Citation
Thakur, Oli Ahad and Amin Noordin, Bany-Ariffin and Matemilola, Bolaji Tunde and Alam, Md. Kausar
(2023)
Impact of goodwill on firms capital structure in developed and developing countries: moderating effects of legal system.
Macroeconomics and Finance in Emerging Market Economies, 16 (3).
pp. 525-544.
ISSN 1752-0843; eISSN: 1752-0851
Abstract
The study investigates the impact of goodwill assets on firms’ capital structure and examines the indirect impact of the legal system on the relationship between goodwill assets and firms’ capital structure (debt ratio). The study uses 4912 firms from 23 developing countries covering the 2010 to 2018 periods. The findings show a robust positive relationship between goodwill assets and firms’ capital structure in developing countries. Moreover, the country’s legal system positively impacts the firms’ capital structure. Furthermore, the impact of goodwill assets on firms’ capital structure is weaker in countries where common law is practiced.
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Additional Metadata
| Item Type: | Article |
|---|---|
| Divisions: | School of Business and Economics |
| DOI Number: | https://doi.org/10.1080/17520843.2023.2170068 |
| Publisher: | Taylor and Francis Group |
| Keywords: | Capital structure; Goodwill; Legal system; International evidence; System GMM; Industry; Innovation and infrastructure |
| Depositing User: | Ms. Zaimah Saiful Yazan |
| Date Deposited: | 03 Mar 2025 07:53 |
| Last Modified: | 03 Mar 2025 07:53 |
| Altmetrics: | http://www.altmetric.com/details.php?domain=psasir.upm.edu.my&doi=10.1080/17520843.2023.2170068 |
| URI: | http://psasir.upm.edu.my/id/eprint/108297 |
| Statistic Details: | View Download Statistic |
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