Debt Market Trends and Predictors of Specialization

Detalhes bibliográficos
Autor(a) principal: Khan, Kanwal Iqbal
Data de Publicação: 2021
Outros Autores: Qadeer, Faisal, Mata, Mario Nuno, Dantas, Rui Miguel, Xavier Rita, Joao, Martins, Jessica Nunes
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10362/125965
Resumo: Khan, K. I., Qadeer, F., Mata, M. N., Dantas, R. M., Xavier Rita, J., & Martins, J. N. (2021). Debt Market Trends and Predictors of Specialization: An Analysis of Pakistani Corporate Sector. JOURNAL OF RISK AND FINANCIAL MANAGEMENT, 14(5), 1-16. [224]. https://doi.org/10.3390/jrfm14050224
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spelling Debt Market Trends and Predictors of SpecializationAn Analysis of Pakistani Corporate Sectordebt structurecapital structuredebt specializationfinancing choicesdebt market conditionsfinancial instrumentsshort-term loanslong-term loansKhan, K. I., Qadeer, F., Mata, M. N., Dantas, R. M., Xavier Rita, J., & Martins, J. N. (2021). Debt Market Trends and Predictors of Specialization: An Analysis of Pakistani Corporate Sector. JOURNAL OF RISK AND FINANCIAL MANAGEMENT, 14(5), 1-16. [224]. https://doi.org/10.3390/jrfm14050224Recently, debt structure research has started focusing on the strategic perspective of financing choices, particularly to understand the reasons for debt specialization (DS). This paper examines trends of specialization over time and industry by using a comprehensive dataset on types of debt employed by the public limited companies during 2009-2018. The objective of the current study is to analyze the effect of debt market conditions by identifying significant predictors of DS. Time-series and cross-sectional results confirm the existence of DS, which is further validated by the findings of the cluster analysis. The empirical results indicate that overall, 61% of the companies solely rely on a single type of debt, mostly on short-term obligations accompanied by long-term secured and other debts. Moreover, small, mature, rated, group-affiliated, and low-leverage companies incline more towards this strategy. Credit rating, debt maturity, financial and interest coverage ratios serve as the primary determinants of the debt market that are significantly associated with the measures of DS. The results contribute to the capital structure literature by specifying that financing choice has an important implication in deciding the debt structure composition of the organizations.NOVA Information Management School (NOVA IMS)RUNKhan, Kanwal IqbalQadeer, FaisalMata, Mario NunoDantas, Rui MiguelXavier Rita, JoaoMartins, Jessica Nunes2021-10-12T04:52:56Z2021-05-172021-05-17T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/article16application/pdfhttp://hdl.handle.net/10362/125965eng1911-8066PURE: 34205190https://doi.org/10.3390/jrfm14050224info:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-03-11T05:06:41Zoai:run.unl.pt:10362/125965Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T03:45:49.211314Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Debt Market Trends and Predictors of Specialization
An Analysis of Pakistani Corporate Sector
title Debt Market Trends and Predictors of Specialization
spellingShingle Debt Market Trends and Predictors of Specialization
Khan, Kanwal Iqbal
debt structure
capital structure
debt specialization
financing choices
debt market conditions
financial instruments
short-term loans
long-term loans
title_short Debt Market Trends and Predictors of Specialization
title_full Debt Market Trends and Predictors of Specialization
title_fullStr Debt Market Trends and Predictors of Specialization
title_full_unstemmed Debt Market Trends and Predictors of Specialization
title_sort Debt Market Trends and Predictors of Specialization
author Khan, Kanwal Iqbal
author_facet Khan, Kanwal Iqbal
Qadeer, Faisal
Mata, Mario Nuno
Dantas, Rui Miguel
Xavier Rita, Joao
Martins, Jessica Nunes
author_role author
author2 Qadeer, Faisal
Mata, Mario Nuno
Dantas, Rui Miguel
Xavier Rita, Joao
Martins, Jessica Nunes
author2_role author
author
author
author
author
dc.contributor.none.fl_str_mv NOVA Information Management School (NOVA IMS)
RUN
dc.contributor.author.fl_str_mv Khan, Kanwal Iqbal
Qadeer, Faisal
Mata, Mario Nuno
Dantas, Rui Miguel
Xavier Rita, Joao
Martins, Jessica Nunes
dc.subject.por.fl_str_mv debt structure
capital structure
debt specialization
financing choices
debt market conditions
financial instruments
short-term loans
long-term loans
topic debt structure
capital structure
debt specialization
financing choices
debt market conditions
financial instruments
short-term loans
long-term loans
description Khan, K. I., Qadeer, F., Mata, M. N., Dantas, R. M., Xavier Rita, J., & Martins, J. N. (2021). Debt Market Trends and Predictors of Specialization: An Analysis of Pakistani Corporate Sector. JOURNAL OF RISK AND FINANCIAL MANAGEMENT, 14(5), 1-16. [224]. https://doi.org/10.3390/jrfm14050224
publishDate 2021
dc.date.none.fl_str_mv 2021-10-12T04:52:56Z
2021-05-17
2021-05-17T00:00:00Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10362/125965
url http://hdl.handle.net/10362/125965
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv 1911-8066
PURE: 34205190
https://doi.org/10.3390/jrfm14050224
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv 16
application/pdf
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron:RCAAP
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reponame_str Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
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repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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