This research paper tests the pecking order theory of capital structure on the textile firms listed on the Karachi Stock Exchange (KSE) covering a period of six years from 2004–2009. The basic pecking order model predicts that firms follow a pecking order of financing, preferring internal...

This paper analyses the impact of preference erosion on Bangladesh’s clothing industry coming from both the ATC quotas phasing-out and the reduction on MFN tariffs under NAMA negotiations. First, it undertakes a numerical exercise to estimate the effects of tariffs reduction in the US and the...