Financial constraints on firm growth: the role of firm age in the ASEAN–6
The paper assesses the moderating role of firm age in the relationship between financial constraints, as measured by the KZ index, and the WW index on three alternative measures of firm growth (Asset growth, ROA, and ROE) in the ASEAN–6 region. This study employs a sample of ASEAN–6 listed firms ove...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
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Liverpool University Press
2024
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| Online Access: | http://psasir.upm.edu.my/id/eprint/117476/ http://psasir.upm.edu.my/id/eprint/117476/1/117476.pdf |
| _version_ | 1848867259649359872 |
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| author | Ling Ng, Yee Theng Lau, Wei Ni Soh, Wei Ab Razak, Nazrul Hisyam |
| author_facet | Ling Ng, Yee Theng Lau, Wei Ni Soh, Wei Ab Razak, Nazrul Hisyam |
| author_sort | Ling Ng, Yee |
| building | UPM Institutional Repository |
| collection | Online Access |
| description | The paper assesses the moderating role of firm age in the relationship between financial constraints, as measured by the KZ index, and the WW index on three alternative measures of firm growth (Asset growth, ROA, and ROE) in the ASEAN–6 region. This study employs a sample of ASEAN–6 listed firms over the period 2009–2019 using Fixed Effects and the System GMM model. Firm age is found to interact positively with financial constraints in their effects on firm growth. The negative impact of financial constraints on firm growth is less severe with older age firms. |
| first_indexed | 2025-11-15T14:33:39Z |
| format | Article |
| id | upm-117476 |
| institution | Universiti Putra Malaysia |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-15T14:33:39Z |
| publishDate | 2024 |
| publisher | Liverpool University Press |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | upm-1174762025-05-26T09:22:00Z http://psasir.upm.edu.my/id/eprint/117476/ Financial constraints on firm growth: the role of firm age in the ASEAN–6 Ling Ng, Yee Theng Lau, Wei Ni Soh, Wei Ab Razak, Nazrul Hisyam The paper assesses the moderating role of firm age in the relationship between financial constraints, as measured by the KZ index, and the WW index on three alternative measures of firm growth (Asset growth, ROA, and ROE) in the ASEAN–6 region. This study employs a sample of ASEAN–6 listed firms over the period 2009–2019 using Fixed Effects and the System GMM model. Firm age is found to interact positively with financial constraints in their effects on firm growth. The negative impact of financial constraints on firm growth is less severe with older age firms. Liverpool University Press 2024-03-28 Article PeerReviewed text en cc_by_nc_nd_4 http://psasir.upm.edu.my/id/eprint/117476/1/117476.pdf Ling Ng, Yee and Theng Lau, Wei and Ni Soh, Wei and Ab Razak, Nazrul Hisyam (2024) Financial constraints on firm growth: the role of firm age in the ASEAN–6. Sculpture Journal, 27 (1). pp. 93-111. ISSN 1366-2724; eISSN: 1756-9923 https://czasopisma.uni.lodz.pl/CER/article/view/22760 10.18778/1508-2008.27.05 |
| spellingShingle | Ling Ng, Yee Theng Lau, Wei Ni Soh, Wei Ab Razak, Nazrul Hisyam Financial constraints on firm growth: the role of firm age in the ASEAN–6 |
| title | Financial constraints on firm growth: the role of firm age in the ASEAN–6 |
| title_full | Financial constraints on firm growth: the role of firm age in the ASEAN–6 |
| title_fullStr | Financial constraints on firm growth: the role of firm age in the ASEAN–6 |
| title_full_unstemmed | Financial constraints on firm growth: the role of firm age in the ASEAN–6 |
| title_short | Financial constraints on firm growth: the role of firm age in the ASEAN–6 |
| title_sort | financial constraints on firm growth: the role of firm age in the asean–6 |
| url | http://psasir.upm.edu.my/id/eprint/117476/ http://psasir.upm.edu.my/id/eprint/117476/ http://psasir.upm.edu.my/id/eprint/117476/ http://psasir.upm.edu.my/id/eprint/117476/1/117476.pdf |