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Exploring the Nexus between Debt Financing and Firm Performance: A Robustness Analysis Using Instrumental Variables
Journal: International Journal of Advanced Engineering Research and Science (Vol.12, No. 02)Publication Date: 2025-02-05
Authors : Tellma Longy Okanda Jianhua Zhang Philip Adu Sarfo Ophelia Amankwah;
Page : 08-22
Keywords : Debt Financing; Firm Performance; Return on Equity (ROE); Return on Assets (ROA); Financial Leverage; Instrumental Variables.;
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Abstract
This study explores the impact of debt financing on firm performance, focusing on addressing the challenges of endogeneity and collinearity in regression models. Using a sample of firms from the CSMAR database, we investigate how different forms of debt financing short-term debt, long-term debt, and total debt affect firm performance metrics
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Last modified: 2025-07-02 13:50:56