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- Title
The Consequences of Easy Credit Policy, High Gearing, and Firms' Profitability in Pakistan's Textile Sector: A Panel Data Analysis.
- Authors
Hussain, Ijaz
- Abstract
This study uses panel data on 75 textile firms for the period 2000-09 to examine the consequences of an easy credit policy followed by high gearing, increased financing costs, and other determinants of corporate profitability. Five out of nine explanatory variables-including gearing, financing costs, inflation, tax provisions, and the industry's capacity utilization ratio-have a negative impact, while the remaining four variables-working capital management, asset turnover, exports, competitiveness, and devaluation-have a positive impact on firms' profitability.
- Subjects
PAKISTAN; CREDIT control; TEXTILE industry; CORPORATE profits; ENERGY shortages
- Publication
Lahore Journal of Economics, 2012, Vol 17, Issue 1, p33
- ISSN
1811-5438
- Publication type
Article