The selection of financing is a top priority for businesses, particularly in short- and long-term investment decisions. Mixing debt and equity leads to decisions on the financial structure for businesses. This research analyzes the moderate position of company size and the interest rate in the capital structure over six years (2013–2018) for 29 listed Pakistani enterprises operating in the sugar market. This research employed static panel analysis and dynamic panel analysis on linear and nonlinear regression methods. The capital structure included debt to capital ratio, non-current liabilities, plus current liabilities to capital as a dependent variable. Independent variables were profitability, firm size, tangibility, Non-Debt Tax Shield, liquidity, and macroeconomic variables were exchange rates and interest rates. The investigation reported that profitability, firm size, and Non-Debt Tax Shield were significant and negative, while tangibility and interest rates significantly and positively affected debt to capital ratio. This means the sugar sector has greater financial leverage to manage the funding obligations for the better performance of firms. Therefore, the outcomes revealed that the moderators have an important influence on capital structure.

The recent crisis of non-performing loans in the banking system has hit the Vietnamese economy hard. The GDP has been fallen down, while the bad debt ratio in the banking system has risen dramatically to 17.2 percent, and it takes more time to restore the economy and banking system. This research aims to define aspects that impact non-performing commercial bank loans in Vietnam. It covers the period of 2008–2017 using 200 identified banks of Ho Chi Minh City Stock Exchange and Hanoi Stock Exchange, and applies methods based on the regression of pooled ordinary least squares, fixed and random effects models, in particular, generalized least squares to confirm the stability of the regression model. The results show that non-performing loans this year will positively affect those in the next year. In addition, a raise in bank performance and credit growth also leads to the reduction in non-performing loans from banks. Regarding macroeconomic factors, higher interest rates would have a major and beneficial influence on failed loans in terms of macroeconomic dynamics, and, therefore, little effect on economic activity and inflation. Therefore, Vietnamese banking system should reduce the systematic risk and improve monitoring processes, drawing on the experience of global banks with extensive experience in risk management.

The aim of the study is to explore the interaction effect of macroeconomics indicators, and working capital flows on financial performance in a developing economy. By using the static and dynamic approach of panel analysis, it has been shown that there is a relationship between the components of working capital and the gross profit and cash conversion duration. Second, while interest rates used as an interaction variable with the average payable days have adverse effects, firm performance would decrease if interest rates increase. The average payable duration extends; instead of primarily regressing, the average payable period positively correlates with firm performance. The conversion cycle of cash has a negative relationship, but it reverses its actions after using interest rate interaction. There is a negative relationship with gross profit in the simple regression exchange rate and cash conversion cycle while using the second interaction variable with the cash conversion cycle, has positive effects. In addition, the exchange rate gets higher to increase the cash conversion length, financial performance will be increased. In addition, the exchange rate gets higher to increase the cash conversion length, financial performance will be increased. This study receives new results, the exchange rate increases, companies that can pay early to payable will get higher firm performance while exchange rate and the interest rate have a significant role in changing the firm performance.

The study examines the link between firm-level investment and firm performance moderated by economic policy uncertainty in the manufacturing sector of Pakistan across the six years from 2015–2020. The System-GMM estimation has been employed to demonstrate the problem of endogeneity with dynamic linear and non-linear models. The study revealed that the moderating impact of economic policy uncertainty has negative and significant impact on investment (investment in tangible assets, investment in intangible assets, and financial leverage) and firm performance (Tobin’s Q). Similarly, economic policy uncertainty regarding investment and firm performance (ROA) is negative and significant in investment in tangible assets, but positive and significant in financial leverage. Our findings remain constant over a range of variable characteristics, even after accounting for endogeneity issues. Our main contribution is the finding that investment and firm performance have a negative and significant relationship with economic policy uncertainty. As economic policy uncertainty raises the firm level, investment decreases, which ultimately impacts firm performance negatively. Thus, the study advises that policymakers make an effort to minimize the effect of economic policy uncertainty at a certain level. They must keep this uncertainty within a reasonable range since increased economic policy uncertainty will push businesses to minimize their short-term and long-term investments.

