Was bail-out a success? Evidence from the investment-cash flow relationship = Adakah dasar menjamin keluar berjaya? Bukti daripada hubungan aliran tunai-pelaburan

Was bail-out a success? Evidence from the investment-cash flow relationship = Adakah dasar menjamin keluar berjaya? Bukti daripada hubungan aliran tunai-pelaburan

The 1997-1998 Asian financial crisis affected the balance sheets of many Malaysian firms, which increased the financial constraints on such firms. To counter the impacts, the Malaysian government carried out various directed policy measures known collectively as the bail-out policy. The present pape...

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Main Authors: Ismail, Mohd Adib, Ibrahim, Mansor, Zainal, Mohd-Pisal, Yusoff, Mohammed
Format: Article
Language:English
English
Published: Penerbit UKM 2013
Subjects:
HG3691 Credit
Online Access:http://irep.iium.edu.my/57669/
http://irep.iium.edu.my/57669/
http://irep.iium.edu.my/57669/1/Was%20a%20bail%20out%20a%20success%20%20Adib%20Journal%20Ekonomi.pdf
http://irep.iium.edu.my/57669/7/57669-Was%20bail-out%20a%20success_SCOPUS.pdf
id iium-57669
recordtype eprints
spelling iium-576692018-01-11T02:30:18Z http://irep.iium.edu.my/57669/ Was bail-out a success? Evidence from the investment-cash flow relationship = Adakah dasar menjamin keluar berjaya? Bukti daripada hubungan aliran tunai-pelaburan Ismail, Mohd Adib Ibrahim, Mansor Zainal, Mohd-Pisal Yusoff, Mohammed HG3691 Credit The 1997-1998 Asian financial crisis affected the balance sheets of many Malaysian firms, which increased the financial constraints on such firms. To counter the impacts, the Malaysian government carried out various directed policy measures known collectively as the bail-out policy. The present paper examines the success of the policy to reduce the financial constraints. The present paper uses panel estimation methods to analyze the relationship between firms’ investments and their cash flows. The sample of study is split into two subsamples, consisting of the periods before and after the financial crisis, respectively. The success of the policy is measured based upon the easing of financial constraints faced by Malaysian firms. Using annual financial data, consisting of unbalanced panel from the period of 1988 to 2005, the results found favour the bail-out policy. This finding indicates the success of the bail-out policy to reduce the severity of financial constraints. Krisis kewangan Asia pada tahun 1997-1998 telah memberi kesan ke atas kunci kira-kira banyak firma Malaysia yang boleh menyebabkan berlaku kekangan kewangan. Untuk mengatasi impak ini, kerajaan Malaysia telah melaksanakan pelbagai bentuk dasar terarah yang dikenali sebagai dasar jaminan keluar. Oleh itu, kertas kerja ini bertujuan untuk mengkaji kejayaan dasar tersebut untuk mengurangi kesan kekangan kewangan. Kertas kerja ini menggunakan kaedah penganggaran panel untuk menganalisis hubungan antara pelaburan firma dan aliran tunai. Sampel kajian dipecahkan kepada dua subsampel masa sebelum dan selepas krisis kewangan. Kejayaan dasar jamin keluar adalah bergantung kepada keringanan kekangan kewangan. Dengan menggunakan data panel tidak seimbang bagi tahun 1988 hingga 2005, keputusan kajian menunjukkan sokongan kepada dasar jaminan keluar. Dapatan kajian ini menunjukkan kejayaan perlaksanaan dasar jamin keluar untuk mengurangkan tekanan kekangan kewangan. Penerbit UKM 2013 Article PeerReviewed application/pdf en http://irep.iium.edu.my/57669/1/Was%20a%20bail%20out%20a%20success%20%20Adib%20Journal%20Ekonomi.pdf application/pdf en http://irep.iium.edu.my/57669/7/57669-Was%20bail-out%20a%20success_SCOPUS.pdf Ismail, Mohd Adib and Ibrahim, Mansor and Zainal, Mohd-Pisal and Yusoff, Mohammed (2013) Was bail-out a success? Evidence from the investment-cash flow relationship = Adakah dasar menjamin keluar berjaya? Bukti daripada hubungan aliran tunai-pelaburan. Jurnal Ekonomi Malaysia, 47 (1). 31 - 40. ISSN 0126-1962 http://www.ukm.my/fep/jem/pdf/2013-47(1)/jeko_47(1)-4.pdf
repository_type Digital Repository
