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Stock Market Liberalisation And Cost Of Equity: Firm-Level Evidence From Malaysia

หน่วยงาน Universiti Sains Malaysia, Malaysia

รายละเอียด

ชื่อเรื่อง : Stock Market Liberalisation And Cost Of Equity: Firm-Level Evidence From Malaysia
นักวิจัย : Swee, Sim Foong , Kian, Ping Lim
คำค้น : HD28-70 Management. Industrial Management
หน่วยงาน : Universiti Sains Malaysia, Malaysia
ผู้ร่วมงาน : -
ปีพิมพ์ : 2559
อ้างอิง : http://eprints.usm.my/37374/1/aamjaf120s16_02.pdf , Swee, Sim Foong and Kian, Ping Lim (2016) Stock Market Liberalisation And Cost Of Equity: Firm-Level Evidence From Malaysia. Asian Academy of Management Journal of Accounting and Finance, 12 (1). pp. 1-24. ISSN 1823-4992
ที่มา : -
ความเชี่ยวชาญ : -
ความสัมพันธ์ : http://web.usm.my/journal/aamjaf/12-s-2-2016.html , http://eprints.usm.my/37374/
ขอบเขตของเนื้อหา : -
บทคัดย่อ/คำอธิบาย :

This study extends the stock market liberalisation literature by conducting a firm-level analysis on the emerging economy of Malaysia. Using a finer measure of foreign ownership, we explore the association between liberalisation and cost of equity for public listed firms on Bursa Malaysia over the sample period of 2002-2009. We find strong support for our hypothesis that total foreign ownership is negatively and significantly associated with cost of equity. Further disaggregate analysis suggests foreign institutions that trade through direct accounts are driving the lower cost of equity. When the model is extended to include interaction term, we find that an effective board of directors further strengthens the negative relationship between foreign institutions and cost of equity. Our empirical results consistently support the corporate governance channel in which foreign institutions play an active monitoring role.

บรรณานุกรม :
Swee, Sim Foong , Kian, Ping Lim . (2559). Stock Market Liberalisation And Cost Of Equity: Firm-Level Evidence From Malaysia.
    กรุงเทพมหานคร : Universiti Sains Malaysia, Malaysia.
Swee, Sim Foong , Kian, Ping Lim . 2559. "Stock Market Liberalisation And Cost Of Equity: Firm-Level Evidence From Malaysia".
    กรุงเทพมหานคร : Universiti Sains Malaysia, Malaysia.
Swee, Sim Foong , Kian, Ping Lim . "Stock Market Liberalisation And Cost Of Equity: Firm-Level Evidence From Malaysia."
    กรุงเทพมหานคร : Universiti Sains Malaysia, Malaysia, 2559. Print.
Swee, Sim Foong , Kian, Ping Lim . Stock Market Liberalisation And Cost Of Equity: Firm-Level Evidence From Malaysia. กรุงเทพมหานคร : Universiti Sains Malaysia, Malaysia; 2559.