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Volume : III, Issue : IX, October - 2013 DO THE OWNERSHIP STRUCTURE AND CORPORATE GOVERNANCE HAVE A RELATION WITH THE CAPITAL STRUCTURE? EVIDENCE FROM BUILDING AND CONSTRUCTION MATERIAL SECTOR OF PAKISTAN. AFTAB NAUMAN AZIZ , USMAN AHMAD AND MASOOD ARSHAD DOI : 10.9780/22307850, Published By : Laxmi Book Publication Abstract : Relevant study is aimed to estimate the impact of ownership structure and governance pattern on the capital adjustment. The estimations implied in this study will also suggest about governance structure in the under consideration sector. Corporate governance is a utensil which satisfies the financers of an entity that the considerable returns are being met to them, ownership structure shows the percent shares of a specific entity in the capital of the relevant sector and the capital structure captures the proportion of debt and equity financing in the total amount of assets employed. The corporate governance variables like institutional shareholding, board size, percentage of outside directors and CEO duality instead of managerial shareholding proportion has a negative relation with the debt ratio. The control variables ROA and firm size has a negative and positive relation respectively. Keywords : Article : Cite This Article : AFTAB NAUMAN AZIZ , USMAN AHMAD AND MASOOD ARSHAD, (2013). DO THE OWNERSHIP STRUCTURE AND CORPORATE GOVERNANCE HAVE A RELATION WITH THE CAPITAL STRUCTURE? EVIDENCE FROM BUILDING AND CONSTRUCTION MATERIAL SECTOR OF PAKISTAN.. Indian Streams Research Journal, Vol. III, Issue. IX, DOI : 10.9780/22307850, http://oldisrj.lbp.world/UploadedData/3156.pdf References : - Abel, E. E., and Francis, O. O. (2010). Local corporate ownership and capital structure decisions in Nigeria: a developing country perspective. Corporate Governance, 10(3) 249 – 260.
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