杠杆、债务期限与公司财务绩效:来自巴基斯坦证券交易所上市非金融公司的证据

Q3 Economics, Econometrics and Finance

Afro-Asian Journal of Finance and Accounting Pub Date : 2023-11-02 DOI:10.53819/81018102t5266

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引用次数: 0

摘要

杠杆、债务期限和公司财务业绩是非金融企业融资的组成部分。杠杆的选择，衡量债务在公司资本结构中的使用，可以影响盈利能力和财务风险。债务期限的决定，无论是选择短期还是长期债务，都会影响流动性管理和利率风险。杠杆和债务期限之间的战略平衡在塑造公司的整体财务健康和竞争力方面发挥着关键作用，使这些因素成为在巴基斯坦证券交易所等证券交易所上市的公司的重要考虑因素。本研究采用描述性研究设计。目标人群是30家在巴基斯坦证券交易所上市的非金融公司。该研究对从巴基斯坦证券交易所上市的30家非金融公司的目标人群中选择的22名受访者进行了抽样调查。调查问卷被用来收集数据。总之，在巴基斯坦证券交易所上市的非金融公司中，杠杆、债务期限和公司财务绩效之间的复杂关系突出了在风险和回报之间取得谨慎平衡的重要性。杠杆和债务期限选择的有效管理对于优化财务绩效、确保稳定性和增强证券交易所动态环境中的竞争力至关重要。该研究建议，在巴基斯坦证券交易所上市的非金融公司应采取战略方法，平衡杠杆和债务期限决策，考虑行业具体动态，并定期进行风险评估。此外，与监管机构保持积极对话，遵守不断变化的金融法规，对于确保金融实践符合监管预期，维护投资者对psx上市公司的信心至关重要。关键词:杠杆，债务期限，财务绩效，巴基斯坦

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Leverage, Debt Maturity and Corporate Financial Performance: Evidence from Non-Financial Firms Listed at Pakistan Stock Exchange

Leverage, debt maturity, and corporate financial performance are integral aspects of corporate finance for non-financial firms. The choice of leverage, which measures the use of debt in a company's capital structure, can impact profitability and financial risk. Debt maturity decisions, whether opting for short-term or long-term debt, affect liquidity management and interest rate risk. The strategic balance between leverage and debt maturity plays a pivotal role in shaping a company's overall financial health and competitiveness, making these factors essential considerations for firms listed at stock exchanges like the Pakistan Stock Exchange. The study adopted the descriptive research design. The target population was 30 Non-Financial Firms Listed at Pakistan Stock Exchange. The study did sampling of 22 respondents that were chosen from the target population of 30 Non-Financial Firms Listed at Pakistan Stock Exchange. Questionnaires were used to gather the data. In conclusion, the intricate relationships between leverage, debt maturity, and corporate financial performance among non-financial firms listed at the Pakistan Stock Exchange highlight the importance of striking a careful balance between risk and return. Effective management of leverage and debt maturity choices is crucial for optimizing financial performance, ensuring stability, and enhancing competitiveness in the dynamic landscape of the stock exchange. The study recommended that Non-financial firms listed at the Pakistan Stock Exchange should adopt a strategic approach to balance leverage and debt maturity decisions, considering industry-specific dynamics and conducting regular risk assessments. Furthermore, maintaining a proactive dialogue with regulatory bodies and staying compliant with evolving financial regulations is essential to ensure that financial practices align with regulatory expectations and maintain investor confidence in PSX-listed companies. Keywords: Leverage, Debt Maturity, Financial Performance, Pakistan

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来源期刊

Afro-Asian Journal of Finance and Accounting Economics, Econometrics and Finance-Finance

CiteScore

0.70

自引率

0.00%

发文量

期刊介绍： Finance and accounting are seen as essential components for the successful implementation of market-based development policies supporting economic liberalisation in the rapidly emerging economies in Africa, the Middle-East and Asia. AAJFA aims to foster greater discussion and research of the development of the finance and accounting disciplines in these regions. A major feature of the journal will be to emphasise the implications of this development and the effects on businesses, academics and professionals. Topics covered include: -Asset pricing, corporate finance, banking; market microstructure -Behavioural and experimental finance; law and finance -Emerging economies: finance, audit committees, corporate governance -Islamic finance, accounting and auditing -Equity analysis and valuation, venture capital and IPOs -National GAAP and IASs compliance, harmonisation and strategies -Financial measurement/disclosure, and the quality of information reported -Accountability and social/ethical/environmental measurement/reporting -Cultural, political, institutional impact on financial measurement/disclosure -Accounting practices for intellectual capital and other intangible assets -Provision of non-audit services and impairment to auditor independence -Audit quality and auditor skills; internal control/auditing -Management accounting, control and /use of key performance indicators -Accounting education and professional development, accounting history -Public sector and not-for-profit accounting