Capital Structure of Malaysian Companies: Are They Different during the COVID-19 Pandemic?

• 발행기관: 한국유통과학회
• 저자명: Nor Khadijah MOHD AZHARI Radziah MAHMUD Sara Naquia Hanim SHAHARUDDIN
• 간행물 정보: 『The Journal of Asian Finance, Economics and Business(JAFEB)』The Journal of Asian Finance, Economics, and Business Vol. 9 No.4, 239~250쪽, 전체 12쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 2022.04.30

영문 초록

This study examined the level of capital structure and its determinants of publicly traded companies in Malaysia before and after the COVID-19 pandemic. The data for this study was examined using Python Programming Language and time-series financial data from 2,784 quarterly observations in 2019 and 2020. The maximum debt is larger before the COVID-19 period, according to the findings. During the COVID-19 period, short-term debts and total debts have both decreased slightly. However, long-term debts have increased marginally. As a result, this research demonstrates that the capital structure has changed slightly during the COVID-19 period. The findings imply that independent of the capital structure proxies, tangibility, liquidity, and business size had an impact on capital structure in both periods. It was found that profitability had a significant impact on total debts both before and after the COVID-19 crisis. While higher-profit enterprises appear to have lesser short-term debts before the COVID-19 periods, they are also more likely to have lower long-term debts during the COVID-19 periods. Even though growing companies tend to have higher short-term debts and thus total debts during those periods, longterm debts are unaffected by potential growth.

목차

1. Introduction

2. Literature Review

3. Methodology

4. Results and Discussion

5. Conclusion

References

키워드

Capital Structure Firm-Specific Characteristics COVID-19 Python Programming