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What factors discriminate reorganized and delisted distressed firms: Evidence from Malaysia

Abd Halim Ahmad

Finance Research Letters, 2019, vol. 29, issue C, 50-56

Abstract: This paper examines the factors that differentiate reorganized and delisted financially distressed firms in Malaysia. The results show that earnings before interest and tax to interest expense, cumulative average abnormal returns and the role the top 10 largest shareholders play are significant. The inclusion of firm-specific financial, market and institutional variables improve the estimation. The findings of this study suggest models incorporating these features can be used by creditors, regulators and investors to manage credit and financial market risk.

Keywords: Financial distress; Reorganize; Delisted; Malaysia (search for similar items in EconPapers)
JEL-codes: G23 G32 G34 (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:29:y:2019:i:c:p:50-56

DOI: 10.1016/j.frl.2019.03.010

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