Key factors influencing target capital structure of property firms in Malaysia

Very limited studies have been done on the capital structure of property firms in Malaysia emphasizing on the existence of target capital leverage, the affecting determinants and the speed of adjustment to target. Thus, the objective of this study is to investigate these issues among the property fi...

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Main Author:	Haron, Razali
Format:	Conference or Workshop Item
Language:	English
Published:	2013
Subjects:	HG4001 Financial management. Business finance. Corporation finance.
Online Access:	http://irep.iium.edu.my/31136/ http://irep.iium.edu.my/31136/1/Key_Factors_Influencing_Target_Capital_Structure.pdf

id	iium-31136
recordtype	eprints
spelling	iium-311362013-09-14T11:28:12Z http://irep.iium.edu.my/31136/ Key factors influencing target capital structure of property firms in Malaysia Haron, Razali HG4001 Financial management. Business finance. Corporation finance. Very limited studies have been done on the capital structure of property firms in Malaysia emphasizing on the existence of target capital leverage, the affecting determinants and the speed of adjustment to target. Thus, the objective of this study is to investigate these issues among the property firms in Malaysia by using a dynamic model. This study found that these property firms do practice target capital structure which is influenced by certain firm characteristics like tax shield, asset structure, profitability, firm size, growth opportunity and liquidity in their capital structure and they also time their security issuance. Being deviated from target from time to time these property firms partially adjust indicating a support for the dynamic trade-off theory. There are also influences of the pecking order and the market timing theories in the capital structure decisions of these property firms. This study contributes to the literature by offering insights of the capital structure practice and the speed of adjustment to target capital structure of property firms in Malaysia and fill the gap in the literature. 2013-07-02 Conference or Workshop Item PeerReviewed application/pdf en http://irep.iium.edu.my/31136/1/Key_Factors_Influencing_Target_Capital_Structure.pdf Haron, Razali (2013) Key factors influencing target capital structure of property firms in Malaysia. In: Seminar Hasil Penyelidikan Sektor Pengajian Tinggi Kementerian Pendidikan Malaysia, Ke-3, 2-3 July 2013, EDC, Universiti Utara Malaysia.
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	HG4001 Financial management. Business finance. Corporation finance.
spellingShingle	HG4001 Financial management. Business finance. Corporation finance. Haron, Razali Key factors influencing target capital structure of property firms in Malaysia
description	Very limited studies have been done on the capital structure of property firms in Malaysia emphasizing on the existence of target capital leverage, the affecting determinants and the speed of adjustment to target. Thus, the objective of this study is to investigate these issues among the property firms in Malaysia by using a dynamic model. This study found that these property firms do practice target capital structure which is influenced by certain firm characteristics like tax shield, asset structure, profitability, firm size, growth opportunity and liquidity in their capital structure and they also time their security issuance. Being deviated from target from time to time these property firms partially adjust indicating a support for the dynamic trade-off theory. There are also influences of the pecking order and the market timing theories in the capital structure decisions of these property firms. This study contributes to the literature by offering insights of the capital structure practice and the speed of adjustment to target capital structure of property firms in Malaysia and fill the gap in the literature.
format	Conference or Workshop Item
author	Haron, Razali
author_facet	Haron, Razali
author_sort	Haron, Razali
title	Key factors influencing target capital structure of property firms in Malaysia
title_short	Key factors influencing target capital structure of property firms in Malaysia
title_full	Key factors influencing target capital structure of property firms in Malaysia
title_fullStr	Key factors influencing target capital structure of property firms in Malaysia
title_full_unstemmed	Key factors influencing target capital structure of property firms in Malaysia
title_sort	key factors influencing target capital structure of property firms in malaysia
publishDate	2013
url	http://irep.iium.edu.my/31136/ http://irep.iium.edu.my/31136/1/Key_Factors_Influencing_Target_Capital_Structure.pdf
first_indexed	2023-09-18T20:45:23Z
last_indexed	2023-09-18T20:45:23Z
_version_	1777409639876395008

Key factors influencing target capital structure of property firms in Malaysia

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