Proceedings of the 7th Global Conference on Business, Management, and Entrepreneurship (GCBME 2022)

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Financial Flexibility and Health Sector Firm Performance in ASEAN-5 Countries: Moderate Role of Directors with MD Degree

Authors
Nida Hanasa1, *, Arief Wibisono Lubis2
1Faculty of Economics and Business, Universitas Indonesia, Jakarta, 10430, Indonesia
2Department of Management, Faculty of Economics and Business, Universitas Indonesia, Jakarta, 10430, Indonesia
*Corresponding author. Email: nida.hanasa01@ui.ac.id
Corresponding Author
Nida Hanasa
Available Online 29 September 2023.
DOI
10.2991/978-94-6463-234-7_12How to use a DOI?
Keywords
Medical Doctor; Board of Directors; Financial Flexibility; Firm Performance; Health Sector
Abstract

Under uncertain circumstances, Financial flexibility plays a crucial role in strategic adjustment for businesses and is also vital for firms in developing countries with high volatility stock markets. With increasing public attention to the health sector as the pandemic progresses, the question arises whether healthcare companies should be led by directors with medical backgrounds or not. This study investigates the impact of financial flexibility on the performance of enterprises in the health sector in ASEAN-5 countries with the moderating role of directors with medical doctor (MD) degrees. Data for 2015–2020 from health sector firms listed on the stock exchange of five ASEAN countries (Indonesia, Malaysia, Philippines, Thailand, and Singapore) were collected and analyzed using the time-series regression technique. Analysis was conducted using Stata software. The study finds that financial flexibility has no influence on health sector firms’ performance in ASEAN-5 countries, and directors with MD degree has no moderating effect.

Copyright
© 2024 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 7th Global Conference on Business, Management, and Entrepreneurship (GCBME 2022)
Series
Advances in Economics, Business and Management Research
Publication Date
29 September 2023
ISBN
978-94-6463-234-7
ISSN
2352-5428
DOI
10.2991/978-94-6463-234-7_12How to use a DOI?
Copyright
© 2024 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Nida Hanasa
AU  - Arief Wibisono Lubis
PY  - 2023
DA  - 2023/09/29
TI  - Financial Flexibility and Health Sector Firm Performance in ASEAN-5 Countries: Moderate Role of Directors with MD Degree
BT  - Proceedings of the 7th Global Conference on Business, Management, and Entrepreneurship (GCBME 2022)
PB  - Atlantis Press
SP  - 112
EP  - 125
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-234-7_12
DO  - 10.2991/978-94-6463-234-7_12
ID  - Hanasa2023
ER  -