文章基本信息

标题：Factors influencing spread in Malaysia securitization market
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作者：Mohammed Hariri Bakri ; Shafinar Ismail ; Nurazilah Zainal 等
期刊名称：Accounting
印刷版ISSN：2369-7393
电子版ISSN：2369-7407
出版年度：2020
卷号：6
期号：4
页码：433-440
DOI：10.5267/j.ac.2020.4.0016
出版社：Growing Science
摘要：The purpose of this paper is to propose a model to test the factors influencing on spread in Malaysia securitization market. An extension Vink’s model is tested and revalidated to determine and measure the factors influencing spread of securitized firms in Malaysia. The study consists firm characteristics and macroeconomic factors. Firm characteristic factors based on Vink’s model, such as Liquidity and Leverage. In addition, economic and market condition factors such as Interest and Inflation also maintain high impact to spread securitized firms. Ordinary Least square method, Panel data and multiple regression analysis are applied for the study period 2004-2012. The result shows two determinants influence or contribute to the primary market spread and are statistically significant in developing the securitization in Malaysia. It can be concluded that inflation and interest rate significantly contribute to the determinant of primary market spread. From four hypotheses, two hypotheses support that the determinants had a relationship with primary market spread. The result may become a model and benchmark for other ASEAN countries to be used as Malaysia resilient during subprime mortgage in 2008.
关键词：spread; securitization; leverage; panel data; Malaysia