Firms' Aggressiveness and Respective Performance: An Empirical Study under Pakistani Scenery

The study investigates capital structure of all non-financial listed firms on Pakistan Stock Exchange (PSX) for the period of 2008 to 2014. To test the relation between firm aggressive behavior and its performance, the study uses exponential generalized least square regression by employing control variables. Levin, Hadri and ADF test are used to know the stationarity of data. Furthermore different diagnostic tests like VIF, Weisberg test for heteroskedasticity and Breusch and Pagan Lagrangian multiplier test for random effects are used to check the data normality. Results of the study reveals that financial managers’ aggressiveness regarding financial policy is negatively, while aggressiveness regarding investment policy is positively effecting the firm’s performance. The study also found that with the passage of time, firms in Pakistan have been devastating their performance. That’s why study found negative relation between firms’ age and dependent variables.

Firms' Aggressiveness and Respective Performance: An Empirical Study Under Pakistani Scenery

The study investigates capital structure of all non-financial listed firms on Pakistan Stock Exchange (PSX) for the period of 2008 to 2014. To test the relation between firm aggressive behavior and its performance, the study uses exponential generalized least square regression by employing control variables. Levin, Hadri and ADF test are used to know the stationarity of data. Furthermore different diagnostic tests like VIF, Weisberg test for heteroskedasticity and Breusch and Pagan Lagrangian multiplier test for random effects are used to check the data normality. Results of the study reveals that financial managers’ aggressiveness regarding financial policy is negatively, while aggressiveness regarding investment policy is positively effecting the firm’s performance. The study also found that with the passage of time, firms in Pakistan have been devastating their performance. That’s why study found negative relation between firms’ age and dependent variables.

Estimating the Relative Impacts of Health and Education on Economic Development in Southern Africa

This paper analysed the relative impacts of health and education on economic development in Southern Africa. A set of cross country panel data from 11 countries over the period 2005 - 2011 was used in the study. The econometric procedure adopted in the analysis followed the Breusch and Pagan Lagrangian Multiplier test and Hausman test techniques. Based on the Fixed Effects (FE) model, results show that health and education have significant positive effects on economic development; with health having a more remarkable effect on development in the region. The R-squared statistic indicates that nearly 21.79 percent total variation in economic development was accounted for by health and education during the period under review. The F(2,64) statistic (=15.45; p < 0.05) reveals significance of the model; while the interclass correlation value shows that nearly 99.53 percent of the variance was due to differences across panels.