Firm level assessment of Pakistan and Malaysia Free Trade Agreement

IF 5.5 Q1 MANAGEMENT

Asia Pacific Management Review Pub Date : 2022-12-01 DOI:10.1016/j.apmrv.2021.10.001

Ch. Mazhar Hussain PhD (Assistant Professor) , Syed Zulfiqar Ali Shah PhD (Professor)

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引用次数: 1

Abstract

The core idea of this paper is to assess before and after effect of Pakistan and Malaysia Free Trade Agreement (FTA) on firm level financial factors. The empirical analysis covers the balanced panel data for the period from 2003 to 2014 and uses regression analysis. This study finds that due to change in trade policy, profits decrease, increase in leverage and decline dividend payouts of the firms, which are facing import and export competition. Nonetheless, the firms, which are export oriented and other firms, which enhance their competency by importing latest technology leads toward surge in profits, lower leverage and increase in dividend payments. The contribution of this study is to assist the trade policy makers in formulating the agreements with other ASEAN member countries as well as the corporate managers to make the international trade strategy for the firm to compete in the South East Asian region. To the best of the knowledge, this topic has not been addressed in the literature before.

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巴基斯坦和马来西亚自由贸易协定的企业级评估

本文的核心思想是评估巴基斯坦与马来西亚自由贸易协定(FTA)前后对企业层面财务因素的影响。实证分析采用2003 - 2014年均衡面板数据，采用回归分析。研究发现，由于贸易政策的变化，面临进出口竞争的企业利润下降，杠杆率上升，股息支付减少。尽管如此，那些以出口为导向的公司和其他公司，通过进口最新技术来提高他们的能力，导致利润激增，杠杆率降低，股息支付增加。本研究的贡献在于协助贸易政策制定者制定与其他东盟成员国的贸易协定，以及协助企业管理者制定国际贸易策略，以协助企业在东南亚地区竞争。据我所知，这个话题在以前的文献中还没有提到过。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Asia Pacific Management Review MANAGEMENT-

CiteScore

8.00

自引率

4.50%

发文量

期刊介绍： Asia Pacific Management Review (APMR), peer-reviewed and published quarterly, pursues to publish original and high quality research articles and notes that contribute to build empirical and theoretical understanding for concerning strategy and management aspects in business and activities. Meanwhile, we also seek to publish short communications and opinions addressing issues of current concern to managers in regards to within and between the Asia-Pacific region. The covered domains but not limited to, such as accounting, finance, marketing, decision analysis and operation management, human resource management, information management, international business management, logistic and supply chain management, quantitative and research methods, strategic and business management, and tourism management, are suitable for publication in the APMR.