Debt maturity structure of low and high Tobin's Q firms

Debt maturity structure of low and high Tobin's Q firms

This study examines the effects of growth in influencing debt maturity structure of Malaysian companies. The result shows that growth firms with high Tobin’s Q are indifferent between short-term and long-term debt financing. However, the relationship between growth and debt maturity is negatively re...

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Main Author: Benjie, Lee Chien Jiang
Format: Thesis
Language:eng
eng
Published: 2014
Subjects:
HG Finance
Online Access:https://etd.uum.edu.my/4714/1/s813821.pdf
https://etd.uum.edu.my/4714/2/s813821_abstract.pdf
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id my-uum-etd.4714
record_format uketd_dc
institution Universiti Utara Malaysia
collection UUM ETD
language eng
eng
advisor Khaw, Lee Hwei
topic HG Finance
spellingShingle HG Finance
Benjie, Lee Chien Jiang
Debt maturity structure of low and high Tobin's Q firms
description This study examines the effects of growth in influencing debt maturity structure of Malaysian companies. The result shows that growth firms with high Tobin’s Q are indifferent between short-term and long-term debt financing. However, the relationship between growth and debt maturity is negatively related for firms with low Tobin’s Q. Therefore, this implies that growth firms with high Tobin’s Q do not make use of debt maturity structure to mitigate the agency cost of debt caused by underinvestment problem, while growth firms with low Tobin’s Q maintain higher levels of short-term debt, but lower levels of long-term debt to mitigate agency cost of equity caused by overinvestment problem
format Thesis
qualification_name masters
qualification_level Master's degree
author Benjie, Lee Chien Jiang
author_facet Benjie, Lee Chien Jiang
author_sort Benjie, Lee Chien Jiang
title Debt maturity structure of low and high Tobin's Q firms
title_short Debt maturity structure of low and high Tobin's Q firms
title_full Debt maturity structure of low and high Tobin's Q firms
title_fullStr Debt maturity structure of low and high Tobin's Q firms
title_full_unstemmed Debt maturity structure of low and high Tobin's Q firms
title_sort debt maturity structure of low and high tobin's q firms
granting_institution Universiti Utara Malaysia
granting_department Othman Yeop Abdullah Graduate School of Business
publishDate 2014
url https://etd.uum.edu.my/4714/1/s813821.pdf
https://etd.uum.edu.my/4714/2/s813821_abstract.pdf
_version_ 1747827786258579456
spelling my-uum-etd.47142022-04-10T00:48:03Z Debt maturity structure of low and high Tobin's Q firms 2014 Benjie, Lee Chien Jiang Khaw, Lee Hwei Othman Yeop Abdullah Graduate School of Business Othman Yeop Abdullah Graduate School of Business HG Finance This study examines the effects of growth in influencing debt maturity structure of Malaysian companies. The result shows that growth firms with high Tobin’s Q are indifferent between short-term and long-term debt financing. However, the relationship between growth and debt maturity is negatively related for firms with low Tobin’s Q. Therefore, this implies that growth firms with high Tobin’s Q do not make use of debt maturity structure to mitigate the agency cost of debt caused by underinvestment problem, while growth firms with low Tobin’s Q maintain higher levels of short-term debt, but lower levels of long-term debt to mitigate agency cost of equity caused by overinvestment problem 2014 Thesis https://etd.uum.edu.my/4714/ https://etd.uum.edu.my/4714/1/s813821.pdf text eng public https://etd.uum.edu.my/4714/2/s813821_abstract.pdf text eng public masters masters Universiti Utara Malaysia Ahn, S., Denis, D., & Denis, D. (2006). Leverage and investment in diversified firms. Journal of Financial Economics, 79, 317–337. Akhtar, S. (2005). The determinants of capital structure for Australian multinational and domestic corporations. Australian Journal of Management, 30(2), 321-341. Antoniou, A., Guney, Y., & Paudyal, K. (2006). The determinants of debt maturity structure: evidence from France, Germay and the UK. 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