market, firms tend to involve more short-term loans than long-term loans, which lead to the risk of refinancing their debt …

Background: This study tries to investigate how firms adjust their leverage policy across the firm’s life cycle. For … this purpose the study uses an extensive set of data of 867 A listed Chinese non-financial firms over a nineteen years … rate of leverage and its determinants in three different life stages of Chinese firms. We find that adjustment rate of …

non-financial firms in Pakistan from 2012 to 2017. Firm characteristics include market capitalization, cash holdings, book … efficiency is reported by using DEA CRS approach and results show that the year 2014 was the best year because 24% firms were … efficient and 2015 was the worst because only 18% firms were efficient. The results also show that textile, sugar, food …