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equity ratio</title> <meta name="description" content="Search results for: debt to equity ratio"> <meta name="keywords" content="debt to equity ratio"> <meta name="viewport" content="width=device-width, initial-scale=1, minimum-scale=1, maximum-scale=1, user-scalable=no"> <meta charset="utf-8"> <link href="https://cdn.waset.org/favicon.ico" type="image/x-icon" rel="shortcut icon"> <link href="https://cdn.waset.org/static/plugins/bootstrap-4.2.1/css/bootstrap.min.css" rel="stylesheet"> <link href="https://cdn.waset.org/static/plugins/fontawesome/css/all.min.css" rel="stylesheet"> <link href="https://cdn.waset.org/static/css/site.css?v=150220211555" rel="stylesheet"> </head> <body> <header> <div class="container"> <nav class="navbar navbar-expand-lg navbar-light"> <a class="navbar-brand" href="https://waset.org"> <img src="https://cdn.waset.org/static/images/wasetc.png" alt="Open Science Research Excellence" title="Open Science Research Excellence" /> </a> <button class="d-block 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action="https://publications.waset.org/abstracts/search"> <div id="custom-search-input"> <div class="input-group"> <i class="fas fa-search"></i> <input type="text" class="search-query" name="q" placeholder="Author, Title, Abstract, Keywords" value="debt to equity ratio"> <input type="submit" class="btn_search" value="Search"> </div> </div> </form> </div> </div> <div class="row mt-3"> <div class="col-sm-3"> <div class="card"> <div class="card-body"><strong>Commenced</strong> in January 2007</div> </div> </div> <div class="col-sm-3"> <div class="card"> <div class="card-body"><strong>Frequency:</strong> Monthly</div> </div> </div> <div class="col-sm-3"> <div class="card"> <div class="card-body"><strong>Edition:</strong> International</div> </div> </div> <div class="col-sm-3"> <div class="card"> <div class="card-body"><strong>Paper Count:</strong> 5176</div> </div> </div> </div> <h1 class="mt-3 mb-3 text-center" style="font-size:1.6rem;">Search results for: debt to equity ratio</h1> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5176</span> Zakat and Corporate Social Responsibility Disclosure Analysis in Increasing Its Value</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Afrizon%20Reskino">Afrizon Reskino</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The Article explores how the role of Zakat and Corporate Social Responsibility (CSR) can enhance corporate values. This research is a descriptive study which aimed to find out how the impact of Zakat and CSR disclosure towards corporate values. Sample taken in this research is the company has entered into the Jakarta Islamic Index, and it estimated to have implemented CSR and also made statements of sources and uses of Zakat taking PT. INCO, PT. Inducement and PT. Semen Gresik. The reasons for selecting of three companies are known from the data and facts every year they always provide significant CSR funds. CSR and charity both have a role and responsibility for the welfare of the peoples. This study found that in 2008, debt-to-equity ratio of PT. INCO approximately 15%. In 2009, It increased to 23%. While Debt-to-equity ratio of PT Semen Gresik increase of 3% to 4%. PT Inducement is weaken from 10% to 7%, but the average debt-to-equity ratio of the three companies has increased. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=zakat" title="zakat">zakat</a>, <a href="https://publications.waset.org/abstracts/search?q=charity" title=" charity"> charity</a>, <a href="https://publications.waset.org/abstracts/search?q=corporate%20social%20responsibility" title=" corporate social responsibility"> corporate social responsibility</a>, <a href="https://publications.waset.org/abstracts/search?q=corporate%20values" title=" corporate values"> corporate values</a> </p> <a href="https://publications.waset.org/abstracts/27590/zakat-and-corporate-social-responsibility-disclosure-analysis-in-increasing-its-value" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/27590.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">405</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5175</span> The Optimal Public Debt Ceiling in Taiwan: A Simulation Approach</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Ho%20Yuan-Hong">Ho Yuan-Hong</a>, <a href="https://publications.waset.org/abstracts/search?q=Huang%20Chiung-Ju"> Huang Chiung-Ju </a> </p> <p class="card-text"><strong>Abstract:</strong></p> This study conducts simulation analyses to find the optimal debt ceiling of Taiwan, while factoring in welfare maximization under a dynamic stochastic general equilibrium framework. The simulation is based on Taiwan's 2001 to 2011 economic data and shows that welfare is maximized at a "debt"⁄"GDP" ratio of 0.2, increases in the "debt"⁄"GDP " ratio leads to increases in both tax and interest rates and decreases in the consumption ratio and working hours. The study results indicate that the optimal debt ceiling of Taiwan is 20% of GDP, where if the "debt"⁄"GDP" ratio is greater than 40%, the welfare will be negative and result in welfare loss. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=debt%20sustainability" title="debt sustainability">debt sustainability</a>, <a href="https://publications.waset.org/abstracts/search?q=optimal%20debt%20ceiling" title=" optimal debt ceiling"> optimal debt ceiling</a>, <a href="https://publications.waset.org/abstracts/search?q=dynamic%20stochastic%20general%20equilibrium" title=" dynamic stochastic general equilibrium"> dynamic stochastic general equilibrium</a>, <a href="https://publications.waset.org/abstracts/search?q=welfare%20maximization" title=" welfare maximization"> welfare maximization</a> </p> <a href="https://publications.waset.org/abstracts/29739/the-optimal-public-debt-ceiling-in-taiwan-a-simulation-approach" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/29739.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">357</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5174</span> Convergence with IFRS: Evidence from Financial Statements</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=M.%20S.%20Turan">M. S. Turan</a>, <a href="https://publications.waset.org/abstracts/search?q=Dimple"> Dimple</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Due to implementation of IFRS by several developed and developing countries, India has no option other than to converge their accounting standards with IFRS. There are over 10,000 listed companies required to implement IFRS in India. IFRS based financial information presented by a company is different from the same information provided by Indian GAAPs. In this study, we have brought out and analyzed the effect of IFRS reporting on the financial statements of selected companies. The results reveal that convergence with IFRS brought prominent positive variations in the values of quick ratio, debt/equity ratio, proprietary ratio and net profit ratio, while negative variation is brought in the values of current ratio, debt to total assets ratio, operating profit ratio, return on capital employed and return on shareholders’ equity ratios. It also presents significant changes in the values of items of balance sheet, profit and loss account and cash flow statement. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=IFRS" title="IFRS">IFRS</a>, <a href="https://publications.waset.org/abstracts/search?q=reporting%20standards" title=" reporting standards"> reporting standards</a>, <a href="https://publications.waset.org/abstracts/search?q=convergence%20process" title=" convergence process"> convergence process</a>, <a href="https://publications.waset.org/abstracts/search?q=results" title=" results "> results </a> </p> <a href="https://publications.waset.org/abstracts/14903/convergence-with-ifrs-evidence-from-financial-statements" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/14903.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">333</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5173</span> Determinants of Dividend Payout Ratio: Evidence form MENA Region</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Abdul-Nasser%20El-Kassar">Abdul-Nasser El-Kassar</a>, <a href="https://publications.waset.org/abstracts/search?q=Walid%20Elgammal"> Walid Elgammal</a>, <a href="https://publications.waset.org/abstracts/search?q=Hisham%20Jawhar"> Hisham Jawhar</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This paper studies the determinants of the dividends payout ratio. The factors affecting the dividends payout ratio are to be identified. The study focuses only on the cement and construction industry within the MENA region in an attempt to isolate any incoherent behavior. The factors under consideration are: sales growth, ROE, ROA, ROS, debt to equity ratio, firm size, and free cash flow. Data were collected from official stock exchange markets in addition to annual reports. The study considered all firms that paid dividend in each of the three consecutive years starting from 2010 till 2012. Out of the 123 listed firms that work in cement and construction industry in MENA region, only 19 paid dividends in the three consecutive years 2010-12. Our sample consists of the 19 firms (57 observations) which are selected according to purposive sampling. Moreover, the study uses the homogeneous subcategory within the purposive sampling since only similar firms in the construction industry had been examined. The outcome of the study provides a vital insight into the determinants of dividends payout ratio of companies in MENA region. The results showed that the dividend payout ratio has a strong and positive relationship with return on assets and strong but negative relationship with return on equity. On the other hand, the results detected weak relationships between dividend payout ratio and sale growth, debt to equity ratio, firm size, and free cash flow. The study suggests that board of directors tend to compensate shareholders and minimize the agency cost by distributing a high portion of profits in form of dividends whenever return on equity decreases. Also, when the performance of the firm improves, and hence return on assets increases, boards of directors are more generous in distributing profits. