Matches in SemOpenAlex for { <https://semopenalex.org/work/W2922752806> ?p ?o ?g. }
- W2922752806 endingPage "25" @default.
- W2922752806 startingPage "1" @default.
- W2922752806 abstract "This study investigates the endogenous determination of firm efficiency and leverage while testing the competing hypotheses of agency cost, efficiency-risk and franchise-value, in a sample of 136 non-financial firms listed on the Pakistan Stock Exchange (PSX), over the period 2002 to 2012. Data Envelopment Analysis (DEA) method is employed to measure firm efficiency as proxy for firm performance. The endogenous nature of firm efficiency and leverage allowed using two-stage least square (2SLS) technique. The findings of the efficiency equation suggest that leverage has a significant positive effect on firm efficiency. Additionally, firm risk, growth rate, size, board size and board composition positively affect firm efficiency. On the other hand, the results of the leverage equation suggest that firm efficiency has a significant negative effect on leverage. Firm size and CEO duality have positive effects on leverage while firm age, board composition, institutional ownership, managerial ownership and asset tangibility have negative effects on leverage. Generally, the results support agency cost and franchise-value hypotheses that higher leverage improves firm efficiency while higher firm efficiency results in reduced leverage. Keywords: Leverage, Firm Efficiency, Capital Structure, Firm Performance, Data Envelopment Analysis" @default.
- W2922752806 created "2019-04-01" @default.
- W2922752806 creator A5037073496 @default.
- W2922752806 creator A5059862640 @default.
- W2922752806 date "2019-03-01" @default.
- W2922752806 modified "2023-10-17" @default.
- W2922752806 title "Corporate Financing and Firm Efficiency: A Data Envelopment Analysis Approach" @default.
- W2922752806 cites W1527412032 @default.
- W2922752806 cites W1827033679 @default.
- W2922752806 cites W1938479327 @default.
- W2922752806 cites W1964659862 @default.
- W2922752806 cites W1970218265 @default.
- W2922752806 cites W1972264357 @default.
- W2922752806 cites W1978175480 @default.
- W2922752806 cites W2000578291 @default.
- W2922752806 cites W2007946665 @default.
- W2922752806 cites W2010763574 @default.
- W2922752806 cites W2016338385 @default.
- W2922752806 cites W2024003334 @default.
- W2922752806 cites W2041889606 @default.
- W2922752806 cites W2049131632 @default.
- W2922752806 cites W2061630168 @default.
- W2922752806 cites W2065480672 @default.
- W2922752806 cites W2079143095 @default.
- W2922752806 cites W2086467343 @default.
- W2922752806 cites W2095299437 @default.
- W2922752806 cites W2104273456 @default.
- W2922752806 cites W2112352537 @default.
- W2922752806 cites W2115846503 @default.
- W2922752806 cites W2117635915 @default.
- W2922752806 cites W2121925065 @default.
- W2922752806 cites W2124597406 @default.
- W2922752806 cites W2129763896 @default.
- W2922752806 cites W2140176110 @default.
- W2922752806 cites W2144026687 @default.
- W2922752806 cites W2152727007 @default.
- W2922752806 cites W2162180338 @default.
- W2922752806 cites W2162448899 @default.
- W2922752806 cites W2165847498 @default.
- W2922752806 cites W2167351159 @default.
- W2922752806 cites W24030081 @default.
- W2922752806 cites W2519599612 @default.
- W2922752806 cites W2565229983 @default.
- W2922752806 cites W2718067927 @default.
- W2922752806 cites W2733286021 @default.
- W2922752806 cites W2752617332 @default.
- W2922752806 cites W2991106926 @default.
- W2922752806 cites W3121131820 @default.
- W2922752806 cites W3121693921 @default.
- W2922752806 cites W3122274904 @default.
- W2922752806 cites W3122340701 @default.
- W2922752806 cites W3124135036 @default.
- W2922752806 cites W3125898175 @default.
- W2922752806 cites W1519624494 @default.
- W2922752806 cites W2140300942 @default.
- W2922752806 doi "https://doi.org/10.30541/v58i1pp.1-25" @default.
- W2922752806 hasPublicationYear "2019" @default.
- W2922752806 type Work @default.
- W2922752806 sameAs 2922752806 @default.
- W2922752806 citedByCount "0" @default.
- W2922752806 crossrefType "journal-article" @default.
- W2922752806 hasAuthorship W2922752806A5037073496 @default.
- W2922752806 hasAuthorship W2922752806A5059862640 @default.
- W2922752806 hasBestOaLocation W29227528061 @default.
- W2922752806 hasConcept C10138342 @default.
- W2922752806 hasConcept C106159729 @default.
- W2922752806 hasConcept C119857082 @default.
- W2922752806 hasConcept C120527767 @default.
- W2922752806 hasConcept C120757647 @default.
- W2922752806 hasConcept C121955636 @default.
- W2922752806 hasConcept C126255220 @default.
- W2922752806 hasConcept C144133560 @default.
- W2922752806 hasConcept C149782125 @default.
- W2922752806 hasConcept C149933338 @default.
- W2922752806 hasConcept C153083717 @default.
- W2922752806 hasConcept C162324750 @default.
- W2922752806 hasConcept C175444787 @default.
- W2922752806 hasConcept C181622380 @default.
- W2922752806 hasConcept C200707436 @default.
- W2922752806 hasConcept C200870193 @default.
- W2922752806 hasConcept C22088475 @default.
- W2922752806 hasConcept C23032112 @default.
- W2922752806 hasConcept C33923547 @default.
- W2922752806 hasConcept C36673458 @default.
- W2922752806 hasConcept C39389867 @default.
- W2922752806 hasConcept C40700 @default.
- W2922752806 hasConcept C41008148 @default.
- W2922752806 hasConcept C44750222 @default.
- W2922752806 hasConcept C556758197 @default.
- W2922752806 hasConcept C63545947 @default.
- W2922752806 hasConcept C84148228 @default.
- W2922752806 hasConceptScore W2922752806C10138342 @default.
- W2922752806 hasConceptScore W2922752806C106159729 @default.
- W2922752806 hasConceptScore W2922752806C119857082 @default.
- W2922752806 hasConceptScore W2922752806C120527767 @default.
- W2922752806 hasConceptScore W2922752806C120757647 @default.
- W2922752806 hasConceptScore W2922752806C121955636 @default.
- W2922752806 hasConceptScore W2922752806C126255220 @default.