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Abstract Increasing energy insufficiency is the main trench for the South East Asian countries. Though, there are rare empirical inquiries in relation to the energy firms’ capital structure determinants for the firms functioning in the Association of Southeast Asian Nations (ASEAN). Therefore, this study is an attempt to discover the capital structure determinants of energy firms that are functioning in the six key economies of ASEAN region which are Malaysia, Indonesia, Thailand, Philippines, Cambodia and Vietnam. In this setting, a total of 144 energy firms’ yearly Panel Data is involved over 14 years period from 2007 to 2020. The seven core determinants of capital structure, namely tangibility, return on equity, current ratio, non-debt tax shield, inflation and annual gross domestic product are inspected in relation to capital structure which is measured by ratio of debt to total asset. Employing both Panel Data models that are Static and Dynamic models via using robust estimator i.e. Generalized Method of Moments (GMM), the results reveal that tangibility and profitability are the most prominent determinants among all others. Evidently, the two newly introduced capital structure determinants that are inflation and energy consumption for ASEAN region energy firms are also reported significant by dissimilar estimators. The significant character of tangibility, profitability and lagged dependent variable directly infers the relevance of Dynamic Trade-Off theory. The findings provide new ways for policy makers to construct parallel strategies which will not only help out to overcome the energy scarcity issues but also to enhance regional level integration. Downloads Download data is not yet available. Downloads FULL TEXT Published 2023-05-17 How to Cite Ghani, E. K., Hye, Q. M. A., Rehan, R., & Salahuddin, S. (2023). Examining Capital Structure Determinants for ASEAN Energy Firms. International Journal of Energy Economics and Policy, 13(3), 129–140. https://doi.org/10.32479/ijeep.14070 More Citation Formats ACM ACS APA ABNT Chicago Harvard IEEE MLA Turabian Vancouver Download Citation Endnote/Zotero/Mendeley (RIS) BibTeX Issue Vol. 13 No. 3 (2023) Section Articles License Submission of an article implies that the work described has not been published previously , that it is not under consideration for publication elsewhere, that its publication is approved by all authors and tacitly or explicitly by the responsible authorities where the work was carried out, and that, if accepted, will not be published elsewhere in the same form, without the written consent of the Publisher. The Editors reserve the right to edit or otherwise alter all contributions, but authors will receive proofs for approval before publication. Most read articles by the same author(s) Muhammad Haseeb, Irwan Shah Zainal Abidin, Qazi Muhammad Adnan Hye, Nira Hariyatie Hartani, The Impact of Renewable Energy on Economic Well-Being of Malaysia: Fresh Evidence from Auto Regressive Distributed Lag Bound Testing Approach , International Journal of Energy Economics and Policy: Vol. 9 No. 1 (2019) Citra Sukmadilaga, Srihadi Winarningsih, Ivan Yudianto, Tri Utami Lestari, Erlane K. Ghani, Does Green Accounting Affect Firm Value? Evidence from ASEAN Countries , International Journal of Energy Economics and Policy: Vol. 13 No. 2 (2023) Mohd Haizam Mohd Saudi, Obsatar Sinaga, Djoko Roespinoedji, Erlane K. Ghani, The Impact of Technological Innovation on Energy Intensity: Evidence from Indonesia , International Journal of Energy Economics and Policy: Vol. 9 No. 3 (2019) Gholam Reza Zandi, Erlane K. Ghani, Retno Martanti Endah Lestari, Siti Maimunah, The Impact of Management Accounting Systems, Eco-Innovations and Energy Efficacy on Firm's Environmental and Economic Performance , International Journal of Energy Economics and Policy: Vol. 9 No. 6 (2019) Obsatar Sinaga, Djoko Roespinoedji, Mohd Haizam Mohd Saudi, Erlane K. Ghani, The Role of Management Accounting Systems, Energy Efficiency and Organizational Innovation in driving Competitive Advantage and Firm Performance , International Journal of Energy Economics and Policy: Vol. 9 No. 3 (2019) Erlane K. Ghani, Raja Rehan, Sultan Salahuddin, Qazi Muhammad Adnan Hye, Discovering Capital Structure Determinants for SAARC Energy Firms , International Journal of Energy Economics and Policy: Vol. 13 No. 1 (2023) Sulaiman Sajilan, Erlane K. Ghani, Siti Maimunah, Retno Martanti Endah Lestari, The Relationship of Environmental Uncertainty, AIS Efficiency and Energy Efficiency with Environmental and Operational Performance in Indonesia , International Journal of Energy Economics and Policy: Vol. 9 No. 5 (2019) Gholamreza Zandi, Raja Rehan, Qazi Muhammad Adnan Hye, Sandy Low Bee Choo, Exploring Capital Structure Determinants for OECD Energy Firms , International Journal of Energy Economics and Policy: Vol. 13 No. 4 (2023) Make a Submission Make a Submission Dergi Kapağı

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