The determinants of capital structure: Evidence from Malaysian companies

The determinants of capital structure: Evidence from Malaysian companies

The aim of this study is to investigate the determinants of capital structure for Malaysian manufacturing companies. The studied subjects were 174 Malaysia manufacturing companies listed on Bursa Malaysia from year 2011 to year 2014. Firm fixed-effect with robust standard was used in data analysis t...

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Main Authors: Goh, Chin Fei, Tai, Wan Ying, Rasli, Amran, Tan, Owee Kowang, Zakuan, Norhayati
Format: Article
Published: ExcelingTech 2018
Subjects:
HD28 Management. Industrial Management
Online Access:http://eprints.utm.my/id/eprint/83946/
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Institution: Universiti Teknologi Malaysia
id my.utm.83946
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spelling my.utm.839462019-11-05T04:33:14Z http://eprints.utm.my/id/eprint/83946/ The determinants of capital structure: Evidence from Malaysian companies Goh, Chin Fei Tai, Wan Ying Rasli, Amran Tan, Owee Kowang Zakuan, Norhayati HD28 Management. Industrial Management The aim of this study is to investigate the determinants of capital structure for Malaysian manufacturing companies. The studied subjects were 174 Malaysia manufacturing companies listed on Bursa Malaysia from year 2011 to year 2014. Firm fixed-effect with robust standard was used in data analysis to address the potential heterogeneity and endogeneity that arise from panel data. The analysis shows that firm profitability and non-debt tax shield are negatively related to firm leverage. On the other hand, several corporate governance mechanisms, namely, ownership concentration, separation of CEO-chairs, board independence, are not related to firm leverage. Liquidity, firm size and asset structure are also not related to firm leverage of manufacturing firms. ExcelingTech 2018 Article PeerReviewed Goh, Chin Fei and Tai, Wan Ying and Rasli, Amran and Tan, Owee Kowang and Zakuan, Norhayati (2018) The determinants of capital structure: Evidence from Malaysian companies. International Journal of Supply Chain Management, 7 (3). pp. 225-230. ISSN 2051-3771
institution Universiti Teknologi Malaysia
building UTM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Teknologi Malaysia
content_source UTM Institutional Repository
url_provider http://eprints.utm.my/
topic HD28 Management. Industrial Management
spellingShingle HD28 Management. Industrial Management
Goh, Chin Fei
Tai, Wan Ying
Rasli, Amran
Tan, Owee Kowang
Zakuan, Norhayati
The determinants of capital structure: Evidence from Malaysian companies
description The aim of this study is to investigate the determinants of capital structure for Malaysian manufacturing companies. The studied subjects were 174 Malaysia manufacturing companies listed on Bursa Malaysia from year 2011 to year 2014. Firm fixed-effect with robust standard was used in data analysis to address the potential heterogeneity and endogeneity that arise from panel data. The analysis shows that firm profitability and non-debt tax shield are negatively related to firm leverage. On the other hand, several corporate governance mechanisms, namely, ownership concentration, separation of CEO-chairs, board independence, are not related to firm leverage. Liquidity, firm size and asset structure are also not related to firm leverage of manufacturing firms.
format Article
author Goh, Chin Fei
Tai, Wan Ying
Rasli, Amran
Tan, Owee Kowang
Zakuan, Norhayati
author_facet Goh, Chin Fei
Tai, Wan Ying
Rasli, Amran
Tan, Owee Kowang
Zakuan, Norhayati
author_sort Goh, Chin Fei
title The determinants of capital structure: Evidence from Malaysian companies
title_short The determinants of capital structure: Evidence from Malaysian companies
title_full The determinants of capital structure: Evidence from Malaysian companies
title_fullStr The determinants of capital structure: Evidence from Malaysian companies
title_full_unstemmed The determinants of capital structure: Evidence from Malaysian companies
title_sort determinants of capital structure: evidence from malaysian companies
publisher ExcelingTech
publishDate 2018
url http://eprints.utm.my/id/eprint/83946/
_version_ 1651866738452594688

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