Farooq, Muhammad; Hunjra, Ahmed Imran; Ullah, Saif; … - In: Cogent Economics & Finance 11 (2023) 1, pp. 1-22
This study analyses the cost of financial distress of non-financial firms listed on the Pakistan stock exchange … test the hypotheses. We find that ex-ante financial distress costs are based not only on the probability of financial … long-term leverage lowers the cost of financial distress, whereas the use of short-term debt has no significant impact on …