Financial constraints on firm growth: the role of firm age in the ASEAN–6

Citation

Ling Ng, Yee and Theng Lau, Wei and Ni Soh, Wei and Ab Razak, Nazrul Hisyam (2024) Financial constraints on firm growth: the role of firm age in the ASEAN–6. Sculpture Journal, 27 (1). pp. 93-111. ISSN 1366-2724; eISSN: 1756-9923

Abstract

The paper assesses the moderating role of firm age in the relationship between financial constraints, as measured by the KZ index, and the WW index on three alternative measures of firm growth (Asset growth, ROA, and ROE) in the ASEAN–6 region. This study employs a sample of ASEAN–6 listed firms over the period 2009–2019 using Fixed Effects and the System GMM model. Firm age is found to interact positively with financial constraints in their effects on firm growth. The negative impact of financial constraints on firm growth is less severe with older age firms.

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Additional Metadata

Item Type:	Article
Divisions:	School of Business and Economics
DOI Number:	https://doi.org/10.18778/1508-2008.27.05
Publisher:	Liverpool University Press
Keywords:	Financial constraint; Fixed effect model; System GMM model; ASEAN; KZ index; WW index; Firm growth
Depositing User:	Ms. Nur Faseha Mohd Kadim
Date Deposited:	26 May 2025 09:22
Last Modified:	26 May 2025 09:22
Altmetrics:	http://www.altmetric.com/details.php?domain=psasir.upm.edu.my&doi=10.18778/1508-2008.27.05
URI:	http://psasir.upm.edu.my/id/eprint/117476
Statistic Details:	View Download Statistic

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