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1860797558030336000
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| building |
INTELEK Repository
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| collection |
Online Access
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| collectionurl |
https://intelek.unisza.edu.my/intelek/pages/search.php?search=!collection407072
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| date |
2016-09-04 12:31:20
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| format |
Restricted Document
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| id |
13234
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UniSZA
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| internalnotes |
Abor, J. (2005), The effect of capital structure on profitability: An empirical analysis of listed firms in Ghana. The Journal of Risk Finance, 65(5), 438-445. Akeem, L.B., Terer, E.K., Kiyanjui, M.W., Kayode, A.M. (2014), Effects of capital structure on firm’s performance. Empirical study of manufacturing companies in Nigeria. Journal of Finance and Investment Analysis, 3(4), 39-57. Akhtar, S. (2005), The determinants of capital structure for Australian multinational and domestic corporations. Australian Journal of Management, 30(2), 321-341. Allen, D.E. (1991), The determinants of the capital structure of listed Australian companies: The financial manager’s perspective. Australian Journal of Management, 16(2), 103-128. Bancel, F., Mittoo, U.R. (2002), The determinants of capital structure choice: A survey of European firms. Conference paper presents at European Financial Management Association and Multinational Financial Society. Available from: http://www.info.psu.edu.sa/psu/ fnm/engkungah/Article_Survey_capitalstructure_Europe.pdf. [Last retrieved on 2011 Jun 25]. Barton, S.L., Gordon, P.J. (1988), Corporate strategy and capital structure. Strategic Management Journal, 9(6), 623-632. Bettis, R.A. (1981), Performance differences in related and unrelated diversified firms. Strategic Management Journal, 2(4), 379-393. Booth, L., Aivazian, V., Kunt, A.D., Maksimovic, V. (2001), Capital structure in developing countries. The Journal of Finance, LVI(1), 87-130. Chang, C., Lee, A.C., Lee, C.F. (2005), Determinants of capital structure choice: A structural equation modeling approach. Online Publication. Available from: http://www.mgt.dyu.edu.tw/phm/ files/other/DeterminantsofCapitalStructure2.pdf. [Last retrieved on 2011 Jun 25]. Claessens, S., Djankov, S., Xu, L.C. (2000), Corporate performance in the East Asian financial crisis. World Bank Research Observer, 15, 23-46. Daud, W.M.N. (2014), Related and unrelated diversification strategy and performance. Unpublished Thesis. UiTM. Daves, P.R., Ehrhardt, M.C., Kuhlemeyer, G.A., Kunkel, R.A. (2000), Increases in the systematic risk of large firms. American Business Review, 18, 62-74. Eriotis, N. (2007), How firms characteristics affect capital structure: An empirical study. Managerial Finance, 33(5), 321-331. Graham, J.R. (2000), How big are the tax benefits of debt? The Journal Of Finance, 55(5), 1901-1942. Grant, R.M., Jammine, A.P., Thomas, H. (1988), Diversity, diversification, and profitability among British manufacturing companies, 1972-84. Academy of Management Journal, 31(4), 771-801. Gujarati, D.N., Porter, D.C. (2008), Basic Econometrics. 5th ed. NewYork: McGraw Hill Irwin. Junior, J.N., Funchal, B. (2013), The effects of corporate diversification on the capital structure of Brazilian firms. Revista Contabilidad and Finanzas, 24(62), 154-161. Kajananthan, R., Nimalthasan, P. (2013), Capital structure and its impact on firm perfomance. A study on Sri Lankan listed manufacturing companies. Merit Research Journals Business Management, 1(2), 37-44. Kjellman, A., Hansen, S. (1995), Determinants of capital structure: Theory vs practice. Scand. Journal Management, 11(2), 91-102. Kochhar, R. (1996), Explaining firm capital structure: The role of agency theory vs. transaction cost economics. Strategic Management Journal, 17(9), 713-728. Korajczyk, R., Levy, A. (2003), Capital structure choice: Macroeconomic conditions and financial constraints. Journal of Financial Economics, 68, 75-109. Kovenock, D., Philips, G. (1995), Capital structure and product-market rivalry: How do we reconcile theory and evidence? The American Economic Review, 85(2), 403-408. Lim, E.N.K., Das, S.S., Das, A. (2009), Diversification strategy, capital structure and the Asian financial crisis (1997-1998): Evidence from Singapore