Purpose of the study: Lean manufacturing is perceived to be a significant competitive advantage of firms as it removes waste from manufacturing operations with innovations in products and processes. This research aims to know the impact of lean manufacturing practices of textile firms on their operational efficiency. Methodology: For this study, questionnaires were electronically sent to operation/ production managers of 122 textile firms using lean manufacturing technologies in Pakistan. Based on the literature review, nine lean manufacturing practices and five operational performance measures were included in the questionnaire survey. Just 91 operation managers replied, a response rate of 74%. Multiple regression analysis was performed to test the hypotheses of the study. Main findings: The results of regression analysis show that lean manufacturing practices significantly impact the operational performance of textile firms. The study's findings suggest that the involvement of customers, suppliers, and employees causes an increase in the operating performance of firms. Moreover, it is established that some lean manufacturing practices such as 5S, automation (Jidoka), Justin time (JIT), equipment layout, and continuous improvement (Kaizen) have a significant and positive effect on the operational performance of firms. Application of the study: The lean manufacturing practices save money for businesses and increases overall productivity by reducing waste. These are also helpful in increasing consumer loyalty and employee productivity. The study's results show that lean production methods can be adopted to improve operating performance and competitiveness. Originality/ Novelty: This study adds a piece of first-hand evidence by establishing a significant effect of lean manufacturing practices of firms on their operational performance in Pakistan, where most of the firms so far are using traditional techniques due to lack of financial resources.

The main objective of this study is to find out why sugar companies’ revaluation of their fixed assets has no direct financial impact. The purpose of this financial statement analysis of the sugar sector is to help potential investors make better decisions. It can also be used to address information asymmetries and alert investors. Fixed assets form a major part of a company’s value. During 2013–2018, 19 selected enterprises of Pakistan’s sugar sector adopted the International Accounting Standards Board’s international accounting standard 16 for fixed assets. Ordinary least squares, fixed effects, and random effects methods were used as a static panel, a panel-corrected standard errors method was used for the robust standard error and the system generalized method of moments was used as a dynamic panel. The surplus had a negative impact on operative income on revaluation of fixed assets in sugar businesses. As expected, revaluation by fixed asset firms resulted in changes in potential outcomes, as measured by cash in operating income and revenue, both of which were extremely negative. The return on assets was also linked to revaluation balance. The debt over the proportion of assets resulted in a strong correlation between revaluations, which meant that motivation affected how the volatility in asset value reflected the revaluation. Relationships were generally worse and more uncertain for listed companies at a time of strong economic volatility. Investors should not consider such accounting justice. The price-earnings ratio had a beneficial effect on operative income. The statistics support the idea that external concerns help the revaluation of assets.

The overall objective of this research is to analyze the financial condition of failing companies prior to bankruptcy, in comparison with non-failing companies, which are matched on the industry, size, and time-period. The sample consists of 168 SMEs from the wholesale and retail industry, whose financial statements were analyzed for the 2011-2015 period. The analysis is primarily based on the ratio analysis and the models developed for bankruptcy prediction and financial statement manipulation. Mann-Whitney U test is used to compare differences between failing and non-failing SMEs for a set of twenty variables. Research findings indicate that there is a significant difference between failing and non-failing SMEs, especially in accruals, asset quality, leverage, profitability, and liquidity. For the very first time in the transition economy of CEE Bosnia and Herzegovina, the pre-bankruptcy behavior of failing SMEs is analyzed, providing insights into potentially manipulated areas, which represent the main contribution of the research.

The cycle of cash conversion relates to the time spread between the value of cash paid for purchases and the cash receipt from turnover. Using the State Bank of Pakistan data, this study introduces the direct and moderating role of the exchange rate, effective through the efficient execution of the cash conversion cycle between Pakistani 302 manufacturing companies from 1999–2015. Using the fixed effect as the static panel model and system GMM as a dynamic panel, it is observed that the exchange rate plays an authoritative moderating role between the cash conversion cycle and the financial performance. Results of the investigation have shown that in static panel analysis with the cash conversion period, the exchange rate has a positive and substantial moderating effect on return on assets and return on equity whereas that ER has a major negative impact on return on assets and return on equity using dynamic panel data analysis GMM. The issue of endogeneity in the static panel is addressed using the advanced approach of the standard error of the panel correction standard error method that changed the position of the significance of the moderator variable. Observers, therefore, intend to evaluate the fluctuations in the exchange rate as one of the variables of the financial output moderator in the context of current metrics such as asset’s returns, equity’s returns and gain more practical expression within their investigated results.