Abstract
In this paper, we conduct sector-wise analysis, regarding debt maturity structures in
various Shariah-compliant and conventional sectors of Pakistan. The objective of this research is to
highlight the differences and similarities in the determinant variables of debt maturity structures and
the managerial behaviour in decision making. To test our hypotheses this study uses regression fixed
effect and random approaches by applying two models to explore two main objectives of the study, the
determinants of debt maturity structure and managerial behaviour while deciding the debt maturity
structure of various sectors. The findings demonstrate some differences and similarities in different
determining variables of debt maturity structures in the Shariah-compliant and conventional sectors.
We observed the difference in the managerial behaviour in deciding the debt maturity structure in the
sectors consisting of Shariah-compliant and conventional firms. The results suggest that there exists
self-interest factor in the managerial behaviour of most of the conventional sectors while deciding
maturity of debt, whereas managerial behaviour is trustworthy in most of the Shariah-compliant
sectors with some exceptions, thus proving the hypotheses of the study. This study may guide the
investors, firms and policymakers while deciding fund management and can see the real picture of
financial managers’ behaviour from a broader perspective. The stakeholders can also arbitrate the
determinants of debt maturity structure in the various sectors and the behaviour of managers.
Therefore, the stakeholders may act or decide for the business investment accordingly
Naveeda K. Katper, Azian Madun, Niaz Hussain. (2019) Sector-Wise Analysis For Debt Maturity Structures In Shariah-Compliant And Conventional Firms Of Pakistan, The International Research Journal Department of Usooluddin, Volume-03, Issue-1.
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