firms. Strategic Management Journal, 30, 577-594. Majumdar, S.K., Chhibber, P. (1999), Capital structure and performance: Evidence from a transition economy on an aspect of corporate governance. Public Choice, 98(3-4), 287-205. Masulis, R.W. (1983), The impact of capital structure change on firm value. The Journal of Finance, XXXVII(1), 107-126. Mitton, T. (2007), Why have debt ratios increases for firms in emerging markets. European Financial Management, 14(1), 127-151. Modigliani, F., Miller, M.H. (1958), The cost of capital, corporative finance and the theory of investment. The American Economic Review, XLVIII, 261-297. Modigliani, F., Miller, M.H. (1963), Corporate income taxes and the cost of capital; A correction. American Business Review, 53, 443-553. Muhammad, H., Shah, B., Islam, Z. (2014), The impact of capital structure on firm performance. Evidence from Pakistan. Journal of Industrial Distribution and Business, 5(2), 13-20. Mwangi, L., Makau, M.S., Kosimbe, G. (2014), Relationship between capital structure and performance of non - financial companies listed in the Nairobi Securities Exchange, Kenya. Global Journal of Contemporary Research in Accounting, Auditing, and Business Ethics, 1(2), 72-89. Myers, S.C. (1984), The capital structure puzzle. The Journal Of Finance, XXXIX(3), 575-592. Nachum, L. (1999), Diversification strategies of developing country firms. Journal of International Management, 5(1),115-140. Pandey, I.M. (2001), Capital structure and the firm characteristics: Evidence from an emerging market. Online Publication. Available from: http:// www.iimahd.ernet.in/assets/snippets/workingpaperpdf/2001-10- 04IMPandey.pdf. [Last retrieved on 2011 Jun 25]. Peyrefitte, J., Brice, J. (2004), Product diversification and R & D investment: An empirical analysis of competing hypotheses. Organizational Analysis, 12(4), 379-394. Pratheepkanth, P. (2011), Capital structure and financial performance: Evidence from selected business companies in Colombo Stock Exchange Sri Lanka. Journal of Arts, Science and Commerce, II(2), 171-183. Rajan, R., Zingales, L. (1995), What do we know about capital structure? Some evidence from international data. The Journal of Finance, 50(5), 1421-1460. Ramezanalivaloujerdi, R., Rasiah, D., Narayanasamy, K. (2015), Corporate capital structure and performance of listed construction companies in Malaysia from 2005 – 2009. International Business Management, 9(3), 191-199. Sagara, S. (2015), The analysis of capital structure on financial performance using capital, assets earnings and liquidity ratios in Islamic banks listed on the Indonesia Stock Exchange (IDX) in 2014. International Journal of Business, Economics, and Law, 8(1), 53-60. Salim, M., Yadav, R. (2012), Capital structure and firm performance. Evidence from Malaysian listed companies. Procedia – Social and Behavioral Sciences, 65, 156-166. San, O.T., Heng, T.B. (2011), Capital structure and corporate performance of Malaysian construction sector. International Journal of Humanities and Social Science, 1(2), 28-36. Simerly, R.L., Li, M. (2000), Environmental dynamism, capital structure and performance: A theoretical integration and an empirical test. Strategic Management Journal, 21(1), 31-49. Su, G.S., Vo, H.T. (2010), The relationship between corporate strategy, capital structure and firm performance: An empirical study of the listed companies in Vietnam. International Research Journal of Finance and Economics, 50, 62-71. Syed, L.A.M., Rao, N.V. (2004), Diversification, financing decision and performance: An empirical evolution. Journal of Business and Public Affairs, 1, 32-39. Tudose, M.B. (2012), Capital structure and firm performance. Economic Transdiscplinary Cognition, 2(15), 76-82. Vincente-Lorente, J.D. (2001), Specificity and opacity as resource based determinants of capital structure: Evidence for Spanish manufacturing firms. Strategic Management Journal. 22(2), 157-177. Younus, S., Ishfaq, K., Usman, M., Azeem, M (2014), Capital structure and financial performance: Evidence from Sugar industry in Karachi Stock Exchange Pakistan. International Journal of Academic Research in Accounting, Finance and Management Sciences, 4(4), 272-279. Zeitun, R., Tian, G.G. (2007), Capital structure and corporate performance: Evidence from Jordan. The Australian Accounting Business and Finance Journal, 1(4), 40-61. Zhang, L., Yu, S. (2016), Research on the capital structure decisions of China logistics industry: Using the unbalanced panel data analysis. International Journal of Smart Home, 10(1), 169-180.
