TY  - JOUR
TT  - Capital Structure and Firm Performance During Global Financial Crisis
AU  - Khodavandloo, Marzieh
AU  - Zakaria, Zukarnain
AU  - Nassir, Annuar Md.
PY  - 2017
DA  - December
JF  - International Journal of Economics and Financial Issues
JO  - IJEFI
PB  - İlhan ÖZTÜRK
WT  - DergiPark
SN  - 2146-4138
SP  - 498
EP  - 506
VL  - 7
IS  - 4
KW  - Capital Structure
KW  - Firm Performance
KW  - Financial Crises
KW  - Bursa Malaysia
N2  - The relationship between capital structure and firm performance has been extensively investigated in the recent decades. However, only few studies investigate this relationship during financial crisis. Recent global financial crisis provides an opportunity to examine the effect of the crisis on the relationship between capital structure and firm performance. Therefore, this paper aims to investigate this relationship based on 45 listed companies involved in  trading and services sector of the Bursa Malaysia, over three specific periods of recent financial crises; the pre-crisis (2004-2006), crisis (2007-2009), and post-crisis recovery (2010-2013). The study results indicate that financial leverage has a strong negative impact on firms’ performance. These results are stronger during the global financial crisis began in 2007 and ended in 2009. These results observed in both simple regression and cross-sectional analyses even after controlling for firm specific measures.
UR  - https://dergipark.org.tr/tr/pub/ijefi/issue//353583
L1  - https://dergipark.org.tr/tr/download/article-file/364619
ER  -