Capital control regime and capital structure determinants : a Malaysian case / Mohd Nazam Dzolkarnaini
In light of 1997 Asian crisis, the adoption of capital control regime by Malaysian government on 1st September 1998 is very much controversial. Despite being highly criticised, it is argued that Malaysia has recovered nicely On 21st July 2005, the government announced the scrapping of the seven-yea...
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Faculty of Accountancy & Accounting Research Institute (ARI)
2006
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| Online Access: | http://ir.uitm.edu.my/id/eprint/13792/ http://ir.uitm.edu.my/id/eprint/13792/1/AJ_MOHD%20NAZAM%20DZOLKARNAINI%20MAR%2006.pdf |
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uitm-13792 |
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eprints |
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uitm-137922016-07-21T09:12:40Z http://ir.uitm.edu.my/id/eprint/13792/ Capital control regime and capital structure determinants : a Malaysian case / Mohd Nazam Dzolkarnaini Dzolkarnaini, Mohd Nazam Malaysia Government securities. Industrial securities. Venture capital In light of 1997 Asian crisis, the adoption of capital control regime by Malaysian government on 1st September 1998 is very much controversial. Despite being highly criticised, it is argued that Malaysia has recovered nicely On 21st July 2005, the government announced the scrapping of the seven-year old ringgit's peg to the US dollar. As ringgit depegging marks a significant upliftment of one of the capital control policies, an early assessment of the policies' effectiveness is timely. This paper examines the impact of capital control on the leverage ratios of Malaysian companies during the period 1st September 1994 - 31st August 2002. Further, the paper investigates the issues of capital control and the capital structure determinants. Results indicate that (i) the capital control has significantly changed the overall leverage ratios between the pre and the post-capital control periods; (ii) the leverage level of Malaysian companies is mainly driven by three major factors, namely the company size, the profitability and the liquidity; and (Hi) the capital control has a significant impact on the role of some capital structure determinants. With all these evidence, it is suggested that the capital control adoption is proven successful in stabilising the economy, at least in the medium-term. Faculty of Accountancy & Accounting Research Institute (ARI) 2006 Article PeerReviewed text en http://ir.uitm.edu.my/id/eprint/13792/1/AJ_MOHD%20NAZAM%20DZOLKARNAINI%20MAR%2006.pdf Dzolkarnaini, Mohd Nazam (2006) Capital control regime and capital structure determinants : a Malaysian case / Mohd Nazam Dzolkarnaini. Malaysian Accounting Review, 5 (1). pp. 1-41. ISSN 1675-4077 |
| repository_type |
Digital Repository |
| institution_category |
Local University |
| institution |
Universiti Teknologi MARA |
| building |
UiTM Institutional Repository |
| collection |
Online Access |
| language |
English |
| topic |
Malaysia Government securities. Industrial securities. Venture capital |
| spellingShingle |
Malaysia Government securities. Industrial securities. Venture capital Dzolkarnaini, Mohd Nazam Capital control regime and capital structure determinants : a Malaysian case / Mohd Nazam Dzolkarnaini |
| description |
In light of 1997 Asian crisis, the adoption of capital control regime by Malaysian government on 1st September 1998 is very much controversial. Despite being highly criticised, it is argued that Malaysia has recovered nicely
On 21st July 2005, the government announced the scrapping of the seven-year old ringgit's peg to the US dollar. As ringgit depegging marks a significant upliftment of one of the capital control policies, an early assessment of the
policies' effectiveness is timely. This paper examines the impact of capital control on the leverage ratios of Malaysian companies during the period 1st September 1994 - 31st August 2002. Further, the paper investigates the issues
of capital control and the capital structure determinants. Results indicate that (i) the capital control has significantly changed the overall leverage ratios between the pre and the post-capital control periods; (ii) the leverage level of Malaysian companies is mainly driven by three major factors, namely the company size, the profitability and the liquidity; and (Hi) the capital control has a significant impact on the role of some capital structure determinants. With all these evidence, it is suggested that the capital control adoption is proven successful in stabilising the economy, at least in the medium-term. |
| format |
Article |
| author |
Dzolkarnaini, Mohd Nazam |
| author_facet |
Dzolkarnaini, Mohd Nazam |
| author_sort |
Dzolkarnaini, Mohd Nazam |
| title |
Capital control regime and capital structure determinants : a Malaysian case / Mohd Nazam Dzolkarnaini |
| title_short |
Capital control regime and capital structure determinants : a Malaysian case / Mohd Nazam Dzolkarnaini |
| title_full |
Capital control regime and capital structure determinants : a Malaysian case / Mohd Nazam Dzolkarnaini |
| title_fullStr |
Capital control regime and capital structure determinants : a Malaysian case / Mohd Nazam Dzolkarnaini |
| title_full_unstemmed |
Capital control regime and capital structure determinants : a Malaysian case / Mohd Nazam Dzolkarnaini |
| title_sort |
capital control regime and capital structure determinants : a malaysian case / mohd nazam dzolkarnaini |
| publisher |
Faculty of Accountancy & Accounting Research Institute (ARI) |
| publishDate |
2006 |
| url |
http://ir.uitm.edu.my/id/eprint/13792/ http://ir.uitm.edu.my/id/eprint/13792/1/AJ_MOHD%20NAZAM%20DZOLKARNAINI%20MAR%2006.pdf |
| first_indexed |
2023-09-18T22:50:18Z |
| last_indexed |
2023-09-18T22:50:18Z |
| _version_ |
1777417499355119616 |