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7543-01-FH02-FESP-16-06460.jpg
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norman
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oai_dc
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https://intelek.unisza.edu.my/intelek/pages/view.php?ref=13234
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13234 https://intelek.unisza.edu.my/intelek/pages/view.php?ref=13234 https://intelek.unisza.edu.my/intelek/pages/search.php?search=!collection407072 Restricted Document Article Journal image/jpeg inches 96 96 norman 1421 22 22 778 2016-09-04 12:31:20 1421x778 7543-01-FH02-FESP-16-06460.jpg UniSZA Private Access Does financing decision influence corporate performance in Malaysia? International Journal of Economics and Financial Issues This paper examined the impact of financing decision on performance among Malaysian public listed firms in Bursa Malaysia. Previous studies did not examine the relationship between selection of capital structure and performance in the perspective of firms that implement industrial diversification strategy. This research comprised of 76 firms and covering balanced panel data series for the period of 1994-2007. The study observed that capitals structure has insignificant relationship with performance. However, it is recommended that firms should wary in using debt financing to finance business operation as it could lead to performance discount. Finding of the research contributed in explaining the capital structure decision made in the firms that implement industrial diversifications. Future research should investigate the option of firms that implement international diversification and its impact on corporate performance. 6 3 Econjournals Econjournals 1165-1171 Abor, J. (2005), The effect of capital structure on profitability: An empirical analysis of listed firms in Ghana. The Journal of Risk Finance, 65(5), 438-445. Akeem, L.B., Terer, E.K., Kiyanjui, M.W., Kayode, A.M. (2014), Effects of capital structure on firm’s performance. Empirical study of manufacturing companies in Nigeria. Journal of Finance and Investment Analysis, 3(4), 39-57. Akhtar, S. (2005), The determinants of capital structure for Australian multinational and domestic corporations. Australian Journal of Management, 30(2), 321-341. Allen, D.E. (1991), The determinants of the capital structure of listed Australian companies: The financial manager’s perspective. Australian Journal of Management, 16(2), 103-128. Bancel, F., Mittoo, U.R. (2002), The determinants of capital structure choice: A survey of European firms. Conference paper presents at European Financial Management Association and Multinational Financial Society. Available from: http://www.info.psu.edu.sa/psu/ fnm/engkungah/Article_Survey_capitalstructure_Europe.pdf. [Last retrieved on 2011 Jun 25]. Barton, S.L., Gordon, P.J. (1988), Corporate strategy and capital structure. Strategic Management Journal, 9(6), 623-632. Bettis, R.A. (1981), Performance differences in related and unrelated diversified firms. Strategic Management Journal, 2(4), 379-393. Booth, L., Aivazian, V., Kunt, A.D., Maksimovic, V. (2001), Capital structure in developing countries. The Journal of Finance, LVI(1), 87-130. Chang, C., Lee, A.C., Lee, C.F. (2005), Determinants of capital structure choice: A structural equation modeling approach. Online Publication. Available from: http://www.mgt.dyu.edu.tw/phm/ files/other/DeterminantsofCapitalStructure2.pdf. [Last retrieved on 2011 Jun 25]. Claessens, S., Djankov, S., Xu, L.C. (2000), Corporate performance in the East Asian financial crisis. World Bank Research Observer, 15, 23-46. Daud, W.M.N. (2014), Related and unrelated diversification strategy and performance. Unpublished Thesis. UiTM. Daves, P.R., Ehrhardt, M.C., Kuhlemeyer, G.A., Kunkel, R.A. (2000), Increases in the systematic risk of large firms. American Business Review, 18, 62-74. Eriotis, N. (2007), How firms characteristics affect capital structure: An empirical study. Managerial Finance, 33(5), 321-331. Graham, J.R. (2000), How big are the tax benefits of debt? The Journal Of Finance, 55(5), 1901-1942. Grant, R.M., Jammine, A.P., Thomas, H. (1988), Diversity, diversification, and profitability among British manufacturing companies, 1972-84. Academy of Management Journal, 31(4), 771-801. Gujarati, D.N., Porter, D.C. (2008), Basic Econometrics. 