Ownership Concentration and Debt Structure: Evidence from Top 100 PLCs in Malaysia
This study examines the impact of ownership concentration on debt structure. Based on market capitalisation, we obtained financial and governance data from Top 100 public listed companies in Malaysia for the period 2011-2015. Ordinary least squares and fixed-effect panel models were employed for exa...
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| Format: | Article |
| Language: | English |
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University of Malaya
2018
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| Online Access: | http://umpir.ump.edu.my/id/eprint/21361/1/Ownership%20Concentration%20and%20Debt-fim-2018.pdf |
| _version_ | 1796992747901550592 |
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| author | Neshaleni, S. Paramanantham Irene, Wei Kiong Ting Qian, Long Kweh |
| author_facet | Neshaleni, S. Paramanantham Irene, Wei Kiong Ting Qian, Long Kweh |
| author_sort | Neshaleni, S. Paramanantham |
| collection | UMP |
| description | This study examines the impact of ownership concentration on debt structure. Based on market capitalisation, we obtained financial and governance data from Top 100 public listed companies in Malaysia for the period 2011-2015. Ordinary least squares and fixed-effect panel models were employed for examining data. The regression results showed that ownership held by the top five shareholders significantly and negatively affected long term debt and total debt ratios. The results remain qualitatively similar in both estimations using the ordinary least squares and fixed-effect panel models. In summary, this study offers some insights into how concentrated ownership influence corporate debt structure. |
| first_indexed | 2024-03-06T12:24:19Z |
| format | Article |
| id | UMPir21361 |
| institution | Universiti Malaysia Pahang |
| language | English |
| last_indexed | 2024-03-06T12:24:19Z |
| publishDate | 2018 |
| publisher | University of Malaya |
| record_format | dspace |
| spelling | UMPir213612022-04-13T05:01:45Z http://umpir.ump.edu.my/id/eprint/21361/ Ownership Concentration and Debt Structure: Evidence from Top 100 PLCs in Malaysia Neshaleni, S. Paramanantham Irene, Wei Kiong Ting Qian, Long Kweh HD28 Management. Industrial Management This study examines the impact of ownership concentration on debt structure. Based on market capitalisation, we obtained financial and governance data from Top 100 public listed companies in Malaysia for the period 2011-2015. Ordinary least squares and fixed-effect panel models were employed for examining data. The regression results showed that ownership held by the top five shareholders significantly and negatively affected long term debt and total debt ratios. The results remain qualitatively similar in both estimations using the ordinary least squares and fixed-effect panel models. In summary, this study offers some insights into how concentrated ownership influence corporate debt structure. University of Malaya 2018 Article PeerReviewed application/pdf en http://umpir.ump.edu.my/id/eprint/21361/1/Ownership%20Concentration%20and%20Debt-fim-2018.pdf Neshaleni, S. Paramanantham and Irene, Wei Kiong Ting and Qian, Long Kweh (2018) Ownership Concentration and Debt Structure: Evidence from Top 100 PLCs in Malaysia. Institutions and Economies, 10 (3). pp. 1-13. ISSN 2232-1349. (Published) https://ijie.um.edu.my/index.php/ijie/article/view/11946 |
| spellingShingle | HD28 Management. Industrial Management Neshaleni, S. Paramanantham Irene, Wei Kiong Ting Qian, Long Kweh Ownership Concentration and Debt Structure: Evidence from Top 100 PLCs in Malaysia |
| title | Ownership Concentration and Debt Structure: Evidence from Top 100 PLCs in Malaysia |
| title_full | Ownership Concentration and Debt Structure: Evidence from Top 100 PLCs in Malaysia |
| title_fullStr | Ownership Concentration and Debt Structure: Evidence from Top 100 PLCs in Malaysia |
| title_full_unstemmed | Ownership Concentration and Debt Structure: Evidence from Top 100 PLCs in Malaysia |
| title_short | Ownership Concentration and Debt Structure: Evidence from Top 100 PLCs in Malaysia |
| title_sort | ownership concentration and debt structure evidence from top 100 plcs in malaysia |
| topic | HD28 Management. Industrial Management |
| url | http://umpir.ump.edu.my/id/eprint/21361/1/Ownership%20Concentration%20and%20Debt-fim-2018.pdf |
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