Financial Distress, Firm Life Cycle, and Corporate Restructuring Decisions: Evidence from Pakistan’s Economy

This study examines the influence of financial distress on corporate restructuring decisions and whether this varies across Firm Life Cycle (FLC) stages Pakistani non-financial listed firms for 12 years from 2005 to 2016 inclusive. FLC are measured using Dickinson model Altman Z-score, respectively. Corporate is segregated into equity debt restructuring. The data analyzed a panel logistic regression model. results reveal that negatively associated with positively decisions. Further analysis shows new, growing mature have positive associations negative decisions, while declining prefer has important implications managers policy makers.