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=dividends%20payout%20ratio" title="dividends payout ratio">dividends payout ratio</a>, <a href="https://publications.waset.org/abstracts/search?q=profitability%20firm%20size" title=" profitability firm size"> profitability firm size</a>, <a href="https://publications.waset.org/abstracts/search?q=free%20cashflow" title=" free cashflow"> free cashflow</a>, <a href="https://publications.waset.org/abstracts/search?q=debt%20to%20equity%20ratio" title=" debt to equity ratio"> debt to equity ratio</a> </p> <a href="https://publications.waset.org/abstracts/11135/determinants-of-dividend-payout-ratio-evidence-form-mena-region" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/11135.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">364</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5172</span> Ownership, Management Responsibility and Corporate Performance of the Listed Firms in Kazakhstan</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Gulnara%20Moldasheva">Gulnara Moldasheva</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The research explores the relationship between management responsibility and corporate governance of listed companies in Kazakhstan. This research employs firm level data of randomly selected listed non-financial firms and firm level data “operational” financial sector, consisted from banking sector, insurance companies and accumulated pension funds using multivariate regression analysis under fixed effect model approach. Ownership structure includes institutional ownership, managerial ownership and private investor’s ownership. Management responsibility of the firm is expressed by the decision of the firm on amount of leverage. Results of the cross sectional panel study for non-financial firms showed that only institutional shareholding is significantly negatively correlated with debt to equity ratio. Findings from “operational” financial sector show that leverage is significantly affected only by the CEO/Chair duality and the size of financial institutions, and insignificantly affected by ownership structure. Also, the findings show, that there is a significant negative relationship between profitability and the debt to equity ratio for non-financial firms, which is consistent with pecking order theory. Generally, the found results suggest that corporate governance and a management responsibility play important role in corporate performance of listed firms in Kazakhstan. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=ownership" title="ownership">ownership</a>, <a href="https://publications.waset.org/abstracts/search?q=corporate%20governance" title=" corporate governance"> corporate governance</a>, <a href="https://publications.waset.org/abstracts/search?q=debt%20to%20equity%20ratio" title=" debt to equity ratio"> debt to equity ratio</a>, <a href="https://publications.waset.org/abstracts/search?q=corporate%20performance" title=" corporate performance "> corporate performance </a> </p> <a href="https://publications.waset.org/abstracts/29811/ownership-management-responsibility-and-corporate-performance-of-the-listed-firms-in-kazakhstan" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/29811.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">343</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5171</span> Impact of Capital Structure, Dividend Policy and Sustainability on Value of Firm: A Case Study of Spinning Textile Sector of Pakistan</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Zahid%20Ahmad">Zahid Ahmad</a>, <a href="https://publications.waset.org/abstracts/search?q=Samia%20Yousaf"> Samia Yousaf</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The main purpose of this study is to evaluate and assess the financial position, operating performance, and recent outlook of the companies. This study investigates the impact of capital structure, dividend policy and sustainability on the value of firms of textile spinning sector of Pakistan which is listed on Pakistan stock exchange. The panel data technique has been applied to this group of textile sector which is textile spinning. This study covers the last ten years of time period. All the data related to the variables have been collected from the annual reports and financial statements of the textile sector firms. There are differently related determinants to measure the capital structure which are fixed assets turnover ratio, debt ratio, equity ratio, debt to equity ratio, assets tangibility, and shareholder’s equity. Dividend policy is being measured by two determinants which are earning per share (EPS) and dividend payout ratio. Sustainability is being measured by three suitable factors which are sales growth, gross profit margin ratio and firm size. These are three independent variables and their determinants of this study. Value of firm is measured through the return on asset (ROA). Capital structure is at the top of the list among all the three variables. According to the results of this research work, somewhere all the three variables generates positive and significant effect on the firm’s performance and its growth. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=capital%20structure" title="capital structure">capital structure</a>, <a href="https://publications.waset.org/abstracts/search?q=dividend%20policy" title=" dividend policy"> dividend policy</a>, <a href="https://publications.waset.org/abstracts/search?q=panel%20data" title=" panel data"> panel data</a>, <a href="https://publications.waset.org/abstracts/search?q=sustainability" title=" sustainability"> sustainability</a> </p> <a href="https://publications.waset.org/abstracts/79844/impact-of-capital-structure-dividend-policy-and-sustainability-on-value-of-firm-a-case-study-of-spinning-textile-sector-of-pakistan" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/79844.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">231</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5170</span> The Internationalization of Capital Market Influencing Debt Sustainability's Impact on the Growth of the Nigerian Economy</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Godwin%20Chigozie%20Okpara">Godwin Chigozie Okpara</a>, <a href="https://publications.waset.org/abstracts/search?q=Eugine%20Iheanacho"> Eugine Iheanacho</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The paper set out to assess the sustainability of debt in the Nigerian economy. Precisely, it sought to determine the level of debt sustainability and its impact on the growth of the economy; whether internationalization of capital market has positively influenced debt sustainability’s impact on economic growth; and to ascertain the direction of causality between external debt sustainability and the growth of GDP. In the light of these objectives, ratio analysis was employed for the determination of debt sustainability. Our findings revealed that the periods 1986 – 1994 and 1999 – 2004 were periods of severe unsustainable borrowing. The unit root test showed that the variables of the growth model were integrated of order one, I(1) and the cointegration test provided evidence for long run stability. Considering the dawn of internationalization of capital market, the researcher employed the structural break approach using Chow Breakpoint test on the vector error correction model (VECM). The result of VECM showed that debt sustainability, measured by debt to GDP ratio exerts negative and significant impact on the growth of the economy while debt burden measured by debt-export ratio and debt service export ratio are negative though insignificant on the growth of GDP. The Cho test result indicated that internationalization of capital market has no significant effect on the debt overhang impact on the growth of the Economy. The granger causality test indicates a feedback effect from economic growth to debt sustainability growth indicators. On the bases of these findings, the researchers made some necessary recommendations which if followed religiously will go a long way to ameliorating debt burdens and engendering economic growth. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=debt%20sustainability" title="debt sustainability">debt sustainability</a>, <a href="https://publications.waset.org/abstracts/search?q=internalization" title=" internalization"> internalization</a>, <a href="https://publications.waset.org/abstracts/search?q=capital%20market" title=" capital market"> capital market</a>, <a href="https://publications.waset.org/abstracts/search?q=cointegration" title=" cointegration"> cointegration</a>, <a href="https://publications.waset.org/abstracts/search?q=chow%20test" title=" chow test"> chow test</a> </p> <a href="https://publications.waset.org/abstracts/42376/the-internationalization-of-capital-market-influencing-debt-sustainabilitys-impact-on-the-growth-of-the-nigerian-economy" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/42376.