Purpose: The purpose of this study is to find the relationship of capital structure decision with the performance of the firms in the developing market economies like Pakistan. Methodology: Pooled Ordinary Least Square regression was applied to 36 engineering sector firms in Pakistani market listed on the Karachi Stock Exchange (KSE) during the period 2003-2009. Findings: The results show that ...

We study the role an illiquid durable consumption good plays in determining the level of precautionary savings and the distribution of wealth in a standard Aiyagari model (i.e. a model with heterogeneous agents, idiosyncratic uncertainty, and borrowing constraints). Transactions costs induce an inaction region over which the durable stock and the associated user cost are not adjusted in respons...

Nowadays, the quality of products has become one of the critical subjects in organizations to satisfy customers and gaining profit. In this respect, Total Quality Management (TQM) is recognized as one of the popular and effective systems in organizations. Although advantages of TQM are enormous, its implementation is justified only when it has a meaningful and considerable impact on financial p...

Successful implementation of knowledge management for organization requires a systematic and comprehensive perspective about various organizational factors. Appropriateness of these factors and their integration and coordination is a vital prerequisite to implement knowledge management effectively. The primary purpose of the research is investigating the relationship between three fundamental a...

ministrative expenses would be $1,433 million. Receipts and expenditures for that year, under present and proposed legislation combined, would be $4,018 million and $2,300 million, respectively, making possible the acquisition of new securities amounting to $1,718 million. The total assets of the trust fund are expected to reach $13,033 million by June 30, 1950, and $14,751 million by June 30, ...

On an investment-consumption model with transaction costs, SIAM J. Abstract. This paper considers the optimal consumption and investment policy for an investor who has available one bank account paying a fixed interest rate and n risky assets whose prices are log-normal diffusions. We suppose that transactions between the assets incur a cost proportional to the size of the transaction. The prob...

Malpractice insurance provides for payments to patients so that a physician need not compensate harmed patients from personal assets. The bankruptcy system also protects a debtor's assets from seizure by creditors. In this paper, we estimate the e ect of personal asset protection on physician practice decisions. Variation in bankruptcy law provides exogenous variation in risk to physician perso...

We present a model incorporating both social and economic components, and analyze their interaction. The notion of a social asset, an attribute that has value only because of the social institutions governing society, is introduced. In the basic model, agents match on the basis of income and unproductive attributes. An attribute has value in some equilibrium social institutions (matching patter...

Should long-term assets such as infrastructure, education, and the environment earn the same return as productive capital? If yes, we can say that investments in such assets pass the cost-benefit test. But time-inconsistent decision-makers prefer to violate the test: long-term assets provide commitment to current preferences, leading to investment biases. We formulate the cost-benefit requireme...

Recent studies have shown that the majority of the poor lack access to formal banking services of any kind and have emphasized the importance of enabling savings. Using a field experiment I investigate the impact of expanding household access to a savings account with no withdrawal fees on savings and borrowing behavior, assets accumulation, and investment in health and education. A savings acc...