Corporate Financing Decision Of Before And During Covid-19 Pandemic And The Impact Towards Firm Performance : Evidence From Asean-3

Aisya Laila, Shbin (2023) Corporate Financing Decision Of Before And During Covid-19 Pandemic And The Impact Towards Firm Performance : Evidence From Asean-3. [Final Year Project Report] (Unpublished)

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Abstract

This study presents a comprehensive analysis of corporate financing decisions and firm performance in 3 ASEAN countries (Malaysia, Singapore, and Thailand) before and during the COVID-19 pandemic, using a robust sample of 49,057 observations from public listed firms. Controlling for firm size and liquidity, the results reveal mixed relationships between the variables across the three countries, and importantly, do not reject any of the null hypotheses suggesting significant relationships between debt (Total Debt, Long-term Debt and Short-term Debt) and equity financing with firm performance measured by ROA and ROE. These findings have significant implications for the diversity and validity of the data used in the study, while also highlighting the need for further research to expand the sample size and focus on other Southeast Asian markets.

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