References
- Ahsan, T., M. Wang, and M. A. Qureshi. 2015. “Firm, Industry and Country Level Determinants of Capital Structure: Evidence from Pakistan.” Working Paper.
- Baltagi, B. H. 2005. Econometric Analysis of Panel Data. 3rd ed. New York: John Wiley & Sons.
- Brounen, D., A. de Jong, and K. Koedijk. 2006. “Capital Structure Policies in Europe: Survey Evidence.” Journal of Banking & Finance 30: 1409–1442. doi:10.1016/j.jbankfin.2005.02.010.
- Choi, I. 2001. “Unit Root Tests for Panel Data.” Journal of International Money and Finance 20: 249–272. doi:10.1016/S0261-5606(00)00048-6.
- Donaldson, G. 1961. Corporate Debt Capacity: A Study of Corporate Debt Policy and the Determination of Corporate Debt Capacity. Boston, MA: Harvard, Graduate School of Business Administration.
- Fama, E. F., and K. R. French. 2002. “Testing Trade-Off and Pecking Order Predictions about Dividends and Debt.” Review of Financial Studies 15: 1–33. doi:10.1093/rfs/15.1.1.
- Flannery, M. J., and K. P. Rangan. 2006. “Partial Adjustment toward Target Capital Structures.” Journal of Financial Economics 79: 469–506. doi:10.1016/j.jfineco.2005.03.004.
- Frank, M. Z., and V. K. Goyal. 2009. “Capital Structure Decisions: Which Factors are Reliably Important?” Financial Management 38: 1–37. doi:10.1111/fima.2009.38.issue-1.
- Graham, J. R., and C. R. Harvey. 2001. “The Theory and Practice of Corporate Finance: Evidence from the Field.” Journal of Financial Economics 60: 187–243. doi:10.1016/S0304-405X(01)00044-7.
- Granger, C. W. J., and P. Newbold. 1974. “Spurious Regressions in Econometrics.” Journal of Econometrics 2: 111–120. doi:10.1016/0304-4076(74)90034-7.
- Huang, R., and J. Ritter. 2009. “Testing Theories of Capital Structure and Estimating the Speed of Adjustment.” Journal of Financial and Quantitative Analysis 44: 237–271. doi:10.1017/S0022109009090152.
- Im, K., M. H. Pesaran, and Y. Shin. 2003. “Testing for Unit Roots in Heterogeneous Panels.” Journal of Econometrics 115: 53–74. doi:10.1016/S0304-4076(03)00092-7.
- Jensen, M. C., and W. H. Meckling. 1976. “Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure.” Journal of Financial Economics 3: 305–360. doi:10.1016/0304-405X(76)90026-X.
- Jõeveer, K. 2013. “Firm, Country and Macroeconomic Determinants of Capital Structure: Evidence from Transition Economies.” Journal of Comparative Economics 41: 294–308. doi:10.1016/j.jce.2012.05.001.
- Khwaja, A. I., and A. Mian. 2005. “Do Lenders Favor Politically Connected Firms? Rent Provision in an Emerging Financial Market.” The Quarterly Journal of Economics 120: 1371–1411. doi:10.1162/003355305775097524.
- Levin, A., C.-F. Lin, and C.-S. J. Chu. 2002. “Unit Root Tests in Panel Data: Asymptotic and Finite-Sample Properties.” Journal of Econometrics 108: 1–24. doi:10.1016/S0304-4076(01)00098-7.
- Maddala, G. S., and S. Wu. 1999. “A Comparative Study of Unit Root Tests with Panel Data and a New Simple Test.” Oxford Bulletin of Economics and Statistics 61: 631–652. doi:10.1111/obes.1999.61.issue-S1.
- Modigliani, F., and M. H. Miller. 1958. “The Cost of Capital, Corporation Finance and the Theory of Investment.” American Economic Review XLVIII: 261–280.
- Modigliani, F., and M. H. Miller. 1963. “Corporate Income Taxes and the Cost of Capital: A Correction.” American Economic Review 53: 433–443.
- Myers, S. C. 1977. “Determinants of Corporate Borrowing.” Journal of Financial Economics 5 (2): 147–175. doi:10.1016/0304-405X(77)90015-0.
- Myers, S. C., and N. S. Majluf. 1984. “Corporate Financing and Investment Decisions When Firms Have Information that Investors Do Not Have.” Journal of Financial Economics 13 (2): 187–221. doi:10.1016/0304-405X(84)90023-0.
- Qureshi, M. A. 2009. “Does Pecking Order Theory Explain Leverage Behaviour in Pakistan?” Applied Financial Economics 19: 1365–1370. doi:10.1080/09603100902817592.
- Qureshi, M. A., M. Imdadullah, and T. Ahsan. 2012. “What Determines Leverage in Pakistan? A Panel Data Analysis.” African Journal of Business Management 6: 978–985.
- Ross, S. A. 1977. “The Determination of Financial Structure: The Incentive-Signalling Approach.” The Bell Journal of Economics 8: 23–40. doi:10.2307/3003485.
- Shah, A., and T. Hijazi. 2004. “The Determinants of Capital Structure of Stock Exchange-listed Non-financial Firms in Pakistan.” The Pakistan Development Review 43: 605–618.
- Sheikh, N. A., and M. A. Qureshi. 2014. “Crowding-Out or Shying-Away: Impact of Corporate Income Tax on Capital Structure Choice of Firms in Pakistan.” Applied Financial Economics 24: 1249–1260. doi:10.1080/09603107.2014.925053.
- Sheikh, N. A., and Z. Wang. 2010. “Financing Behaviour of Textile Firms in Pakistan.” International Journal of Innovation, Management and Technology 1: 130–135.
- Sheikh, N. A., and Z. Wang. 2011. “Determinants of Capital Structure: An Empirical Study of Firms in Manufacturing Industry of Pakistan.” Managerial Finance 37: 117–133. doi:10.1108/03074351111103668.
- Stulz, R. M. 1990. “Managerial Discretion and Optimal Financing Policies.” Journal of Financial Economics 26: 3–27. doi:10.1016/0304-405X(90)90011-N.