ISSN 2394-5125
 

Research Article 


DYNAMIC AND SECTORAL ANALYSIS OF WORKING CAPITAL: A CASE STUDY OF PAKISTAN

Hamza Ali Khan, Dr. Zafar Iqbal, Naveeda Zeb, Sibbat Taufeeq.

Abstract
The objective of this study is to examine the dynamic and sectoral analysis for the determinants
of working capital for listed firms in Pakistan Stock Exchange. The major factors include at two different levels
like firm and sector level. The study used the data of two sectors from 2002 to 2019. The major sources of data
are IMF, World Bank and other FSA, BSA reports issued by State Bank of Pakistan. The study is secondary in
nature and used online sources for country levels factors. It is further explored that the relationship investigated
by firm and sector level and its implications with WC at across the sectors of Pakistan. The study work is based
on fixed effect investigation and GMM (Generalized method of moment). The study indicates that sector has
various approach towards target WC management. Further this study is tested upon the presence of dynamic
WC through GMM (generalized method of moment). So the findings of study reveals of dynamic design reflect,
pace of adjustment towards the target WC varies at across sector. As far sector level point of view, it prefers the
hypothesis regarding indirect impact of sectors upon WC management of firms across sectors. In last, picking
order theory in respect WC management of firms in various sectors (Cement and Textile). Dynamic point of
view will be explored and how quickly firm adjusted called speed of adjustment. However, the study will find
relationship the applicable of important pecking order theory. In last, GMM (Generalized method of moment) is
applied in the study to analyze the existence dynamic working capital across the sector of Pakistan and then how
quickly these firms adjust in time means speed of adjustment to be analyzed.

Key words: Dynamic Modeling, GMM and Speed of Adjustment Munificence, dynamism, HHI


 
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How to Cite this Article
Pubmed Style

Hamza Ali Khan, Dr. Zafar Iqbal, Naveeda Zeb, Sibbat Taufeeq. DYNAMIC AND SECTORAL ANALYSIS OF WORKING CAPITAL: A CASE STUDY OF PAKISTAN. JCR. 2020; 7(16): 3169-3185. doi:10.31838/jcr.07.16.407


Web Style

Hamza Ali Khan, Dr. Zafar Iqbal, Naveeda Zeb, Sibbat Taufeeq. DYNAMIC AND SECTORAL ANALYSIS OF WORKING CAPITAL: A CASE STUDY OF PAKISTAN. http://www.jcreview.com/?mno=132133 [Access: April 17, 2021]. doi:10.31838/jcr.07.16.407


AMA (American Medical Association) Style

Hamza Ali Khan, Dr. Zafar Iqbal, Naveeda Zeb, Sibbat Taufeeq. DYNAMIC AND SECTORAL ANALYSIS OF WORKING CAPITAL: A CASE STUDY OF PAKISTAN. JCR. 2020; 7(16): 3169-3185. doi:10.31838/jcr.07.16.407



Vancouver/ICMJE Style

Hamza Ali Khan, Dr. Zafar Iqbal, Naveeda Zeb, Sibbat Taufeeq. DYNAMIC AND SECTORAL ANALYSIS OF WORKING CAPITAL: A CASE STUDY OF PAKISTAN. JCR. (2020), [cited April 17, 2021]; 7(16): 3169-3185. doi:10.31838/jcr.07.16.407



Harvard Style

Hamza Ali Khan, Dr. Zafar Iqbal, Naveeda Zeb, Sibbat Taufeeq (2020) DYNAMIC AND SECTORAL ANALYSIS OF WORKING CAPITAL: A CASE STUDY OF PAKISTAN. JCR, 7 (16), 3169-3185. doi:10.31838/jcr.07.16.407



Turabian Style

Hamza Ali Khan, Dr. Zafar Iqbal, Naveeda Zeb, Sibbat Taufeeq. 2020. DYNAMIC AND SECTORAL ANALYSIS OF WORKING CAPITAL: A CASE STUDY OF PAKISTAN. Journal of Critical Reviews, 7 (16), 3169-3185. doi:10.31838/jcr.07.16.407



Chicago Style

Hamza Ali Khan, Dr. Zafar Iqbal, Naveeda Zeb, Sibbat Taufeeq. "DYNAMIC AND SECTORAL ANALYSIS OF WORKING CAPITAL: A CASE STUDY OF PAKISTAN." Journal of Critical Reviews 7 (2020), 3169-3185. doi:10.31838/jcr.07.16.407



MLA (The Modern Language Association) Style

Hamza Ali Khan, Dr. Zafar Iqbal, Naveeda Zeb, Sibbat Taufeeq. "DYNAMIC AND SECTORAL ANALYSIS OF WORKING CAPITAL: A CASE STUDY OF PAKISTAN." Journal of Critical Reviews 7.16 (2020), 3169-3185. Print. doi:10.31838/jcr.07.16.407



APA (American Psychological Association) Style

Hamza Ali Khan, Dr. Zafar Iqbal, Naveeda Zeb, Sibbat Taufeeq (2020) DYNAMIC AND SECTORAL ANALYSIS OF WORKING CAPITAL: A CASE STUDY OF PAKISTAN. Journal of Critical Reviews, 7 (16), 3169-3185. doi:10.31838/jcr.07.16.407