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">437</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5169</span> The Sustainability of Public Debt in Taiwan</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Chiung-Ju%20Huang">Chiung-Ju Huang</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This study examines whether the Taiwan’s public debt is sustainable utilizing an unrestricted two-regime threshold autoregressive (TAR) model with an autoregressive unit root. The empirical results show that Taiwan’s public debt appears as a nonlinear series and is stationary in regime 1 but not in regime 2. This result implies that while Taiwan’s public debt was mostly sustainable over the 1996 to 2013 period examined in the study, it may no longer be sustainable in the most recent two years as the public debt ratio has increased cumulatively to 3.618%. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=nonlinearity" title="nonlinearity">nonlinearity</a>, <a href="https://publications.waset.org/abstracts/search?q=public%20debt" title=" public debt"> public debt</a>, <a href="https://publications.waset.org/abstracts/search?q=sustainability" title=" sustainability"> sustainability</a>, <a href="https://publications.waset.org/abstracts/search?q=threshold%20autoregressive%20model" title=" threshold autoregressive model"> threshold autoregressive model</a> </p> <a href="https://publications.waset.org/abstracts/10069/the-sustainability-of-public-debt-in-taiwan" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/10069.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">448</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5168</span> Corporate Performance and Balance Sheet Indicators: Evidence from Indian Manufacturing Companies</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Hussain%20Bohra">Hussain Bohra</a>, <a href="https://publications.waset.org/abstracts/search?q=Pradyuman%20Sharma"> Pradyuman Sharma</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This study highlights the significance of Balance Sheet Indicators on the corporate performance in the case of Indian manufacturing companies. Balance sheet indicators show the actual financial health of the company and it helps to the external investors to choose the right company for their investment and it also help to external financing agency to give easy finance to the manufacturing companies. The period of study is 2000 to 2014 for 813 manufacturing companies for which the continuous data is available throughout the study period. The data is collected from PROWESS data base maintained by Centre for Monitoring Indian Economy Pvt. Ltd. Panel data methods like fixed effect and random effect methods are used for the analysis. The Likelihood Ratio test, Lagrange Multiplier test and Hausman test results proof the suitability of the fixed effect model for the estimation. Return on assets (ROA) is used as the proxy to measure corporate performance. ROA is the best proxy to measure corporate performance as it already used by the most of the authors who worked on the corporate performance. ROA shows return on long term investment projects of firms. Different ratios like Current Ratio, Debt-equity ratio, Receivable turnover ratio, solvency ratio have been used as the proxies for the Balance Sheet Indicators. Other firm specific variable like firm size, and sales as the control variables in the model. From the empirical analysis, it was found that all selected financial ratios have significant and positive impact on the corporate performance. Firm sales and firm size also found significant and positive impact on the corporate performance. To check the robustness of results, the sample was divided on the basis of different ratio like firm having high debt equity ratio and low debt equity ratio, firms having high current ratio and low current ratio, firms having high receivable turnover and low receivable ratio and solvency ratio in the form of firms having high solving ratio and low solvency ratio. We find that the results are robust to all types of companies having different form of selected balance sheet indicators ratio. The results for other variables are also in the same line as for the whole sample. These findings confirm that Balance sheet indicators play as significant role on the corporate performance in India. The findings of this study have the implications for the corporate managers to focus different ratio to maintain the minimum expected level of performance. Apart from that, they should also maintain adequate sales and total assets to improve corporate performance. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=balance%20sheet" title="balance sheet">balance sheet</a>, <a href="https://publications.waset.org/abstracts/search?q=corporate%20performance" title=" corporate performance"> corporate performance</a>, <a href="https://publications.waset.org/abstracts/search?q=current%20ratio" title=" current ratio"> current ratio</a>, <a href="https://publications.waset.org/abstracts/search?q=panel%20data%20method" title=" panel data method"> panel data method</a> </p> <a href="https://publications.waset.org/abstracts/61796/corporate-performance-and-balance-sheet-indicators-evidence-from-indian-manufacturing-companies" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/61796.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">264</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5167</span> Convertible Lease, Risky Debt and Financial Structure with Growth Option</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Ons%20Triki">Ons Triki</a>, <a href="https://publications.waset.org/abstracts/search?q=Fathi%20Abid"> Fathi Abid</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The basic objective of this paper is twofold. It resides in designing a model for a contingent convertible lease contract that can ensure the financial stability of a company and recover the losses of the parties to the lease in the event of default. It also aims to compare the convertible lease contract on inefficiencies resulting from the debt-overhang problem and asset substitution with other financing policies. From this perspective, this paper highlights the interaction between investments and financing policies in a dynamic model with existing assets and a growth option where the investment cost is financed by a contingent convertible lease and equity. We explore the impact of the contingent convertible lease on the capital structure. We also check the reliability and effectiveness of the use of the convertible lease contract as a means of financing. Findings show that the rental convertible contract with a sufficiently high conversion ratio has less severe inefficiencies arising from risk-shifting and debt overhang than those entailed by risky debt and pure-equity financing. The problem of underinvestment pointed out by Mauer and Ott (2000) and the problem of overinvestment mentioned by Hackbarth and Mauer (2012) may be reduced under contingent convertible lease financing. Our findings predict that the firm value under contingent convertible lease financing increases globally with asset volatility instead of decreasing with business risk. The study reveals that convertible leasing contracts can stand for a reliable solution to ensure the lessee and quickly recover the counterparties of the lease upon default. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=contingent%20convertible%20lease" title="contingent convertible lease">contingent convertible lease</a>, <a href="https://publications.waset.org/abstracts/search?q=growth%20option" title=" growth option"> growth option</a>, <a href="https://publications.waset.org/abstracts/search?q=debt%20overhang" title=" debt overhang"> debt overhang</a>, <a href="https://publications.waset.org/abstracts/search?q=risk-shifting" title=" risk-shifting"> risk-shifting</a>, <a href="https://publications.waset.org/abstracts/search?q=capital%20structure" title=" capital structure"> capital structure</a> </p> <a href="https://publications.waset.org/abstracts/161279/convertible-lease-risky-debt-and-financial-structure-with-growth-option" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/161279.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">72</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5166</span> Debts and Debt-Based Sukuk Related to Risk Shifting Behavior</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Siti%20Raihana%20Hamzah">Siti Raihana Hamzah</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This paper elaborates risk shifting in debt financing system as the ultimate cause of the global financial crisis. In contrast, risk sharing in equity financing like sukuk helps the economic system to be better sustained. Nevertheless, some types of sukuk are haunted by the issue of imitation with bonds. The critics on the imitation issue not only have raised doubt on the ability of sukuk to diminish risk shifting behavior but also the ability of this Islamic financial instrument to ensure better future financial stability. Through that, this paper provides discussion on the possibility of sukuk to induce risk shifting and how equity financing may help sukuk to be free from risk shifting. This paper is important in the sense that sukuk receives a significant demand from investors throughout the world. For this instrument to be supportive in the future economic stability, the issue of imitation needs to be identified and addressed. Furthermore, critics cannot be focused on debts and its ability to gauge the financial flux but also to sukuk due to their structures similarity. