The Determinants of Capital Structure: Analysis of Real Estate Investment Trust (REITs) and Properties Companies Listed in Bursa Malaysia

The Determinants of Capital Structure: Analysis of Real Estate Investment Trust (REITs) and Properties Companies Listed in Bursa Malaysia

Capital structure refers to the way a corporation finance its assets through some combination of equity, debt or hybrid securities. It is primarily comprises of long term debt, preferred stock and net worth. It also can be quantified by taking how much of each type of financing a company holds as a...

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Main Author: Husnizam, Hosin
Format: Thesis
Language:eng
eng
Published: 2012
Subjects:
HG Finance
Online Access:https://etd.uum.edu.my/3011/1/Husnizam_Hosin.pdf
https://etd.uum.edu.my/3011/3/Husnizam_Hosin.pdf
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id my-uum-etd.3011
record_format uketd_dc
institution Universiti Utara Malaysia
collection UUM ETD
language eng
eng
advisor Md Yusof, Mohd 'Atef
topic HG Finance
spellingShingle HG Finance
Husnizam, Hosin
The Determinants of Capital Structure: Analysis of Real Estate Investment Trust (REITs) and Properties Companies Listed in Bursa Malaysia
description Capital structure refers to the way a corporation finance its assets through some combination of equity, debt or hybrid securities. It is primarily comprises of long term debt, preferred stock and net worth. It also can be quantified by taking how much of each type of financing a company holds as a percentage of all its financing. Most of the companies raise funds by equity or debt. This study was set out to focus on the determinants of capital structure for the properties and real estate investment trust (REITs) companies that listed in the Bursa Malaysia. By using trade off and pecking order theories as theoretical background, 54 sample firms were analyzed. The data was collected for a 10 year time period (2001 – 2010). Leverage was used as dependent variable and six market variables were used as independent variable for the analysis; growth opportunities, profitability, size of the firm, tangibility, volatility and liquidity. Result of multiple linear regression found that, profitability, size of the firm, tangibility, volatility and liquidity were determinants of capital structure of Real Estate Investment Trust (REITs) in Malaysia. It appears that less profitable, larger, more tangible, less volatile and less liquid firms are more likely to have higher leverage level.
format Thesis
qualification_name masters
qualification_level Master's degree
author Husnizam, Hosin
author_facet Husnizam, Hosin
author_sort Husnizam, Hosin
title The Determinants of Capital Structure: Analysis of Real Estate Investment Trust (REITs) and Properties Companies Listed in Bursa Malaysia
title_short The Determinants of Capital Structure: Analysis of Real Estate Investment Trust (REITs) and Properties Companies Listed in Bursa Malaysia
title_full The Determinants of Capital Structure: Analysis of Real Estate Investment Trust (REITs) and Properties Companies Listed in Bursa Malaysia
title_fullStr The Determinants of Capital Structure: Analysis of Real Estate Investment Trust (REITs) and Properties Companies Listed in Bursa Malaysia
title_full_unstemmed The Determinants of Capital Structure: Analysis of Real Estate Investment Trust (REITs) and Properties Companies Listed in Bursa Malaysia
title_sort determinants of capital structure: analysis of real estate investment trust (reits) and properties companies listed in bursa malaysia
granting_institution Universiti Utara Malaysia
granting_department Othman Yeop Abdullah Graduate School of Business
publishDate 2012
url https://etd.uum.edu.my/3011/1/Husnizam_Hosin.pdf
https://etd.uum.edu.my/3011/3/Husnizam_Hosin.pdf
_version_ 1747827479639228416
spelling my-uum-etd.30112016-04-19T07:32:10Z The Determinants of Capital Structure: Analysis of Real Estate Investment Trust (REITs) and Properties Companies Listed in Bursa Malaysia 2012 Husnizam, Hosin Md Yusof, Mohd 'Atef Othman Yeop Abdullah Graduate School of Business Othman Yeop Abdullah Graduate School of Business HG Finance Capital structure refers to the way a corporation finance its assets through some combination of equity, debt or hybrid securities. It is primarily comprises of long term debt, preferred stock and net worth. It also can be quantified by taking how much of each type of financing a company holds as a percentage of all its financing. Most of the companies raise funds by equity or debt. This study was set out to focus on the determinants of capital structure for the properties and real estate investment trust (REITs) companies that listed in the Bursa Malaysia. By using trade off and pecking order theories as theoretical background, 54 sample firms were analyzed. The data was collected for a 10 year time period (2001 – 2010). Leverage was used as dependent variable and six market variables were used as independent variable for the analysis; growth opportunities, profitability, size of the firm, tangibility, volatility and liquidity. Result of multiple linear regression found that, profitability, size of the firm, tangibility, volatility and liquidity were determinants of capital structure of Real Estate Investment Trust (REITs) in Malaysia. It appears that less profitable, larger, more tangible, less volatile and less liquid firms are more likely to have higher leverage level. 2012 Thesis https://etd.uum.edu.my/3011/ https://etd.uum.edu.my/3011/1/Husnizam_Hosin.pdf text eng validuser https://etd.uum.edu.my/3011/3/Husnizam_Hosin.pdf text eng public masters masters Universiti Utara Malaysia Agrawal, A. and Nagarajan, N.J. 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