.14103931188583374},{"id":"https://openalex.org/C33923547","wikidata":"https://www.wikidata.org/wiki/Q395","display_name":"Mathematics","level":0,"score":0.11496886610984802},{"id":"https://openalex.org/C149923435","wikidata":"https://www.wikidata.org/wiki/Q37732","display_name":"Demography","level":1,"score":0.0},{"id":"https://openalex.org/C2908647359","wikidata":"https://www.wikidata.org/wiki/Q2625603","display_name":"Population","level":2,"score":0.0},{"id":"https://openalex.org/C144024400","wikidata":"https://www.wikidata.org/wiki/Q21201","display_name":"Sociology","level":0,"score":0.0},{"id":"https://openalex.org/C100363876","wikidata":"https://www.wikidata.org/wiki/Q690661","display_name":"Nonprobability sampling","level":3,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"mag:2270057909","doi":null,"is_oa":true,"landing_page_url":"https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2008187","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"SSRN Electronic Journal","raw_type":null}],"best_oa_location":{"id":"mag:2270057909","doi":null,"is_oa":true,"landing_page_url":"https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2008187","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"SSRN Electronic Journal","raw_type":null},"sustainable_development_goals":[{"display_name":"Decent work and economic growth","id":"https://metadata.un.org/sdg/8","score":0.48510000109672546}],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":0,"referenced_works":[],"related_works":["https://openalex.org/W2185202640","https://openalex.org/W3018581824","https://openalex.org/W2759091756","https://openalex.org/W6911703622","https://openalex.org/W1491021707","https://openalex.org/W7167939171","https://openalex.org/W3010587189","https://openalex.org/W4210666454","https://openalex.org/W2023116748","https://openalex.org/W3127486509"],"abstract_inverted_index":{"Leverage":[0],"(debt)":[1],"is":[2],"very":[3],"important":[4],"concept":[5],"from":[6,59,112],"the":[7,10,26,124],"perspective":[8],"of":[9,13,32,45,51,92],"operational":[11],"side":[12],"a":[14],"firm.":[15],"This":[16],"research":[17],"study":[18],"tries":[19],"to":[20,24,36,74,78],"make":[21],"an":[22],"attempt":[23],"determine":[25],"relationship":[27,129,136,143],"between":[28,130,137,144,153,165],"different":[29],"proxy":[30,68],"variables":[31,69],"leverage":[33],"(closely":[34],"related":[35],"capital":[37,88],"structure)":[38],"and":[39,48,81,90,132,139,146,155,159,169,178,184],"firm\u2019s":[40],"performance":[41,91],"with":[42],"special":[43],"case":[44],"Textile,":[46],"cement":[47],"chemical":[49],"sector":[50],"Pakistan":[52],"during":[53],"2003-2009.":[54],"70":[55],"companies":[56,114],"were":[57,85],"selected":[58],"these":[60,93,113],"sectors":[61],"listed":[62],"on":[63,100,104],"Karachi":[64],"stock":[65],"exchange.":[66],"Various":[67],"such":[70],"as":[71],"DA":[72,138],"(debts":[73,77],"Assets),":[75],"DE":[76,131,158,168,185],"equity),":[79,105],"size":[80,154,177],"assets":[82],"turnover":[83,148],"ratio":[84],"measured":[86,96],"by":[87,97],"structure":[89],"firms":[94],"was":[95,115],"ROA":[98,145],"(return":[99,103],"assets),":[101],"ROE":[102,160,170,179],"PM":[106,183],"(profit":[107],"margin).":[108],"Panel":[109],"data":[110],"obtained":[111],"analyzed":[116],"using":[117],"Fixed":[118],"effect":[119],"model.":[120],"Regression":[121],"used":[122],"for":[123],"analysis":[125],"shown":[126,161],"negative":[127,134,163,188],"insignificant":[128],"ROA,":[133,140],"significant":[135,142,152,162,187],"positive":[141,151],"asset":[147],"ratio,":[149],"also":[150],"ROA.":[156],"Similarly":[157],"relation":[164],"each":[166],"other.":[167],"both":[171],"are":[172,180],"weakly":[173],"negatively":[174],"co-related":[175],"while":[176],"positively":[181],"co-related.":[182],"have":[186],"relationship.":[189]},"counts_by_year":[],"updated_date":"2026-11-08T12:12:28.789561","created_date":"2016-06-24T00:00:00"}
