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Debt maturity structure of low and high Tobin's Q firms

Benjie, Lee Chien Jiang (2014) Debt maturity structure of low and high Tobin's Q firms. Masters thesis, Universiti Utara Malaysia.

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Abstract

This study examines the effects of growth in influencing debt maturity structure of Malaysian companies. The result shows that growth firms with high Tobin’s Q are indifferent between short-term and long-term debt financing. However, the relationship between growth and debt maturity is negatively related for firms with low Tobin’s Q. Therefore, this implies that growth firms with high Tobin’s Q do not make use of debt maturity structure to mitigate the agency cost of debt caused by underinvestment problem, while growth firms with low Tobin’s Q maintain higher levels of short-term debt, but lower levels of long-term debt to mitigate agency cost of equity caused by overinvestment problem

Item Type: Thesis (Masters)
Uncontrolled Keywords: Debt Maturity; Growth; Tobin’s Q; Agency cost
Subjects: H Social Sciences > HG Finance
Divisions: Othman Yeop Abdullah Graduate School of Business
Depositing User: Mr. Badrulsaman Hamid
Date Deposited: 30 Jun 2015 02:42
Last Modified: 14 Apr 2016 03:38
URI: http://etd.uum.edu.my/id/eprint/4714

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