Abstract:
The reason for this examination is to determine the effect of the financial determinant that is
leverage and profitability is considered. Whereas Firm size is also included to explore to see that
how this factors impact the development of the firm. The collected data was taken from non-financial sector (Cement Sector). Annual set series data cover 10 years of period from 2010 to 2019
for growth analysis. Data take from data bank or some financial yearly report or some will be taken
from official website of Karachi stock exchange (KSE). Random effect model for panel data was
applied for the analysis and results of the study. The results of the conducted study show that the
determinant of growth, Profitability has a negative and significant effect on the other hand the
leverage has a positive and insignificant impact on growth of the firm. Firm size also has positive
and significant impact on the growth of the firm. More detailed and comprehensive analysis in
future research will be useful in gaining a significant understanding of various aspects of the
growth of the organizations, and subsequently in formulating better strategies for the development
of the economy at smaller scale and large scale level.
