Determinants of capital structure : evidence from Malaysian SMEs

Determinants of capital structure : evidence from Malaysian SMEs

This paper aims to investigate the determinants of capital structure of small and medium enterprises (SMEs) from manufacturing sector in Malaysia. Specifically, this study wants to examine the effect of asset structure, profitability, quality of information, size and age on leverage. Multivariate...

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Main Author: Masor, Nurhayati
Format: Thesis
Language:eng
eng
Published: 2017
Subjects:
HB615-715 Entrepreneurship
Risk and uncertainty
Property
HD60 Small Business.
Online Access:https://etd.uum.edu.my/6702/1/s817814_01.pdf
https://etd.uum.edu.my/6702/2/s817814_02.pdf
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id my-uum-etd.6702
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institution Universiti Utara Malaysia
collection UUM ETD
language eng
eng
advisor Abdul Rahman, Azhar
topic HB615-715 Entrepreneurship
Risk and uncertainty
Property
HD60 Small Business.
spellingShingle HB615-715 Entrepreneurship
Risk and uncertainty
Property
HD60 Small Business.
Masor, Nurhayati
Determinants of capital structure : evidence from Malaysian SMEs
description This paper aims to investigate the determinants of capital structure of small and medium enterprises (SMEs) from manufacturing sector in Malaysia. Specifically, this study wants to examine the effect of asset structure, profitability, quality of information, size and age on leverage. Multivariate regression analysis and Pearson’s correlation analysis were used to investigate the most significant factors that affect the capital structure choice of Malaysian SMEs during the year 2013. In the first model, both results find a negative and significant relationship for profitability and size with leverage while asset structure, quality of information and age show negative but not significant relationship with leverage. However, using a second model, asset structure shows a significant positive relationship with leverage, while quality of information shows significant negative relationship with leverage. The analysis indicates that firstly; the results are consistent with some capital structure theories such as trade-off theory and pecking order theory. Secondly, quality of information, asset structure, profitability and size are important factors that affect capital structure choice of Malaysian SMEs.
format Thesis
qualification_name other
qualification_level Master's degree
author Masor, Nurhayati
author_facet Masor, Nurhayati
author_sort Masor, Nurhayati
title Determinants of capital structure : evidence from Malaysian SMEs
title_short Determinants of capital structure : evidence from Malaysian SMEs
title_full Determinants of capital structure : evidence from Malaysian SMEs
title_fullStr Determinants of capital structure : evidence from Malaysian SMEs
title_full_unstemmed Determinants of capital structure : evidence from Malaysian SMEs
title_sort determinants of capital structure : evidence from malaysian smes
granting_institution Universiti Utara Malaysia
granting_department Othman Yeop Abdullah Graduate School of Business
publishDate 2017
url https://etd.uum.edu.my/6702/1/s817814_01.pdf
https://etd.uum.edu.my/6702/2/s817814_02.pdf
_version_ 1747828105153609728
spelling my-uum-etd.67022021-05-10T06:26:44Z Determinants of capital structure : evidence from Malaysian SMEs 2017 Masor, Nurhayati Abdul Rahman, Azhar Othman Yeop Abdullah Graduate School of Business Othman Yeop Abdullah Graduate School of Business HB615-715 Entrepreneurship. Risk and uncertainty. Property HD60 Small Business. This paper aims to investigate the determinants of capital structure of small and medium enterprises (SMEs) from manufacturing sector in Malaysia. Specifically, this study wants to examine the effect of asset structure, profitability, quality of information, size and age on leverage. Multivariate regression analysis and Pearson’s correlation analysis were used to investigate the most significant factors that affect the capital structure choice of Malaysian SMEs during the year 2013. In the first model, both results find a negative and significant relationship for profitability and size with leverage while asset structure, quality of information and age show negative but not significant relationship with leverage. However, using a second model, asset structure shows a significant positive relationship with leverage, while quality of information shows significant negative relationship with leverage. The analysis indicates that firstly; the results are consistent with some capital structure theories such as trade-off theory and pecking order theory. Secondly, quality of information, asset structure, profitability and size are important factors that affect capital structure choice of Malaysian SMEs. 2017 Thesis https://etd.uum.edu.my/6702/ https://etd.uum.edu.my/6702/1/s817814_01.pdf text eng public https://etd.uum.edu.my/6702/2/s817814_02.pdf text eng public other masters Universiti Utara Malaysia Ab Manan, S. K., Othman, J., & Shahadan, A. (2011). 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