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Was bail-out a success? Evidence from the investment-cash flow relationship

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dc.contributor.authorMohd Adib Ismail
dc.contributor.authorMohd-Pisal Zainal
dc.contributor.authorMohammed Yusoff
dc.contributor.authorMansor H. Ibrahim
dc.date.accessioned2017-03-03T06:58:43Z
dc.date.available2017-03-03T06:58:43Z
dc.date.issued2013
dc.description.abstractThe 1997-1998 Asian financial crisis affected the balance sheets of many Malaysian firms, which increased the financial constraints on such firms. To counter the impacts, the Malaysian government carried out various directed policy measures known collectively as the bail-out policy. The present paper examines the success of the policy to reduce the financial constraints. The present paper uses panel estimation methods to analyze the relationship between firms’ investments and their cash flows. The sample of study is split into two subsamples, consisting of the periods before and after the financial crisis, respectively. The success of the policy is measured based upon the easing of financial constraints faced by Malaysian firms. Using annual financial data, consisting of unbalanced panel from the period of 1988 to 2005, the results found favour the bail-out policy. This finding indicates the success of the bail-out policy to reduce the severity of financial constraints.en_US
dc.identifier.citationIsmail, M. A., Ibrahim, M. H., Zainal, M., & Yusoff, M. (2013). Was bail-out a success? Evidence from the investment-cash flow relationship. Jurnal Ekonomi Malaysia, 47 (1), pp. 31-40.en_US
dc.identifier.issn0127-1962
dc.identifier.urihttps://ikr.inceif.org/handle/INCEIF/2271
dc.language.isoengen_US
dc.publisherUKMen_US
dc.rights2013. UKMen_US
dc.subjectBail-outen_US
dc.subjectFinancial constraintsen_US
dc.subjectInvestmenten_US
dc.subjectCash flowen_US
dc.subjectPanel dataen_US
dc.titleWas bail-out a success? Evidence from the investment-cash flow relationshipen_US
dc.typeJournal Articleen_US
dlc.maintopicConventional financeen_US
dspace.entity.typePublication
ikr.doctypeScholarly Worksen_US
ikr.topic.maintopicConventional financeen_US
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