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This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License
Article
Financial Variables and Systematic Risk
Author(s)
Rashed Nawaz, Waqar Ahmed, Imran, Sabeela Sabir, Muhammad Arshad
Tayyaba Rani
Adnan Khan
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DOI:10.17265/1537-1506/2017.01.004
Affiliation(s)
Hazara University, Mansehra, Pakistan
Government College University, Faisalabad, Pakistan
University of Wales, Wales, UK
ABSTRACT
The
objective of this study is to examine the relationship among financial determinants
and systematic risk of cement industry. Five financial variables are utilized as
components, i.e. industry size, operating efficiency, liquidity, profitability,
and financial leverage in this study. Six years data from 2008 to 2013 have been
collected from Karachi Stock Exchange. The consequences of 29 cement industries
showed that there is a huge relationship between industry size, operating efficiency,
and profitability with 181 systematic risk and results similar to past studies while
liquidity and financial leverage have not a significant relationship with beta (systematic
risk). Results are profitable for budgetary approach creators and investors to expand
the profits.
KEYWORDS
cement industries, systematic risk, CAPM
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