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=global%20financial%20crisis" title="global financial crisis">global financial crisis</a>, <a href="https://publications.waset.org/abstracts/search?q=debt" title=" debt"> debt</a>, <a href="https://publications.waset.org/abstracts/search?q=risk-shifting" title=" risk-shifting"> risk-shifting</a>, <a href="https://publications.waset.org/abstracts/search?q=risk%20sharing" title=" risk sharing"> risk sharing</a>, <a href="https://publications.waset.org/abstracts/search?q=equity" title=" equity"> equity</a>, <a href="https://publications.waset.org/abstracts/search?q=sukuk" title=" sukuk"> sukuk</a>, <a href="https://publications.waset.org/abstracts/search?q=bonds" title=" bonds"> bonds</a> </p> <a href="https://publications.waset.org/abstracts/47238/debts-and-debt-based-sukuk-related-to-risk-shifting-behavior" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/47238.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">386</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5165</span> Interest Charges and Sustainability Challenges: The Case of OECD Countries</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Aime%20Philombe%20Zapji%20Ymele">Aime Philombe Zapji Ymele</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Servicing public debt is a significant budgetary burden. In the sense that the payment of interest charges is a liability on the balance sheet of the public budget and affects fiscal policy. Interest charges can sometimes become a burden if they crowd out private activities. In order to analyse and understand the determinants of the debt burden and its impact on the sustainability of public finances, the present work focuses on OECD countries. It is noted from the literature that the factors that determine interest charges are macroeconomic (inflation, GDP growth, and interest rates) and public finances (primary balance and public debt). After analysing a panel of 33 OECD countries and using ordinary least squares (OLS), we find that public debt, inflation, and long-term interest rates are positively correlated with interest charges. An increase in any of these variables leads to an increase in debt charges. On the other hand, a growth in GDP is negatively associated with interest charges. Indeed, an increase in GDP generates enough revenue to meet the repayment of debt charges. According to the empirical analysis, we can say that, despite the large and growing debt-to-GDP ratio of major OECD countries, interest charges are not a threat to the sustainability of public finances. However, it is important for these countries to reduce the ratio of public debt to GDP because, in the face of the many challenges (health, aging population, etc.) that are looming on the horizon, an increase in interest rates could bring with it considerable burdens that would threaten the budgetary balance of these states. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=interest%20charges" title="interest charges">interest charges</a>, <a href="https://publications.waset.org/abstracts/search?q=sustainability" title=" sustainability"> sustainability</a>, <a href="https://publications.waset.org/abstracts/search?q=public%20debt" title=" public debt"> public debt</a>, <a href="https://publications.waset.org/abstracts/search?q=interest%20rates" title=" interest rates"> interest rates</a> </p> <a href="https://publications.waset.org/abstracts/147075/interest-charges-and-sustainability-challenges-the-case-of-oecd-countries" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/147075.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">123</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5164</span> Interest Charges and Sustainability Challenges: The Case of OECD Countries</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Zapji%20Ymele%20Aime%20Philombe">Zapji Ymele Aime Philombe</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Servicing public debt is a significant budgetary burden in the sense that the payment of interest charges is a liability on the balance sheet of the public budget and affects fiscal policy. Interest charges can sometimes become a burden if they crowd out private activities. In order to analyse and understand the determinants of the debt burden and its impact on the sustainability of public finances, the present work focuses on OECD countries. It is noted from the literature that the factors that determine interest charges are macroeconomic (inflation, GDP growth and interest rates) and public finances (primary balance and public debt). After analysing a panel of 33 OECD countries and using ordinary least squares (OLS), we find that public debt, inflation and long-term interest rates are positively correlated with interest charges. An increase in any of these variables leads to an increase in debt charges. On the other hand, a growth in GDP is negatively associated with interest charges. Indeed, an increase in GDP generates enough revenue to meet the repayment of debt charges. According to the empirical analysis, we can say that, despite the large and growing debt-to-GDP ratio of major OECD countries, interest charges are not a threat to the sustainability of public finances. However, it is important for these countries to reduce the ratio of public debt to GDP because, in the face of the many challenges (health, aging population, etc.) that are looming on the horizon, an increase in interest rates could bring with it considerable burdens that would threaten the budgetary balance of these states. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=interests%20charges" title="interests charges">interests charges</a>, <a href="https://publications.waset.org/abstracts/search?q=public%20debt" title=" public debt"> public debt</a>, <a href="https://publications.waset.org/abstracts/search?q=sustainability" title=" sustainability"> sustainability</a>, <a href="https://publications.waset.org/abstracts/search?q=interest%20rates" title=" interest rates"> interest rates</a> </p> <a href="https://publications.waset.org/abstracts/143275/interest-charges-and-sustainability-challenges-the-case-of-oecd-countries" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/143275.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">121</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5163</span> Usage of Military Spending, Debt Servicing and Growth for Dealing with Emergency Plan of Indian External Debt</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Sahbi%20Farhani">Sahbi Farhani</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This study investigates the relationship between external debt and military spending in case of India over the period of 1970–2012. In doing so, we have applied the structural break unit root tests to examine stationarity properties of the variables. The Auto-Regressive Distributed Lag (ARDL) bounds testing approach is used to test whether cointegration exists in presence of structural breaks stemming in the series. Our results indicate the cointegration among external debt, military spending, debt servicing, and economic growth. Moreover, military spending and debt servicing add in external debt. Economic growth helps in lowering external debt. The Vector Error Correction Model (VECM) analysis and Granger causality test reveal that military spending and economic growth cause external debt. The feedback effect also exists between external debt and debt servicing in case of India. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=external%20debt" title="external debt">external debt</a>, <a href="https://publications.waset.org/abstracts/search?q=military%20spending" title=" military spending"> military spending</a>, <a href="https://publications.waset.org/abstracts/search?q=ARDL%20approach" title=" ARDL approach"> ARDL approach</a>, <a href="https://publications.waset.org/abstracts/search?q=India" title=" India"> India</a> </p> <a href="https://publications.waset.org/abstracts/47057/usage-of-military-spending-debt-servicing-and-growth-for-dealing-with-emergency-plan-of-indian-external-debt" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/47057.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">295</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5162</span> Financing Innovation: Differences across National Innovation Systems </h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=N%C3%BAria%20Arimany%20Serrat">Núria Arimany Serrat</a>, <a href="https://publications.waset.org/abstracts/search?q=Xavier%20Ferr%C3%A0s%20Hern%C3%A1ndez"> Xavier Ferràs Hernández</a>, <a href="https://publications.waset.org/abstracts/search?q=Petra%20A.