The Capital Structure Of Malaysian Firms In The Aftermath Of Asian Financial Crisis 1997
The Asian Financial Crisis 1997 had revealed the issues of excessive leverage that caused the firms in Malaysia for being vulnerable to the economic turmoil. Hence, capital structuring and particularly the establishment of the contingent capital structure have been the central concern. Grounded on...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
EBSCO
2014
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| Online Access: | http://ir.unimas.my/id/eprint/18129/ http://ir.unimas.my/id/eprint/18129/7/THE%20CAPITAL%20STRUCTURE%20OF%20MALAYSIAN%20FIRMS%20IN%20THE%20AFTERMATH%20OF%20ASIAN%20%28abstract%29.pdf |
| _version_ | 1848838443706089472 |
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| author | Liew, Lewis Teo Piaw Mohamad, Jais |
| author_facet | Liew, Lewis Teo Piaw Mohamad, Jais |
| author_sort | Liew, Lewis Teo Piaw |
| building | UNIMAS Institutional Repository |
| collection | Online Access |
| description | The Asian Financial Crisis 1997 had revealed the issues of excessive leverage that caused the firms in
Malaysia for being vulnerable to the economic turmoil. Hence, capital structuring and particularly the
establishment of the contingent capital structure have been the central concern. Grounded on the
contingency theory and the traditional capital structure theories, this study intends to identify what
constitutes organizational-environmental fit to the contingent capital structure in Malaysia and how fast
they had adjusted towards their contingent capital structure in the aftermath of the crisis. The findings
reveal that while Malaysia has successfully sustained the firms’ leverage to a lower level, it was not so
successful to ensure speedy adjustment given its rigorous institutional settings and also access to
financial and capital market. A better understanding of the contingent capital structure formulation and
adjustment process via fresh empirical evidence do not only provide insights to the practitioners into the
adaptation strategy but also have important implications for the design and implementation of the
financial reforms in addressing future crisis. |
| first_indexed | 2025-11-15T06:55:38Z |
| format | Article |
| id | unimas-18129 |
| institution | Universiti Malaysia Sarawak |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-15T06:55:38Z |
| publishDate | 2014 |
| publisher | EBSCO |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | unimas-181292017-10-17T01:44:44Z http://ir.unimas.my/id/eprint/18129/ The Capital Structure Of Malaysian Firms In The Aftermath Of Asian Financial Crisis 1997 Liew, Lewis Teo Piaw Mohamad, Jais HG Finance The Asian Financial Crisis 1997 had revealed the issues of excessive leverage that caused the firms in Malaysia for being vulnerable to the economic turmoil. Hence, capital structuring and particularly the establishment of the contingent capital structure have been the central concern. Grounded on the contingency theory and the traditional capital structure theories, this study intends to identify what constitutes organizational-environmental fit to the contingent capital structure in Malaysia and how fast they had adjusted towards their contingent capital structure in the aftermath of the crisis. The findings reveal that while Malaysia has successfully sustained the firms’ leverage to a lower level, it was not so successful to ensure speedy adjustment given its rigorous institutional settings and also access to financial and capital market. A better understanding of the contingent capital structure formulation and adjustment process via fresh empirical evidence do not only provide insights to the practitioners into the adaptation strategy but also have important implications for the design and implementation of the financial reforms in addressing future crisis. EBSCO 2014 Article PeerReviewed text en http://ir.unimas.my/id/eprint/18129/7/THE%20CAPITAL%20STRUCTURE%20OF%20MALAYSIAN%20FIRMS%20IN%20THE%20AFTERMATH%20OF%20ASIAN%20%28abstract%29.pdf Liew, Lewis Teo Piaw and Mohamad, Jais (2014) The Capital Structure Of Malaysian Firms In The Aftermath Of Asian Financial Crisis 1997. Journal of Global Business & Economics, 8 (1). ISSN 2180-3625 http://web.b.ebscohost.com/ehost/detail/detail?vid=1&sid=8ec823bb-6214-4e07-8ea7-dc311c1a35b7%40sessionmgr103&bdata=JnNpdGU9ZWhvc3QtbGl2ZQ%3d%3d#AN=95404689&db=bth |
| spellingShingle | HG Finance Liew, Lewis Teo Piaw Mohamad, Jais The Capital Structure Of Malaysian Firms In The Aftermath Of Asian Financial Crisis 1997 |
| title | The Capital Structure Of Malaysian Firms In The Aftermath Of Asian Financial Crisis 1997 |
| title_full | The Capital Structure Of Malaysian Firms In The Aftermath Of Asian Financial Crisis 1997 |
| title_fullStr | The Capital Structure Of Malaysian Firms In The Aftermath Of Asian Financial Crisis 1997 |
| title_full_unstemmed | The Capital Structure Of Malaysian Firms In The Aftermath Of Asian Financial Crisis 1997 |
| title_short | The Capital Structure Of Malaysian Firms In The Aftermath Of Asian Financial Crisis 1997 |
| title_sort | capital structure of malaysian firms in the aftermath of asian financial crisis 1997 |
| topic | HG Finance |
| url | http://ir.unimas.my/id/eprint/18129/ http://ir.unimas.my/id/eprint/18129/ http://ir.unimas.my/id/eprint/18129/7/THE%20CAPITAL%20STRUCTURE%20OF%20MALAYSIAN%20FIRMS%20IN%20THE%20AFTERMATH%20OF%20ASIAN%20%28abstract%29.pdf |