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Capital structure of government-linked companies in Malaysia

This study investigates the cross-sectional variation in leverage among publicly listed Government Linked Companies (GLCs) and non-GLCs (NGLCs) in Malaysia for the period from 1997 to 2008. The study uses balanced panel data with multivariate regression as the method of analysis. Results reveal that...

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Main Authors: Ting I.W.K., Lean H.H.
Other Authors: 57211409300
Format: Article
Published: 2023
Subjects:
Capital structure
Debt ratios
GLCs
Malaysia
NGLCs
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id my.uniten.dspace-30260
record_format dspace
spelling my.uniten.dspace-302602023-12-29T15:46:01Z Capital structure of government-linked companies in Malaysia Ting I.W.K. Lean H.H. 57211409300 15849147600 Capital structure Debt ratios GLCs Malaysia NGLCs This study investigates the cross-sectional variation in leverage among publicly listed Government Linked Companies (GLCs) and non-GLCs (NGLCs) in Malaysia for the period from 1997 to 2008. The study uses balanced panel data with multivariate regression as the method of analysis. Results reveal that the GLCs are consistently more heavily leveraged than NGLCs. The findings indicate a significantly positive association between debt ratio (DR) and tangible assets but a negative relationship between DR and profitability for both GLCs and NGLCs. However, firm size is significantly negatively related to DR for GLCs and significantly positively related to DR for NGLCs. The study also finds that tangible assets and profitability have an inverse relationship with long-term debt. There is a significant negative association between asset structure, profitability and short-term debt. However, firm growth and cash flow have no influence on the determination of short-term and long-term debt. � Asian Academy of Management and Penerbit Universiti Sains Malaysia, 2011. Final 2023-12-29T07:46:01Z 2023-12-29T07:46:01Z 2012 Article 2-s2.0-84862748824 https://www.scopus.com/inward/record.uri?eid=2-s2.0-84862748824&partnerID=40&md5=29e7fe32eb8029f6427623d13f13a257 https://irepository.uniten.edu.my/handle/123456789/30260 7 2 137 156 Scopus
institution Universiti Tenaga Nasional
building UNITEN Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Tenaga Nasional
content_source UNITEN Institutional Repository
url_provider http://dspace.uniten.edu.my/
topic Capital structure
Debt ratios
GLCs
Malaysia
NGLCs
spellingShingle Capital structure
Debt ratios
GLCs
Malaysia
NGLCs
Ting I.W.K.
Lean H.H.
Capital structure of government-linked companies in Malaysia
description This study investigates the cross-sectional variation in leverage among publicly listed Government Linked Companies (GLCs) and non-GLCs (NGLCs) in Malaysia for the period from 1997 to 2008. The study uses balanced panel data with multivariate regression as the method of analysis. Results reveal that the GLCs are consistently more heavily leveraged than NGLCs. The findings indicate a significantly positive association between debt ratio (DR) and tangible assets but a negative relationship between DR and profitability for both GLCs and NGLCs. However, firm size is significantly negatively related to DR for GLCs and significantly positively related to DR for NGLCs. The study also finds that tangible assets and profitability have an inverse relationship with long-term debt. There is a significant negative association between asset structure, profitability and short-term debt. However, firm growth and cash flow have no influence on the determination of short-term and long-term debt. � Asian Academy of Management and Penerbit Universiti Sains Malaysia, 2011.
author2 57211409300
author_facet 57211409300
Ting I.W.K.
Lean H.H.
format Article
author Ting I.W.K.
Lean H.H.
author_sort Ting I.W.K.
title Capital structure of government-linked companies in Malaysia
title_short Capital structure of government-linked companies in Malaysia
title_full Capital structure of government-linked companies in Malaysia
title_fullStr Capital structure of government-linked companies in Malaysia
title_full_unstemmed Capital structure of government-linked companies in Malaysia
title_sort capital structure of government-linked companies in malaysia
publishDate 2023
_version_ 1806425643615780864
score 13.222552

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