Kesan Kekangan Kewangan ke atas Produktiviti Firma di Malaysia

Mohd Adib Ismail and Siti Sarah Annuar ()
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Mohd Adib Ismail: Pusat Pengajian Ekonomi Fakulti Ekonomi dan Pengurusan Universiti Kebangsaan Malaysia 43600 UKM Bangi, Selangor D.E.
Siti Sarah Annuar: Pusat Pengajian Ekonomi Fakulti Ekonomi dan Pengurusan Universiti Kebangsaan Malaysia 43600 UKM Bangi, Selangor D.E.

Jurnal Ekonomi Malaysia, 2015, vol. 49, issue 2, 87-95

Abstract: Financial factors have been the main focus in influencing the firm’s real activities. Accessibility to financial resources is a significant determinant to increase firm productivity and subsequently generate firm’s growth. This paper will study the impact of financial constraints on firm’s productivity in Malaysia by using a firm level panel data analysis. System Generalized Method of Moments (GMM) was used in this study. The empirical results show that financial factor has a significant impact on productivity of firm. Firm’s cash flow affects firm’s productivity. This indicates that the shortage of internal funds causing firm unable to access the external finance for financing investment activities. The study also finds that small firms suffer financial constraints in enhancing productivity, while large firms are not financially constrained. Therefore, the findings of this study are important in explaining the relationship between financial constraints and productivity in order to assist the policy maker to formulate the policy that can spur economic growth in Malaysia.

Keywords: GMM.; economic growth; financial constraints; panel data; productivity (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:ukm:jlekon:v:49:y:2015:i:2:p:87-95

DOI: 10.17576/JEM-2015-4902-08

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