%20Nylund"> Petra A. Nylund</a>, <a href="https://publications.waset.org/abstracts/search?q=Eric%20Viardot"> Eric Viardot</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Innovation is an increasingly important antecedent to firm competitiveness and growth. Successful innovation, however, requires a significant financial commitment and the means of financing accessible to the firm may affect its ability to innovate. The access to equity financing such as venture capital has been connected to innovativeness for young firms. For established enterprises, debt financing of innovation may be a more realistic option. Continuous innovation and growth would otherwise require a constant increase of equity. We, therefore, investigate the relation between debt financing and innovation for large firms and hypothesize that those firms that carry more debt will be more innovative. The need for debt financing of innovation may be reduced for very profitable firms, which can finance innovation with cash flow. We thus hypothesize a moderating effect of profitability on the relationship between debt financing and innovation. We carry out an empirical investigation using a longitudinal data set including 167 large European firms over five years, resulting in 835 firm years. We apply generalized least squares (GLS) regression with fixed firm effects to control for firm heterogeneity. The findings support our hypotheses and we conclude that access to debt finding is an important antecedent of innovation, with profitability as a moderating factor. The results do however differ across national innovation systems and we find a strong relationship for British, Dutch, French, and Italian firms but not for German and Spanish entities. We discuss differences in the national systems of innovation and financing which contextualize the variations in the findings and thus make a nuanced contribution to the research in innovation financing. The cross-country differences calls for differentiated advice to managers, institutions, and researchers depending on the national context. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=innovation" title="innovation">innovation</a>, <a href="https://publications.waset.org/abstracts/search?q=R%26D" title=" R&D"> R&D</a>, <a href="https://publications.waset.org/abstracts/search?q=national%20innovation%20systems" title=" national innovation systems"> national innovation systems</a>, <a href="https://publications.waset.org/abstracts/search?q=financing" title=" financing"> financing</a> </p> <a href="https://publications.waset.org/abstracts/20581/financing-innovation-differences-across-national-innovation-systems" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/20581.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">531</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5161</span> The Determinants of Financial Stability: Evidence from Jordan</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Wasfi%20Al%20Salamat">Wasfi Al Salamat</a>, <a href="https://publications.waset.org/abstracts/search?q=Shaker%20Al-Kharouf"> Shaker Al-Kharouf</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This study aims to examine the determinants of financial stability for 13 commercial banks listed on the Amman stock exchange (ASE) over the period (2007-2016) after controlling for the independent variables: return on equity (ROE), return on assets (ROA), earnings per share (EPS), growth in gross domestic product (GDP), inflation rate and debt ratio to measure the financial stability by three main variables: capital adequacy, non-performing loans and the number of returned checks. The balanced panel data statistical approach has been used for data analysis. Results are estimated by using multiple regression models. The empirical results suggested that there is statistically significant negative effect of inflation rate and debt ratio on the capital adequacy while there is statistically significant positive effect of growth in gross domestic product on capital adequacy. In contrast, there is statistically significant negative effect of return on equity and growth in gross domestic product on the non-performing loans while there is statistically significant positive effect of inflation rate on non-performing loans. Finally, there is statistically significant negative effect of growth in gross domestic product on the number of returned checks while there is statistically significant positive effect of inflation rate on the number of returned checks. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=capital%20adequacy" title="capital adequacy">capital adequacy</a>, <a href="https://publications.waset.org/abstracts/search?q=financial%20stability" title=" financial stability"> financial stability</a>, <a href="https://publications.waset.org/abstracts/search?q=non-performing%20loans" title=" non-performing loans"> non-performing loans</a>, <a href="https://publications.waset.org/abstracts/search?q=number%20of%20returned%20checks" title=" number of returned checks"> number of returned checks</a>, <a href="https://publications.waset.org/abstracts/search?q=ASE" title=" ASE"> ASE</a> </p> <a href="https://publications.waset.org/abstracts/107247/the-determinants-of-financial-stability-evidence-from-jordan" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/107247.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">224</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5160</span> Debt Relief for Emerging Economies: An Empirical Investigation</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Hummad%20Ch.%20Umar">Hummad Ch. Umar </a> </p> <p class="card-text"><strong>Abstract:</strong></p> Most of the developing economies, including Pakistan, are confronted with high level of external debt which is adversely affecting their economic performance. The hypothesis of debt overhang is often used to assess the negative relationship between foreign debt and the economic growth of the indebted country. As first objective of the present study, this hypothesis is tested by using Pooled OLS (POLS), Generalized Method of Moment (GMM), Random Effect (RE), and Fixed effect (FE) techniques. As second objective, the study uses the concept of debt Laffer Curve to determine the eligibility condition of the indebted countries for the relief programs. According to this approach, countries lying on the right side of the Laffer Curve are stated to be trapped in the strong debt overhang making them unable to come out of the vicious circle of low growth and high foreign debt. The empirical analysis confirms that only two countries out of twenty two completely fulfill the conditions of being eligible for the debt relief. All other countries continue to face debt burden of different magnitudes. The study further confirms that the debt relief alone is not sufficient for overcoming the debt problem. Instead, sound economic policies and conducive investment decisions are required to lay the foundations of long-term growth and development. Debt relief should be the option for only those countries that meet a minimum measurable criterion of good governance, economic freedom, and consistency of policies. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=external%20debt" title="external debt">external debt</a>, <a href="https://publications.waset.org/abstracts/search?q=debt%20burden" title=" debt burden"> debt burden</a>, <a href="https://publications.waset.org/abstracts/search?q=debt%20overhang" title=" debt overhang"> debt overhang</a>, <a href="https://publications.waset.org/abstracts/search?q=debt%20laffer%20curve" title=" debt laffer curve"> debt laffer curve</a>, <a href="https://publications.waset.org/abstracts/search?q=debt%20relief" title=" debt relief"> debt relief</a>, <a href="https://publications.waset.org/abstracts/search?q=investment%20decisions" title=" investment decisions"> investment decisions</a> </p> <a href="https://publications.waset.org/abstracts/38102/debt-relief-for-emerging-economies-an-empirical-investigation" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/38102.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">326</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5159</span> Determinants of Financial Performance of South African Businesses in Africa: Evidence from JSE Listed Telecommunications Companies</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Nomakhosi%20Tshuma">Nomakhosi Tshuma</a>, <a href="https://publications.waset.org/abstracts/search?q=Carley%20Chetty"> Carley Chetty</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This study employed panel regression analysis to investigate the financial performance determinants of MTN and Vodacom’s rest of Africa businesses between 2012 to 2020. It used net profit margin, return on assets (ROA), and return on equity (ROE) as financial performance proxies. Financial performance determinants investigated were asset size, debt ratio, liquidity, number of subscribers, and exchange rate. Data relating to exchange rates were obtained from the World Bank website, while financial data and subscriber information were obtained from the companies’ audited financial statements. The study found statistically significant negative relationships between debt and both ROA and net profit, exchange rate and both ROA and net profit, and subscribers and ROE. It also found significant positive relationships between ROE and both asset size and exchange rate. The study recommends strategic options that optimise on the above findings, and these include infrastructure sharing to reduce infrastructure costs and the minimisation of foreign-denominated debt. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=financial%20performance" title="financial performance">financial performance</a>, <a href="https://publications.waset.org/abstracts/search?q=determinants%20of%20financial%20performance" title=" determinants of financial performance"> determinants of financial performance</a>, <a href="https://publications.waset.org/abstracts/search?q=business%20in%20Africa" title=" business in Africa"> business in Africa</a>, <a href="https://publications.waset.org/abstracts/search?q=telecommunications%20industry" title=" telecommunications industry"> telecommunications industry</a> </p> <a href="https://publications.waset.org/abstracts/150135/determinants-of-financial-performance-of-south-african-businesses-in-africa-evidence-from-jse-listed-telecommunications-companies" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/150135.