<abstract xmlns="http://www.w3.org/1999/xhtml">

<p>The current study investigates the influence of firm attributes and government external debt upon the short debt maturity of non-financial firms listed at the Pakistan Stock Exchange (PSX) in a post-CPEC (China Pakistan Economic Corridor) scenario. By using firm-level panel data, estimations are made through the random effect model with robust standard errors at the level and with lagged independent variables. We dealt endogeneity concerns by employing the system-GMM approach to the complete data sample of 331 firms over a period ranging from 2013 to 2017 and also the post CPEC period ranging from 2015 to 2017. The risk and asset tangibility are strong negative predictors of short debt maturity in Pakistani listed firms. The external debt had a positive and significant role in defining short debt maturity. These results were consistent for both the entire data period and the post CPEC period.</p>
</abstract>

The current study investigates the influence of firm attributes and government external debt upon the short debt maturity of non-financial firms listed at the Pakistan Stock Exchange (PSX) in a post-CPEC (China Pakistan Economic Corridor) scenario. By using firm-level panel data, estimations are made through the random effect model with robust standard errors at the level and with lagged independent variables. We dealt endogeneity concerns by employing the system-GMM approach to the complete data sample of 331 firms over a period ranging from 2013 to 2017 and also the post CPEC period ranging from 2015 to 2017. The risk and asset tangibility are strong negative predictors of short debt maturity in Pakistani listed firms. The external debt had a positive and significant role in defining short debt maturity. These results were consistent for both the entire data period and the post CPEC period.

Firm Attributes and Government External Debt as Determinants of Corporate Short Debt Maturity in a Post-CPEC Scenario

Department of Business and Management Sciences

Department of Mathematics, Division of Science and Technology

Zagreb International Review of Economics and Business

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

The current study investigates the influence of firm attributes and government external debt upon the short debt maturity of non-financial firms listed at the...

Firm Attributes and Government External Debt as Determinants of Corporate Short Debt Maturity in a Post-CPEC Scenario

Online veröffentlicht: 03. Juni 2024

Seitenbereich: 137 - 154

DOI: https://doi.org/10.2478/zireb-2024-0007

Schlüsselwörter
External Government Debt, Short Debt Maturity, Firm Attributes, CPEC

© 2024 Rana Yassir Hussain et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

Firm Attributes and Government External Debt as Determinants of Corporate Short Debt Maturity in a Post-CPEC Scenario

Online veröffentlicht: 03. Juni 2024

Seitenbereich: 137 - 154

DOI: https://doi.org/10.2478/zireb-2024-0007

SchlüsselwörterExternal Government Debt, Short Debt Maturity, Firm Attributes, CPEC

© 2024 Rana Yassir Hussain et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

Schlüsselwörter
External Government Debt, Short Debt Maturity, Firm Attributes, CPEC