Citation
Matemilola, Bolaji Tunde and Amin Noordin, Bany Ariffin and Wan Ngah, Wan Azman Saini and Md Nassir, Annuar
(2015)
Unobservable effects and speed of adjustment to target capital structure.
International Journal of Business and Society, 16 (3).
pp. 470-479.
ISSN 1511-6670
Abstract
The paper investigates whether unobservable firm-specific effects such as managerial ability is a major component of the target capital structure. We apply the system generalized method of moments that accounts for unobservable firm-specific effects. Our results reveal that unobservable firm-specific effects such as managerial ability are a major component that explains most of the cross-sectional variation in firms’ capital structure in Malaysia.
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Additional Metadata
| Item Type: | Article |
|---|---|
| Divisions: | Faculty of Economics and Management |
| Publisher: | Universiti Malaysia Sarawak |
| Keywords: | Capital Structure; Unobservable Effects; System GMM; Malaysia |
| Depositing User: | Ms. Nida Hidayati Ghazali |
| Date Deposited: | 31 Jan 2018 11:21 |
| Last Modified: | 12 Apr 2019 01:27 |
| URI: | http://psasir.upm.edu.my/id/eprint/46813 |
| Statistic Details: | View Download Statistic |
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