It is theoretically acknowledged that decisions on capital structure remain an important goal to maximise returns. This study seeks to identify factors influencing the capital structure of Malaysia's small and medium enterprises (SMEs) through re-assessment of the operationalisation of constructs and an evaluation of certain assumptions on capital structure choices. An analysis of 500 questionnaires from SMEs located in the central region of Peninsular Malaysia was considered in the context of reliability and validity concerning capital structure determinants. The finalised model of capital structure consists of 11 constructs and 40 items. The results of an exploratory factor analysis (EFA) confirmed that external factors such as culture and environment also influenced the capital structure choices of SMEs. Prospective research could validate the framework proposed in this study and establish the framework as a standard measurement exercise to assess SMEs' capital structure determinants. This study also presented policy implications for strategies to manage, preserve, and enhance economic systems, legal and tax frameworks, and inflation rates that may aid SMEs in accessing different financial sources.
The research investigates the financial accounting and reporting of small and medium-sized enterprises (SMEs) in Malaysia. The aims are to discover features of SMEs' financial reporting and to assess its costs and benefits to the stakeholders. This study adopts a positivist paradigm. The research design was drawn from a survey of 150 owner-managers of SMEs in the Northern Corridor Economic Region of Malaysia. The data is analysed using both univariate and multivariate analyses. Results reveal that financial information in the SMEs' financial statement is incapable to satisfy the main users' requirements. Results indicate that the main weaknesses of SMEs' financial statements are in terms of financial statements' preparation with outdated information, tax motivation and limited disclosures. This study makes several important contributions to the existing studies of SMEs' reporting, particularly in the literature related to information requirements of financial statement's users and the financial reporting's costs and benefits. The results of this research are of particular concern to SMEs, their accountants and stakeholders in Malaysia and other jurisdictions. Research findings should assist policymakers in formulating an appropriate policy on SMEs' financial reporting.
The ability to manage personal finances has become increasingly significant, particularly for university students. This study has examined the influence of human capital, financial socialisation agents and motivation on financial literacy among private university students in Malaysia. A survey consisted of 390 students was conducted from various private universities based on positive paradigm approach. The survey data collected was then analysed using statistical techniques and multiple regression models. The survey results showed that human capital, financial socialisation agents and motivation have significant effects on individuals financial literacy and supported the theory of planned behaviour. The research findings provide insights for policymakers to improve financial literacy among students in higher education institutions. Policymakers such as the Malaysian government and the Ministry of Higher Education can utilise the findings for the
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