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">99</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5158</span> A Dynamic Panel Model to Evaluate the Impact of Debt Relief on Poverty</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Loujaina%20Abdelwahed">Loujaina Abdelwahed</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Debt relief granted to low-and middle-income countries effectively provides additional funds for governments that can be used to increase public investment on poverty-reducing services to alleviate poverty and boost economic growth. However, little is known about the extent to which the poor benefit from the increased public investment. This study aims to assess the impact of debt relief granted through multiple initiatives during the 1990s on poverty reduction. In particular, it assesses the impact on the level, depth and severity of poverty in 76 low-and middle income countries over the period 1990-2011. Debt relief is found to have a significant impact on reducing the level, the depth and the severity of poverty. Analysis of the different types of debt relief reveals that debt service relief reduces poverty, whereas debt principle relief does not have a significant impact. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=debt%20relief" title="debt relief">debt relief</a>, <a href="https://publications.waset.org/abstracts/search?q=developing%20countries" title=" developing countries"> developing countries</a>, <a href="https://publications.waset.org/abstracts/search?q=HIPC" title=" HIPC"> HIPC</a>, <a href="https://publications.waset.org/abstracts/search?q=poverty" title=" poverty"> poverty</a>, <a href="https://publications.waset.org/abstracts/search?q=system%20GMM%20estimator" title=" system GMM estimator"> system GMM estimator</a> </p> <a href="https://publications.waset.org/abstracts/48907/a-dynamic-panel-model-to-evaluate-the-impact-of-debt-relief-on-poverty" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/48907.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">398</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5157</span> Methods of Categorizing Architectural Technical Debt</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Blessing%20Igbadumhe">Blessing Igbadumhe</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The continuous long- and short-term delivery of value to customers continues to be the overarching objective of software organizations. Software engineering professionals and organizations face challenges in the maintenance and evolution of software as a result of architectural, technical debt. The issues of architectural, technical debt continue to receive a significant amount of attention because of its important impact on successful system implementation. The cost of doing nothing as far as architectural, technical debt is concerned can be significant both in financial terms and impacts on customers. Different architectural, technical debt issues exist, and this qualitative research design reviewed existing literature on the subject to identify and categorize them. This research intends to contribute to the existing bludgeoning body of knowledge on categorizations and descriptive model of technical debt related issues related to system architecture. The results identify the most common characteristics of architectural and technical debt categories. Raising awareness of the intricacies of architectural and technical debt helps technology stakeholders reduce negative consequences and increase the system success rate. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=architecture" title="architecture">architecture</a>, <a href="https://publications.waset.org/abstracts/search?q=categorizing%20TD" title=" categorizing TD"> categorizing TD</a>, <a href="https://publications.waset.org/abstracts/search?q=system%20design" title=" system design"> system design</a>, <a href="https://publications.waset.org/abstracts/search?q=technical%20debt" title=" technical debt"> technical debt</a> </p> <a href="https://publications.waset.org/abstracts/161734/methods-of-categorizing-architectural-technical-debt" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/161734.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">91</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5156</span> The Third World Debt Burden and the Implication for Economic Development</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Odeh%20Ibn%20Iganga">Odeh Ibn Iganga</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The issue of foreign debt, debt crisis or the concept of Third World debt burden generally gained prominence after the end of the cold war which pitched the United States and the former Soviet Union against each other in an ideological supremacy tussle. Before then however, Third World Countries (TWCs) enjoyed a relative economic resilience and stability and ostensibly friendly relations with the leaders of the polarized blocks in a way to garner supports for, and as an instrument of strengthening and expanding influence and power of the leaders of the two blocs, and achieve their goals. Consequently, the Third World concept lost its political relevance and usage perhaps, too, its economic comportment, and eventually became phraseology synonymous with developing countries bedeviled with debt crisis and struggling to emerge from debt burden, economic underdevelopment and poverty. Since then, also, particularly during the last two decades, the issue of Third World debt burden, which is currently posing significant problems, has a considerable attracted public policy and academic scrutiny. Third World debt burden thus is not a recent phenomenon but is a result of, and due to, pursuance of foreign aid from countries of the North which had, from the start, created the condition of economic subservience and master-servant relationship that could generate persistent seeking and lobbing for foreign aids through borrowing, thus tying down in a perpetual manner, most of the Third World Countries to underdevelopment, dependency and poverty. The interest of this paper, therefore, is to examine the causes, costs and or the implications of the debt burden on the economies of the Third World Countries, review some general solutions to the debt burden as well as offering suggestions as a way out of the doldrums. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=third%20world" title="third world">third world</a>, <a href="https://publications.waset.org/abstracts/search?q=debt%20burden" title=" debt burden"> debt burden</a>, <a href="https://publications.waset.org/abstracts/search?q=debt%20crisis" title=" debt crisis"> debt crisis</a>, <a href="https://publications.waset.org/abstracts/search?q=economic%20development%20and%20underdevelopment" title=" economic development and underdevelopment"> economic development and underdevelopment</a> </p> <a href="https://publications.waset.org/abstracts/35314/the-third-world-debt-burden-and-the-implication-for-economic-development" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/35314.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">357</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5155</span> Fiscal Stability Indicators and Public Debt Trajectory in Croatia</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Hrvoje%20Simovic">Hrvoje Simovic</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Paper analyses the key problems of fiscal sustainability in Croatia. To point out key challenges of fiscal sustainability, the public debt sustainability is analyzed using standard indicators of fiscal stability, accompanied with the identification of regime changes approach in the public debt trajectory using switching regression approach. The analysis is conducted for the period from 2001 to 2016. Results show huge vulnerability in recession period (2009-14), so key challenges in current fiscal policy and public debt management are recognized in maturity prolongation, interest rates trends, and credit rating expectations. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=fiscal%20sustainability" title="fiscal sustainability">fiscal sustainability</a>, <a href="https://publications.waset.org/abstracts/search?q=public%20debt" title=" public debt"> public debt</a>, <a href="https://publications.waset.org/abstracts/search?q=Croatia" title=" Croatia"> Croatia</a>, <a href="https://publications.waset.org/abstracts/search?q=budget%20deficit" title=" budget deficit"> budget deficit</a> </p> <a href="https://publications.waset.org/abstracts/87621/fiscal-stability-indicators-and-public-debt-trajectory-in-croatia" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/87621.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">260</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5154</span> Foreign Debt and Firm Performance: Evidence from French Non-Financial Firms</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Salma%20Mefteh-Wali">Salma Mefteh-Wali</a>, <a href="https://publications.waset.org/abstracts/search?q=Marie-Josephe%20Rigobert"> Marie-Josephe Rigobert</a> </p> <p class="card-text"><strong>Abstract:</strong></p> We investigate the impact of foreign currency debt on firm performance for a sample of non-financial French firms studied over the period 2002 to 2012. As foreign currency debt is both a financing and hedging instrument against foreign exchange risk, we mobilize optimal hedging theory and capital structure theory. When we study the impact on firm value, our main results show that before and after the financial crisis of 2008, foreign debt had the same behavior as domestic debt. We find that during the crisis period, foreign debt positively affects firm value. Investors perceive foreign debt as a natural hedging instrument that is likely to reduce the costs of underinvestment, alleviate cash flow volatility, limit the costs of financial distress, and generate tax shield benefits. Also, our results show that foreign leverage negatively affects the firm performance proxied by ROA and ROE, during and after the financial crisis. However, this impact is positive in the pre-crisis period. