An Optimal Corporate Financing Model

Qualitative Research on Critical Issues In Halal Logistics

Journal of Emerging Economies and Islamic Research ◽

10.24191/jeeir.v1i2.9125 ◽

2013 ◽

Vol 1 (2) ◽

pp. 131 ◽

Cited By ~ 10

Author(s):

Mohamed Syazwan Ab Talib ◽

Lim Rubin ◽

Vincent Khor Zhengyi

Keyword(s):

Capital Structure ◽

Agency Theory ◽

Random Effect ◽

Random Effect Model ◽

Order Theory ◽

Specific Factor ◽

Pecking Order ◽

Pecking Order Theory ◽

Corporate Financing ◽

Financing Decision

This is a preliminary study developed to explore the determinants of capital structure of Shariah-compliant firms listed in Bursa Malaysia. This study is primarily motivated by the issue of the determinants still being inconclusive in the area of capital structure. The study is performed using the static models namely Pool Ordinary Least Square, Fixed Effect and Random Effect Model. Empirical analysis on the determinants reveals that country specific factor which is GDP and sector specific factor which is industry concentration are also significant in influencing the corporate financing decisions in this country along with firm specific factors such as efficiency, bankruptcy risk, profitability, tangibility, liquidity and size of the firm. The findings revealed that results are sensitive to models employed in the study. Nevertheless, the applicability of capital structure theories such as the trade-off theory, agency theory and pecking order theory diverge across sectors in Malaysia. The pecking order theory and agency theory are found to be the dominant theories governing the corporate financing decision in the country as well. It indicates strong evidence of hierarchy practised in firms’ financing decision. The finding on agency theory being dominant justifies the function of short-term debt as a controlling mechanism to mitigate the agency problem arises within firms across sectors.

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Financing Smart Cities’ Development: Doran’s Concept of the Project Universe

Russian Economic Journal ◽

10.33983/0130-9757-2020-3-50-62 ◽

2020 ◽

pp. 50-62

Author(s):

K.S. Teteryatnikov ◽

S.G. Каmolov ◽

A.A. Pyatova

Keyword(s):

South Korea ◽

Smart City ◽

Smart Cities ◽

Public Private Partnership ◽

Project Financing ◽

Private Partnership ◽

Model Based ◽

Project Model ◽

Financing Model

The article is meant to analyze various strategies and models for the development of smart cities, as well as the concept of project financing of smart cities, proposed by Pietro Doran, one of the founding partners of the world’s first smart city built from scratch in South Korea — Songdo. The authors believe that Songdo’s financing model, based on P. Doran’s Project Model can be considered as an effective way to attract investment in greenfield projects for the development of «smart cities» in Russia on the basis of public-private partnership.

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