Debt financing decision is the most important and crucial decision
in the study of capital structure and financial structure because
it leads to firm's performance. The current Study empirically
investigated a number of factors affecting debt financing decision
and firm's performance for the non-financial companies listed in
Karachi Stock Exchange of Pakistan for the period of 2005-2010. The
financial theories like Tradeoff theory (TOT) and Packing order
theory (POT) has also been tested in order to see the consistency
of factors affecting the debt financing behavior in the current
study with above said theories. A Panel data of 341 firms has been
used for empirical analysis of the current Study. The variation in
debt financing is measured by short-term, long term and total debt
while the variation in firm's performance is measured by
profitability and Return on Assets. The current study empirically
examined the effect of firm's specific factors by econometric
practice "one way-fixed effect regression model." The Current study
will help the reader for understanding how the different factors
affects debt financing and firm performance in non-financial sector
of Pakistan
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