Dynamic capital structure and political patronage: the case of Malaysia

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Dynamic capital structure and political patronage: the case of Malaysia

This paper investigates the effect of political patronage on firms' capital structure. The evidence is from Malaysia, a country characterised by relationship-capitalism, and covers 1988 to 2009. Using a system GMM estimator we find firms set leverage targets and adjust towards them following de...

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Bibliographic Details
Main Authors:	Ebrahim, M. Shahid, Girma, Sourafel, Shah, M. Eskandar, Williams, Jonathan
Format:	Article
Published:	Elsevier 2014
Subjects:	Asian financial crisis Capital structure Political patronage
Online Access:	https://eprints.nottingham.ac.uk/47146/

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