5th ed. NewYork: McGraw Hill Irwin. Junior, J.N., Funchal, B. (2013), The effects of corporate diversification on the capital structure of Brazilian firms. Revista Contabilidad and Finanzas, 24(62), 154-161. Kajananthan, R., Nimalthasan, P. (2013), Capital structure and its impact on firm perfomance. A study on Sri Lankan listed manufacturing companies. Merit Research Journals Business Management, 1(2), 37-44. Kjellman, A., Hansen, S. (1995), Determinants of capital structure: Theory vs practice. Scand. Journal Management, 11(2), 91-102. Kochhar, R. (1996), Explaining firm capital structure: The role of agency theory vs. transaction cost economics. Strategic Management Journal, 17(9), 713-728. Korajczyk, R., Levy, A. (2003), Capital structure choice: Macroeconomic conditions and financial constraints. Journal of Financial Economics, 68, 75-109. Kovenock, D., Philips, G. (1995), Capital structure and product-market rivalry: How do we reconcile theory and evidence? The American Economic Review, 85(2), 403-408. Lim, E.N.K., Das, S.S., Das, A. (2009), Diversification strategy, capital structure and the Asian financial crisis (1997-1998): Evidence from Singapore firms. Strategic Management Journal, 30, 577-594. Majumdar, S.K., Chhibber, P. (1999), Capital structure and performance: Evidence from a transition economy on an aspect of corporate governance. Public Choice, 98(3-4), 287-205. Masulis, R.W. (1983), The impact of capital structure change on firm value. The Journal of Finance, XXXVII(1), 107-126. Mitton, T. (2007), Why have debt ratios increases for firms in emerging markets. European Financial Management, 14(1), 127-151. Modigliani, F., Miller, M.H. (1958), The cost of capital, corporative finance and the theory of investment. The American Economic Review, XLVIII, 261-297. Modigliani, F., Miller, M.H. (1963), Corporate income taxes and the cost of capital; A correction. American Business Review, 53, 443-553. Muhammad, H., Shah, B., Islam, Z. (2014), The impact of capital structure on firm performance. Evidence from Pakistan. Journal of Industrial Distribution and Business, 5(2), 13-20. Mwangi, L., Makau, M.S., Kosimbe, G. (2014), Relationship between capital structure and performance of non - financial companies listed in the Nairobi Securities Exchange, Kenya. Global Journal of Contemporary Research in Accounting, Auditing, and Business Ethics, 1(2), 72-89. Myers, S.C. (1984), The capital structure puzzle. The Journal Of Finance, XXXIX(3), 575-592. Nachum, L. (1999), Diversification strategies of developing country firms. Journal of International Management, 5(1),115-140. Pandey, I.M. (2001), Capital structure and the firm characteristics: Evidence from an emerging market. Online Publication. Available from: http:// www.iimahd.ernet.in/assets/snippets/workingpaperpdf/2001-10- 04IMPandey.pdf. [Last retrieved on 2011 Jun 25]. Peyrefitte, J., Brice, J. (2004), Product diversification and R & D investment: An empirical analysis of competing hypotheses. Organizational Analysis, 12(4), 379-394. Pratheepkanth, P. (2011), Capital structure and financial performance: Evidence from selected business companies in Colombo Stock Exchange Sri Lanka. Journal of Arts, Science and Commerce, II(2), 171-183. Rajan, R., Zingales, L. (1995), What do we know about capital structure? Some evidence from international data. The Journal of Finance, 50(5), 1421-1460. Ramezanalivaloujerdi, R., Rasiah, D., Narayanasamy, K. (2015), Corporate capital structure and performance of listed construction companies in Malaysia from 2005 – 2009. International Business Management, 9(3), 191-199. Sagara, S. (2015), The analysis of capital structure