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=foreign%20currency%20derivatives" title="foreign currency derivatives">foreign currency derivatives</a>, <a href="https://publications.waset.org/abstracts/search?q=foreign%20currency%20debt" title=" foreign currency debt"> foreign currency debt</a>, <a href="https://publications.waset.org/abstracts/search?q=foreign%20currency%20hedging" title=" foreign currency hedging"> foreign currency hedging</a>, <a href="https://publications.waset.org/abstracts/search?q=firm%20performance" title=" firm performance"> firm performance</a> </p> <a href="https://publications.waset.org/abstracts/64691/foreign-debt-and-firm-performance-evidence-from-french-non-financial-firms" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/64691.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">310</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5153</span> A Critical Knowledge of Brand Equity in Thai Academic Works</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Pongsiri%20Kamkankaew">Pongsiri Kamkankaew</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This paper experiments to consider brand equity thought in Thai academic works. This essay employs that the first emerging of brand equity in Thai academic works and the components of brand equity which explore the extent to the convoluted approach with other Thai social condition. In Thailand, brand equity is supposed to provide branding and brand management replacement. However, the commitment of brand equity imposes in its proposal for seemly application in Thai context – to develop the brand equity framework by the Thai social – culture and Thai utilization style which it is questionable whether the brand equity in western conception is useful for characterizing the brand equity in Thailand context. In this position, brand equity also aspects several major questions: How can western conception lead to apply in Thai business? How can diversification be given within Thai SMEs business running? Can corporate brand valuation approach adopt in real business doing? So this paper argues that Thai brand equity notion should reduce disturb over improvement of its self-restraint and business area. Instead, Thai academic who are interested in brand equity can harmonize different mature bodies of discipline and other investigative a frame of references to complete and open the recognizing of brand equity. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=Thai%20brand%20equity" title="Thai brand equity">Thai brand equity</a>, <a href="https://publications.waset.org/abstracts/search?q=knowledge%20critical" title=" knowledge critical"> knowledge critical</a>, <a href="https://publications.waset.org/abstracts/search?q=brand%20management" title=" brand management"> brand management</a>, <a href="https://publications.waset.org/abstracts/search?q=branding" title=" branding"> branding</a> </p> <a href="https://publications.waset.org/abstracts/55534/a-critical-knowledge-of-brand-equity-in-thai-academic-works" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/55534.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">324</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5152</span> Political Regimes, Political Stability and Debt Dependence in African Countries of Franc Zone: A Logistic Modeling</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Nounamo%20Nguedie%20Yann%20Harold">Nounamo Nguedie Yann Harold</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The factors behind the debt have been the subject of several studies in the literature. Pioneering studies based on the 'double deficit' approach linked indebtedness to the imbalance between savings and investment, the budget deficit and the current account deficit. Most studies on identifying factors that may stimulate or reduce the level of external public debt agree that the following variables are important explanatory variables in leveraging debt: the budget deficit, trade opening, current account and exchange rate, import, export, interest rate, term variation exchange rate, economic growth rate and debt service, capital flight, and over-indebtedness. Few studies addressed the impact of political factors on the level of external debt. In general, however, the IMF's stabilization programs in developing countries following the debt crisis have resulted in economic recession and the advent of political crises that have resulted in changes in governments. In this sense, political institutions are recognised as factors of accumulation of external debt in most developing countries. This paper assesses the role of political factors on the external debt level of African countries in the Franc Zone over the period 1985-2016. Data used come from World Bank and ICRG. Using a logit in panel, the results show that the more a country is politically stable, the lower the external debt compared to the gross domestic product. Political stability multiplies 1.18% the chances of being in the sustainable debt zone. For example, countries with good political institutions experience less severe external debt burdens than countries with bad political institutions. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=African%20countries" title="African countries">African countries</a>, <a href="https://publications.waset.org/abstracts/search?q=external%20debt" title=" external debt"> external debt</a>, <a href="https://publications.waset.org/abstracts/search?q=Franc%20Zone" title=" Franc Zone"> Franc Zone</a>, <a href="https://publications.waset.org/abstracts/search?q=political%20factors" title=" political factors"> political factors</a> </p> <a href="https://publications.waset.org/abstracts/86865/political-regimes-political-stability-and-debt-dependence-in-african-countries-of-franc-zone-a-logistic-modeling" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/86865.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">219</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5151</span> Time Variance and Spillover Effects between International Crude Oil Price and Ten Emerging Equity Markets</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Murad%20A.%20Bein">Murad A. Bein</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This paper empirically examines the time-varying relationship and spillover effects between the international crude oil price and ten emerging equity markets, namely three oil-exporting countries (Brazil, Mexico, and Russia) and seven Central and Eastern European (CEE) countries (Bulgaria, Croatia, Czech Republic, Hungary, Poland, Romania, and Slovakia). The results revealed that there are spillover effects from oil markets into almost all emerging equity markets save Slovakia. Besides, the oil supply glut had a homogenous effect on the emerging markets, both net oil-exporting, and oil-importing countries (CEE). Further, the time variance drastically increased during financial turmoil. Indeed, the time variance remained high from 2009 to 2012 in response to aggregate demand shocks (global financial crisis and Eurozone debt crisis) and quantitative easing measures. Interestingly, the time variance was slightly higher for the oil-exporting countries than for some of the CEE countries. Decision-makers in emerging economies should therefore seek policy coordination when dealing with financial turmoil. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=crude%20oil" title="crude oil">crude oil</a>, <a href="https://publications.waset.org/abstracts/search?q=spillover%20effects" title=" spillover effects"> spillover effects</a>, <a href="https://publications.waset.org/abstracts/search?q=emerging%20equity" title=" emerging equity"> emerging equity</a>, <a href="https://publications.waset.org/abstracts/search?q=time-varying" title=" time-varying"> time-varying</a>, <a href="https://publications.waset.org/abstracts/search?q=aggregate%20demand%20shock" title=" aggregate demand shock"> aggregate demand shock</a> </p> <a href="https://publications.waset.org/abstracts/149809/time-variance-and-spillover-effects-between-international-crude-oil-price-and-ten-emerging-equity-markets" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/149809.