Impak kekangan kewangan dan pemilikan ke atas produktiviti firma di Malaysia

Translated title of the contribution: The impact of financial constraints and ownership on firm productivity in Malaysia

Mohd Adib Ismail, Sharlily Shahira Mat Nasir

Research output: Contribution to journalArticle

Abstract

Financial resources are an important factor in investment decisions. Access to financial resources is a key determinant to increase productivity and consequently generate firm growth. This paper aims to investigate the impact of financial constraints, ownership types and structures on firm productivity. This study used annual data of firms listed on the main board of Bursa Malaysia from 2000 to 2015. This study employed system generalized method of moments (GMM) to analyze the impact of financial constraints, ownership and other control variables on productivity. The results show that financial constraints, and the ownership types and structures cause different impacts on firm productivity. Using the sub-sample analysis of government, private and foreign firms, the results indicates that foreign firms are most affected by financial constraints followed by government firms and private firms. In the negative liquidity situation, the financial constraints faced by government and private firms have increased. Meanwhile, exports have managed to reduce the impact of financial constraints on foreign firms. The analysis of ownership structure analysis finds that it does not affect firm productivity. Hence, to boost domestic economic growth policy makers should formulate strategies that support firm financial aspect to ensure increased productivity and growth of local firms in Malaysia.

Original languageMalay
JournalJurnal Ekonomi Malaysia
Volume53
Issue number1
DOIs
Publication statusPublished - 1 Jan 2019

Fingerprint

Financial constraints
Ownership
Malaysia
Firm productivity
Private firms
Foreign firms
Productivity
Government
Financial resources
Generalized method of moments
Factors
Firm growth
Control variable
Politicians
Liquidity
Economic growth
Investment decision
Ownership structure

ASJC Scopus subject areas

  • Economics, Econometrics and Finance(all)

Cite this

Impak kekangan kewangan dan pemilikan ke atas produktiviti firma di Malaysia. / Ismail, Mohd Adib; Nasir, Sharlily Shahira Mat.

In: Jurnal Ekonomi Malaysia, Vol. 53, No. 1, 01.01.2019.

Research output: Contribution to journalArticle

@article{0f77cd9aeff949a4add3b2d908b58801,
title = "Impak kekangan kewangan dan pemilikan ke atas produktiviti firma di Malaysia",
abstract = "Financial resources are an important factor in investment decisions. Access to financial resources is a key determinant to increase productivity and consequently generate firm growth. This paper aims to investigate the impact of financial constraints, ownership types and structures on firm productivity. This study used annual data of firms listed on the main board of Bursa Malaysia from 2000 to 2015. This study employed system generalized method of moments (GMM) to analyze the impact of financial constraints, ownership and other control variables on productivity. The results show that financial constraints, and the ownership types and structures cause different impacts on firm productivity. Using the sub-sample analysis of government, private and foreign firms, the results indicates that foreign firms are most affected by financial constraints followed by government firms and private firms. In the negative liquidity situation, the financial constraints faced by government and private firms have increased. Meanwhile, exports have managed to reduce the impact of financial constraints on foreign firms. The analysis of ownership structure analysis finds that it does not affect firm productivity. Hence, to boost domestic economic growth policy makers should formulate strategies that support firm financial aspect to ensure increased productivity and growth of local firms in Malaysia.",
keywords = "Agency cost, Financial constraints, Firm produktivity, Generalized method of moments, Ownership",
author = "Ismail, {Mohd Adib} and Nasir, {Sharlily Shahira Mat}",
year = "2019",
month = "1",
day = "1",
doi = "10.17576/JEM-2019-5301-5",
language = "Malay",
volume = "53",
journal = "Jurnal Ekonomi Malaysia",
issn = "0126-1962",
publisher = "Penerbit Universiti Kebangsaan Malaysia",
number = "1",

}

TY - JOUR

T1 - Impak kekangan kewangan dan pemilikan ke atas produktiviti firma di Malaysia

AU - Ismail, Mohd Adib

AU - Nasir, Sharlily Shahira Mat

PY - 2019/1/1

Y1 - 2019/1/1

N2 - Financial resources are an important factor in investment decisions. Access to financial resources is a key determinant to increase productivity and consequently generate firm growth. This paper aims to investigate the impact of financial constraints, ownership types and structures on firm productivity. This study used annual data of firms listed on the main board of Bursa Malaysia from 2000 to 2015. This study employed system generalized method of moments (GMM) to analyze the impact of financial constraints, ownership and other control variables on productivity. The results show that financial constraints, and the ownership types and structures cause different impacts on firm productivity. Using the sub-sample analysis of government, private and foreign firms, the results indicates that foreign firms are most affected by financial constraints followed by government firms and private firms. In the negative liquidity situation, the financial constraints faced by government and private firms have increased. Meanwhile, exports have managed to reduce the impact of financial constraints on foreign firms. The analysis of ownership structure analysis finds that it does not affect firm productivity. Hence, to boost domestic economic growth policy makers should formulate strategies that support firm financial aspect to ensure increased productivity and growth of local firms in Malaysia.

AB - Financial resources are an important factor in investment decisions. Access to financial resources is a key determinant to increase productivity and consequently generate firm growth. This paper aims to investigate the impact of financial constraints, ownership types and structures on firm productivity. This study used annual data of firms listed on the main board of Bursa Malaysia from 2000 to 2015. This study employed system generalized method of moments (GMM) to analyze the impact of financial constraints, ownership and other control variables on productivity. The results show that financial constraints, and the ownership types and structures cause different impacts on firm productivity. Using the sub-sample analysis of government, private and foreign firms, the results indicates that foreign firms are most affected by financial constraints followed by government firms and private firms. In the negative liquidity situation, the financial constraints faced by government and private firms have increased. Meanwhile, exports have managed to reduce the impact of financial constraints on foreign firms. The analysis of ownership structure analysis finds that it does not affect firm productivity. Hence, to boost domestic economic growth policy makers should formulate strategies that support firm financial aspect to ensure increased productivity and growth of local firms in Malaysia.

KW - Agency cost

KW - Financial constraints

KW - Firm produktivity

KW - Generalized method of moments

KW - Ownership

UR - http://www.scopus.com/inward/record.url?scp=85072371755&partnerID=8YFLogxK

UR - http://www.scopus.com/inward/citedby.url?scp=85072371755&partnerID=8YFLogxK

U2 - 10.17576/JEM-2019-5301-5

DO - 10.17576/JEM-2019-5301-5

M3 - Article

AN - SCOPUS:85072371755

VL - 53

JO - Jurnal Ekonomi Malaysia

JF - Jurnal Ekonomi Malaysia

SN - 0126-1962

IS - 1

ER -