Publication: The dynamic linkage among the size, growth and profitability of listed companies in the ASEAN-4 countries
Issued Date
2018-12-19
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18135498
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2-s2.0-85063732788
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Mahidol University
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SCOPUS
Bibliographic Citation
Contemporary Management Research. Vol.14, No.4 (2018), 293-310
Suggested Citation
Phassawan Suntraruk, Kanix Bukkavesa, Nat Kulvanich The dynamic linkage among the size, growth and profitability of listed companies in the ASEAN-4 countries. Contemporary Management Research. Vol.14, No.4 (2018), 293-310. doi:10.7903/cmr.18579 Retrieved from: https://repository.li.mahidol.ac.th/handle/20.500.14594/45343
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Title
The dynamic linkage among the size, growth and profitability of listed companies in the ASEAN-4 countries
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Abstract
© 2018 Contemporary Management Research.All rights reserved. The purpose of this paper is to examine the dynamic relationship among the size, growth, and profitability of listed companies. The study sample comprised listed companies in the ASEAN-4 countries-Malaysia, the Philippines, Singapore, and Thailand-over the period 1972-2014. The K-medoids algorithm was employed in a cluster analysis, and the generalized method of moments (GMM) was applied to examine the dynamic relationship. The empirical results reveal that smaller companies tend to have higher growth than larger companies. Moreover, the results indicate that persistence of growth and persistence of profitability do not exist. There is also evidence that profitability affects companies' growth, but companies' growth does not affect profitability.