Ahmad, Abd Halim @ Hamilton and Abdullah, Nur Adiana Hiau and Taufil Mohd, Kamarun Nisham (2018) Long-run performance of firms emerging from financial distress: empirical evidence from Malaysia. Economics and Business Letters, 7 (1). p. 47. ISSN 2254-4380

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Abstract

We examine the long-run performance of firms emerging from financial distress in Malaysia. The sample consists of 114 companies listed on the Bursa Malaysia stock exchange that emerged from a financially distressed classification between 2001 and 2014. We investigate whether post-distressed performance is similar to the performance of firms of equivalent size and book-to-market ratio and the market indices. The results suggest that firms emerging from financial distress in Malaysia underperform when compared to the performance of firms similar in size and book-to-market ratio and the market indices. This suggests that the post-restructuring performance of firms on the Bursa Malaysia stock exchange that have emerged from financial distress does not improve.

Item Type:	Article
Uncontrolled Keywords:	long-run performance; Malaysia; buy-and-hold abnormal return; cumulative average abnormal return; financial distress
Subjects:	H Social Sciences > HG Finance
Divisions:	School of Economics, Finance & Banking
Depositing User:	Mrs. Norazmilah Yaakub
Date Deposited:	19 Feb 2019 08:35
Last Modified:	19 Feb 2019 08:35
URI:	https://repo.uum.edu.my/id/eprint/25613

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