institution_category Local University
institution International Islamic University Malaysia
building IIUM Repository
collection Online Access
language English
English
topic HG3691 Credit
spellingShingle HG3691 Credit
Ismail, Mohd Adib
Ibrahim, Mansor
Zainal, Mohd-Pisal
Yusoff, Mohammed
Was bail-out a success? Evidence from the investment-cash flow relationship = Adakah dasar menjamin keluar berjaya? Bukti daripada hubungan aliran tunai-pelaburan
description The 1997-1998 Asian financial crisis affected the balance sheets of many Malaysian firms, which increased the financial constraints on such firms. To counter the impacts, the Malaysian government carried out various directed policy measures known collectively as the bail-out policy. The present paper examines the success of the policy to reduce the financial constraints. The present paper uses panel estimation methods to analyze the relationship between firms’ investments and their cash flows. The sample of study is split into two subsamples, consisting of the periods before and after the financial crisis, respectively. The success of the policy is measured based upon the easing of financial constraints faced by Malaysian firms. Using annual financial data, consisting of unbalanced panel from the period of 1988 to 2005, the results found favour the bail-out policy. This finding indicates the success of the bail-out policy to reduce the severity of financial constraints. Krisis kewangan Asia pada tahun 1997-1998 telah memberi kesan ke atas kunci kira-kira banyak firma Malaysia yang boleh menyebabkan berlaku kekangan kewangan. Untuk mengatasi impak ini, kerajaan Malaysia telah melaksanakan pelbagai bentuk dasar terarah yang dikenali sebagai dasar jaminan keluar. Oleh itu, kertas kerja ini bertujuan untuk mengkaji kejayaan dasar tersebut untuk mengurangi kesan kekangan kewangan. Kertas kerja ini menggunakan kaedah penganggaran panel untuk menganalisis hubungan antara pelaburan firma dan aliran tunai. Sampel kajian dipecahkan kepada dua subsampel masa sebelum dan selepas krisis kewangan. Kejayaan dasar jamin keluar adalah bergantung kepada keringanan kekangan kewangan. Dengan menggunakan data panel tidak seimbang bagi tahun 1988 hingga 2005, keputusan kajian menunjukkan sokongan kepada dasar jaminan keluar. Dapatan kajian ini menunjukkan kejayaan perlaksanaan dasar jamin keluar untuk mengurangkan tekanan kekangan kewangan.
format Article
author Ismail, Mohd Adib
Ibrahim, Mansor
Zainal, Mohd-Pisal
Yusoff, Mohammed
author_facet Ismail, Mohd Adib
Ibrahim, Mansor
Zainal, Mohd-Pisal
Yusoff, Mohammed
author_sort Ismail, Mohd Adib
title Was bail-out a success? Evidence from the investment-cash flow relationship = Adakah dasar menjamin keluar berjaya? Bukti daripada hubungan aliran tunai-pelaburan
title_short Was bail-out a success? Evidence from the investment-cash flow relationship = Adakah dasar menjamin keluar berjaya? Bukti daripada hubungan aliran tunai-pelaburan
title_full Was bail-out a success? Evidence from the investment-cash flow relationship = Adakah dasar menjamin keluar berjaya? Bukti daripada hubungan aliran tunai-pelaburan
title_fullStr Was bail-out a success? Evidence from the investment-cash flow relationship = Adakah dasar menjamin keluar berjaya? Bukti daripada hubungan aliran tunai-pelaburan
title_full_unstemmed Was bail-out a success? Evidence from the investment-cash flow relationship = Adakah dasar menjamin keluar berjaya? Bukti daripada hubungan aliran tunai-pelaburan
title_sort was bail-out a success? evidence from the investment-cash flow relationship = adakah dasar menjamin keluar berjaya? bukti daripada hubungan aliran tunai-pelaburan
publisher Penerbit UKM
publishDate 2013
url http://irep.iium.edu.my/57669/
http://irep.iium.edu.my/57669/
http://irep.iium.edu.my/57669/1/Was%20a%20bail%20out%20a%20success%20%20Adib%20Journal%20Ekonomi.pdf
http://irep.iium.edu.my/57669/7/57669-Was%20bail-out%20a%20success_SCOPUS.pdf
first_indexed 2023-09-18T21:21:32Z
last_indexed 2023-09-18T21:21:32Z
_version_ 1777411914719035392

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