This study attempts to characterise capital structure on the basis of country's economic factor, industry class, and firm-specific factors in three Asian countries, Japan, Malaysia, and Pakistan. Firm-specific factor studies include firm's growth, size, assets, composition, profitability,...

Time and again we observe the stock market movements being divorced from developments of underlying economy (real sector firms). This is similar to the dynamics in the superstructure being independent of what is happening in the underlying structure. This disparity is strong with respect to the...