on financial performance using capital, assets earnings and liquidity ratios in Islamic banks listed on the Indonesia Stock Exchange (IDX) in 2014. International Journal of Business, Economics, and Law, 8(1), 53-60. Salim, M., Yadav, R. (2012), Capital structure and firm performance. Evidence from Malaysian listed companies. Procedia – Social and Behavioral Sciences, 65, 156-166. San, O.T., Heng, T.B. (2011), Capital structure and corporate performance of Malaysian construction sector. International Journal of Humanities and Social Science, 1(2), 28-36. Simerly, R.L., Li, M. (2000), Environmental dynamism, capital structure and performance: A theoretical integration and an empirical test. Strategic Management Journal, 21(1), 31-49. Su, G.S., Vo, H.T. (2010), The relationship between corporate strategy, capital structure and firm performance: An empirical study of the listed companies in Vietnam. International Research Journal of Finance and Economics, 50, 62-71. Syed, L.A.M., Rao, N.V. (2004), Diversification, financing decision and performance: An empirical evolution. Journal of Business and Public Affairs, 1, 32-39. Tudose, M.B. (2012), Capital structure and firm performance. Economic Transdiscplinary Cognition, 2(15), 76-82. Vincente-Lorente, J.D. (2001), Specificity and opacity as resource based determinants of capital structure: Evidence for Spanish manufacturing firms. Strategic Management Journal. 22(2), 157-177. Younus, S., Ishfaq, K., Usman, M., Azeem, M (2014), Capital structure and financial performance: Evidence from Sugar industry in Karachi Stock Exchange Pakistan. International Journal of Academic Research in Accounting, Finance and Management Sciences, 4(4), 272-279. Zeitun, R., Tian, G.G. (2007), Capital structure and corporate performance: Evidence from Jordan. The Australian Accounting Business and Finance Journal, 1(4), 40-61. Zhang, L., Yu, S. (2016), Research on the capital structure decisions of China logistics industry: Using the unbalanced panel data analysis. International Journal of Smart Home, 10(1), 169-180.
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| spellingShingle |
Does financing decision influence corporate performance in Malaysia?
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| summary |
This paper examined the impact of financing decision on performance among Malaysian public listed firms in Bursa Malaysia. Previous studies did not examine the relationship between selection of capital structure and performance in the perspective of firms that implement industrial diversification strategy. This research comprised of 76 firms and covering balanced panel data series for the period of 1994-2007. The study observed that capitals structure has insignificant relationship with performance. However, it is recommended that firms should wary in using debt financing to finance business operation as it could lead to performance discount. Finding of the research contributed in explaining the capital structure decision made in the firms that implement industrial diversifications. Future research should investigate the option of firms that implement international diversification and its impact on corporate performance.
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| title |
Does financing decision influence corporate performance in Malaysia?
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| title_full |
Does financing decision influence corporate performance in Malaysia?
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| title_fullStr |
Does financing decision influence corporate performance in Malaysia?
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| title_full_unstemmed |
Does financing decision influence corporate performance in Malaysia?
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| title_short |
Does financing decision influence corporate performance in Malaysia?
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| title_sort |
does financing decision influence corporate performance in malaysia?
|