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 presence of target capital structure and the affecting determinants and also the speed of adjustment to target leverage. Thus, this study aims to investigate these issues among the propert...

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Main Author:	Haron, Razali
Format:	Article
Language:	English English
Published:	Canadian Center of Science and Education 2014
Subjects:	HG4001 Financial management. Business finance. Corporation finance.
Online Access:	http://irep.iium.edu.my/34993/ http://irep.iium.edu.my/34993/ http://irep.iium.edu.my/34993/ http://irep.iium.edu.my/34993/1/33839-114653-1-SM.pdf http://irep.iium.edu.my/34993/4/34993_Key%20factors%20influencing%20target%20capital%20structure%20of%20property%20firms%20in%20Malaysia_SCOPUS.pdf

id	iium-34993
recordtype	eprints
spelling	iium-349932017-09-06T01:57:15Z http://irep.iium.edu.my/34993/ 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 presence of target capital structure and the affecting determinants and also the speed of adjustment to target leverage. Thus, this study aims to investigate these issues among the property firms in Malaysia by using a dynamic model. This study finds that these property firms do practice target capital structure which is influenced by certain firm characteristics like non-debt 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 adjustment speed to target capital structure of property firms in Malaysia and fills the gap in the literature. Canadian Center of Science and Education 2014-01-27 Article PeerReviewed application/pdf en http://irep.iium.edu.my/34993/1/33839-114653-1-SM.pdf application/pdf en http://irep.iium.edu.my/34993/4/34993_Key%20factors%20influencing%20target%20capital%20structure%20of%20property%20firms%20in%20Malaysia_SCOPUS.pdf Haron, Razali (2014) Key factors influencing target capital structure of property firms in Malaysia. Asian Social Science, 10 (3). pp. 62-69. ISSN 1911-2025 (O), 1911-2017 (P) http://www.ccsenet.org/journal/index.php/ass 10.5539/ass.v10n3p62
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English 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 presence of target capital structure and the affecting determinants and also the speed of adjustment to target leverage. Thus, this study aims to investigate these issues among the property firms in Malaysia by using a dynamic model. This study finds that these property firms do practice target capital structure which is influenced by certain firm characteristics like non-debt 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 adjustment speed to target capital structure of property firms in Malaysia and fills the gap in the literature.
format	Article
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
publisher	Canadian Center of Science and Education
publishDate	2014
url	http://irep.iium.edu.my/34993/ http://irep.iium.edu.my/34993/ http://irep.iium.edu.my/34993/ http://irep.iium.edu.my/34993/1/33839-114653-1-SM.pdf http://irep.iium.edu.my/34993/4/34993_Key%20factors%20influencing%20target%20capital%20structure%20of%20property%20firms%20in%20Malaysia_SCOPUS.pdf
first_indexed	2023-09-18T20:50:18Z
last_indexed	2023-09-18T20:50:18Z
_version_	1777409949143400448

Key factors influencing target capital structure of property firms in Malaysia

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