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">124</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5150</span> The Impact of Fiscal Policy on Gross Domestic Product under Contributions of Level of External Debt in Developing Countries</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Zohreh%20Bang%20Tavakoli">Zohreh Bang Tavakoli</a>, <a href="https://publications.waset.org/abstracts/search?q=Shuktika%20Chatterjee"> Shuktika Chatterjee</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This study investigates the fiscal policy impact on countries’ economic growth in developing countries with a different external debt level. The fiscal policy effectiveness has been re-emphasized in the global financial crisis of 2008 with the external debt as its new contemporary driver (Ruščáková and Semančíková, 2016). According to Bouakez, (2014 ) different theories have proposed the economic consequence of fiscal policy, specifically for developing countries. However, fiscal policy literature is lacking research regarding the fiscal policy’s effectiveness with the external debt’s contributions through comprehensive study (Canh, 2018). Also, according to scholars, high levels of external debt will influence economic growth. First, through foreign resources and channel of investment in which high level of debt decreases the amount of foreign investment in the developing countries. Second, through the deterioration of foreign investors and fiscal policies related to a high level of debt (Cordella, et.al., 2010). Therefore, this study proposed that only countries with a low external debt level and appropriate fiscal policies and good quality institutions can gain the proper quantity and quality of foreign investors, which will help the economic growth. For this, this research is examining the impact of fiscal policy on developing countries' economic growth in the situation of different external debt levels. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=fiscal%20policy" title="fiscal policy">fiscal policy</a>, <a href="https://publications.waset.org/abstracts/search?q=external%20debt" title=" external debt"> external debt</a>, <a href="https://publications.waset.org/abstracts/search?q=gross%20domestic%20product" title=" gross domestic product"> gross domestic product</a>, <a href="https://publications.waset.org/abstracts/search?q=developing%20countries" title=" developing countries"> developing countries</a> </p> <a href="https://publications.waset.org/abstracts/139300/the-impact-of-fiscal-policy-on-gross-domestic-product-under-contributions-of-level-of-external-debt-in-developing-countries" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/139300.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">160</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5149</span> Exploring the Effect of Accounting Information on Systematic Risk: An Empirical Evidence of Tehran Stock Exchange</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Mojtaba%20Rezaei">Mojtaba Rezaei</a>, <a href="https://publications.waset.org/abstracts/search?q=Elham%20Heydari"> Elham Heydari</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This paper highlights the empirical results of analyzing the correlation between accounting information and systematic risk. This association is analyzed among financial ratios and systematic risk by considering the financial statement of 39 companies listed on the Tehran Stock Exchange (TSE) for five years (2014-2018). Financial ratios have been categorized into four groups and to describe the special features, as representative of accounting information we selected: Return on Asset (ROA), Debt Ratio (Total Debt to Total Asset), Current Ratio (current assets to current debt), Asset Turnover (Net sales to Total assets), and Total Assets. The hypotheses were tested through simple and multiple linear regression and T-student test. The findings illustrate that there is no significant relationship between accounting information and market risk. This indicates that in the selected sample, historical accounting information does not fully reflect the price of stocks. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=accounting%20information" title="accounting information">accounting information</a>, <a href="https://publications.waset.org/abstracts/search?q=market%20risk" title=" market risk"> market risk</a>, <a href="https://publications.waset.org/abstracts/search?q=systematic%20risk" title=" systematic risk"> systematic risk</a>, <a href="https://publications.waset.org/abstracts/search?q=stock%20return" title=" stock return"> stock return</a>, <a href="https://publications.waset.org/abstracts/search?q=efficient%20market%20hypothesis" title=" efficient market hypothesis"> efficient market hypothesis</a>, <a href="https://publications.waset.org/abstracts/search?q=EMH" title=" EMH"> EMH</a>, <a href="https://publications.waset.org/abstracts/search?q=Tehran%20stock%20exchange" title=" Tehran stock exchange"> Tehran stock exchange</a>, <a href="https://publications.waset.org/abstracts/search?q=TSE" title=" TSE"> TSE</a> </p> <a href="https://publications.waset.org/abstracts/118623/exploring-the-effect-of-accounting-information-on-systematic-risk-an-empirical-evidence-of-tehran-stock-exchange" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/118623.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">133</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5148</span> Impact of Foreign Debt on Economic Growth of Nigeria</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Gylych%20Jelilov">Gylych Jelilov</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This paper investigates the effect of foreign debt on economic growth. Example has been chosen from Africa, Nigeria. By conducting cointegration test we have tested for a long-run relationship between. GDP = Real gross domestic product, EXTDEBT = External debt, INT = Interest rate, CAB = Current account balance, and EXCHR = Real exchange rate over the period 1990 to 2012. It was found out by the study that there is a negative but insignificant relationship between external debt and real gross domestic product. While a positive relationship exists between external debt and economic growth. Also, showed a negative and significant relationship between interest rate and real gross domestic product and there was a positive but insignificant relationship between current account balance and real gross domestic product. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=economic%20growth" title="economic growth">economic growth</a>, <a href="https://publications.waset.org/abstracts/search?q=foreign%20debt" title=" foreign debt"> foreign debt</a>, <a href="https://publications.waset.org/abstracts/search?q=Nigeria" title=" Nigeria"> Nigeria</a>, <a href="https://publications.waset.org/abstracts/search?q=sustainable%20development" title=" sustainable development"> sustainable development</a>, <a href="https://publications.waset.org/abstracts/search?q=economic%20stability" title=" economic stability"> economic stability</a> </p> <a href="https://publications.waset.org/abstracts/35824/impact-of-foreign-debt-on-economic-growth-of-nigeria" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/35824.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">475</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">5147</span> Effect of Interest-Based Debt Financing Upon Sustainable Development of Residents of Pakistan</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Gul%20Ghutai">Gul Ghutai</a>, <a href="https://publications.waset.org/abstracts/search?q=Nouman%20Khan%20Kakar"> Nouman Khan Kakar</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Interest-Based Debt Disturbs The Financial, Social And Economic Structure Of The Country, Due To Which Sustainable Development Of The Masses Is Undermined. Such As, In Pakistan, The State’s Reliance Upon Interest-Based Debt (Both Foreign And National Levels) Affects The Socio-Economic Fabrication Of The Country, Thus Undermining The Sustainable Development Of Its Residents. The Objective Of The Study Is To Analyze The Effect Of Interest-Based Debt Financing On The Well-Being Of The Masses In Pakistan. The Question Arises Whether Interest-Based Debt Financing Undermines The Sustainable Development Of The Masses Of Pakistan Or Not. Moreover, Qualitative Research Methodology Is Pursued Towards Building A Conceptual Framework By Applying An Inductive Paradigm. It Is Expected That Interest-Based Debt, Whether Acquired From Foreign Or National Institutions By The Government Of Pakistan, Undermines The Sustainable Economic Growth Of The Country. However, The State Of Pakistan Is Under A Constitutional Obligation To Attain Sustainable Development Of Its Residents In Compliance With Islamic Shariah So That Eradication Of Interest From The Economy Of Pakistan Can Be Witnessed So That The Residents Of Pakistan Can Be Served To Attain Socio-Economic Well-Being Both Tangibly And Intangibly. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=socio-economic%20wellbeing" title="socio-economic wellbeing">socio-economic wellbeing</a>, <a href="https://publications.waset.org/abstracts/search?q=residents" title=" residents"> residents</a>, <a href="https://publications.waset.org/abstracts/search?q=sustainable%20development" title=" sustainable development"> sustainable development</a>, <a href="https://publications.waset.org/abstracts/search?q=interest-based%20debt" title=" interest-based debt"> interest-based debt</a> </p> <a href="https://publications.waset.org/abstracts/169366/effect-of-interest-based-debt-financing-upon-sustainable-development-of-residents-of-pakistan" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/169366.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">128</span> </span> </div> </div> <ul class="pagination"> <li class="page-item disabled"><span class="page-link">&lsaquo;</span></li> <li class="page-item active"><span class="page-link">1</span></li> <li class="page-item"><a class="page-link" href="https://publications.waset.org/abstracts/search?q=debt%20to%20equity%20ratio&page=2">2</a></li> <li class="page-item"><a class="page-link" href="https://publications.waset.org/abstracts/search?q=debt%20to%20equity%20ratio&page=3">3</a></li> <li class="page-item"><a class="page-link" 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