This study has been conducted to investigate the relationship between the
leverage, ownership structure and firm performance. The study used accounting
based measured to measure the performance, which is return on assets (ROA) and
return on equity (ROE) as dependent variables, while leverage, ownership
proxies and other control variables as independent variables. The ownership
proxies included the managerial ownership, institutional ownership and family
owned ownership while the control variables included the size of the firm and
net income of the selected firms. This study has used panel data analysis while
using data of 70 firms listed on Pakistan Stock Exchange, for the years 2010 to
2016. This study found negative but statistically significant relationship of
leverage on firm performance with both ROA and ROE. Similarly managerial ownership, institutional ownership and family
owned ownership have negative but statistically significant relationship with
performance on listed companies Pakistan stock exchange.
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