Capital Structure Determinants: Evidence From Surviving Listed Companies In Malaysia

This study examined the relationship between the determinants of capital structure and financial leverage of the surviving listed family and surviving non-family ownership of public listed companies in Malaysia. There are 474 publicly listed companies in the the Bursa Malaysia as at 31 December 1...

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Main Author:	Lau, Teik Cheng
Format:	Thesis
Language:	English
Published:	2018
Subjects:	HD28-70 Management Industrial Management
Online Access:	http://eprints.usm.my/47539/1/LAU%20TEIK%20CHENG%20-%20M.A.%202018%20CAPITAL%20STRUCTURE%20DETERMINANTS%20EVIDENCE%20FROM%20SURVIVING%20LISTED%20COMPANIES%20IN%20MALAYSIA.pdf
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spelling	my-usm-ep.475392020-10-14T07:09:29Z Capital Structure Determinants: Evidence From Surviving Listed Companies In Malaysia 2018-08 Lau, Teik Cheng HD28-70 Management. Industrial Management This study examined the relationship between the determinants of capital structure and financial leverage of the surviving listed family and surviving non-family ownership of public listed companies in Malaysia. There are 474 publicly listed companies in the the Bursa Malaysia as at 31 December 1999, a longitudinal period of study was examined from year 2000 to 2015, total 16 years. After deducted finance related companies, those fall in PN4, PN17, delisted, non-survived and incomplete data, final samples are 151 surviving listed companies, consist of 72 surviving family and 79 surviving non-family listed companies. The econometric techniques, Pearson correlation matrix, panel data analysis (fixed effects model) and independent samples t-test have been applied. Financial accounting data as secondary data were derived from Datastream and annual report. This study applied four independent variables, namely asset tangibility (TANG), growth opportunities (GROWTH), profitability (PROF) and liquidity (LIQ), and one control variable firm size (SIZE). The short term debt ratio (STDR), long term debt ratio (LTDR) and debt ratio (DR) are dependent variables. The average mean value of leverages for the surviving family firms are slightly lower than surviving non-family firms, indicating that surviving family firms use lower debt as comparison. Based on the mean value statistic, it reported that surviving non-family companies perform slightly better than surviving family companies in term of asset tangibility, growth opportunities and profitability. However, surviving family companies’ liquidity and firm size are slightly larger than non-family companies. 2018-08 Thesis http://eprints.usm.my/47539/ http://eprints.usm.my/47539/1/LAU%20TEIK%20CHENG%20-%20M.A.%202018%20CAPITAL%20STRUCTURE%20DETERMINANTS%20EVIDENCE%20FROM%20SURVIVING%20LISTED%20COMPANIES%20IN%20MALAYSIA.pdf application/pdf en public masters Universiti Sains Malaysia Pusat Pengajian Pengurusan
institution	Universiti Sains Malaysia
collection	USM Institutional Repository
language	English
topic	HD28-70 Management Industrial Management
spellingShingle	HD28-70 Management Industrial Management Lau, Teik Cheng Capital Structure Determinants: Evidence From Surviving Listed Companies In Malaysia
description	This study examined the relationship between the determinants of capital structure and financial leverage of the surviving listed family and surviving non-family ownership of public listed companies in Malaysia. There are 474 publicly listed companies in the the Bursa Malaysia as at 31 December 1999, a longitudinal period of study was examined from year 2000 to 2015, total 16 years. After deducted finance related companies, those fall in PN4, PN17, delisted, non-survived and incomplete data, final samples are 151 surviving listed companies, consist of 72 surviving family and 79 surviving non-family listed companies. The econometric techniques, Pearson correlation matrix, panel data analysis (fixed effects model) and independent samples t-test have been applied. Financial accounting data as secondary data were derived from Datastream and annual report. This study applied four independent variables, namely asset tangibility (TANG), growth opportunities (GROWTH), profitability (PROF) and liquidity (LIQ), and one control variable firm size (SIZE). The short term debt ratio (STDR), long term debt ratio (LTDR) and debt ratio (DR) are dependent variables. The average mean value of leverages for the surviving family firms are slightly lower than surviving non-family firms, indicating that surviving family firms use lower debt as comparison. Based on the mean value statistic, it reported that surviving non-family companies perform slightly better than surviving family companies in term of asset tangibility, growth opportunities and profitability. However, surviving family companies’ liquidity and firm size are slightly larger than non-family companies.
format	Thesis
qualification_level	Master's degree
author	Lau, Teik Cheng
author_facet	Lau, Teik Cheng
author_sort	Lau, Teik Cheng
title	Capital Structure Determinants: Evidence From Surviving Listed Companies In Malaysia
title_short	Capital Structure Determinants: Evidence From Surviving Listed Companies In Malaysia
title_full	Capital Structure Determinants: Evidence From Surviving Listed Companies In Malaysia
title_fullStr	Capital Structure Determinants: Evidence From Surviving Listed Companies In Malaysia
title_full_unstemmed	Capital Structure Determinants: Evidence From Surviving Listed Companies In Malaysia
title_sort	capital structure determinants: evidence from surviving listed companies in malaysia
granting_institution	Universiti Sains Malaysia
granting_department	Pusat Pengajian Pengurusan
publishDate	2018
url	http://eprints.usm.my/47539/1/LAU%20TEIK%20CHENG%20-%20M.A.%202018%20CAPITAL%20STRUCTURE%20DETERMINANTS%20EVIDENCE%20FROM%20SURVIVING%20LISTED%20COMPANIES%20IN%20MALAYSIA.pdf
_version_	1747821798009864192

Capital Structure Determinants: Evidence From Surviving Listed Companies In Malaysia

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