VGU RESEARCH REPOSITORY
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https://epub.vgu.edu.vn/handle/dlibvgu/1317
Title: | Capital structure and firm performance of real estate listed companies in Vietnam | Authors: | Nguyen Thi Huong Mo | Keywords: | Vietnamese real estate;Capital structure | Issue Date: | 2022 | Abstract: | This paper investigates the determinants of capital structure on Vietnamese real estate listed firms. The panel data analysis consists of 36 publicly traded real estate corporations on Ho Chi Minh Stock Exchange in Vietnam over the period of 2017-2021. Secondary data were collected from financial statements of 36 enterprises. Descriptive analysis, correlation analysis, and regression analysis were carried out to test the hypotheses. Regarding the regression analysis, four different static panel data estimation techniques were conducted to estimate the most robust regression model result. The results show that profitability have a negative and significant impact on the three debt measures. In contrast, growth opportunities and asset tangibility is significantly positively correlated to capital structure. In addition, firm size, and non-debt tax shield have different relationship depending on whether it is long-term or short-term debt. In general, the results support the predictions of agency cost, trade-off, and pecking order theories. |
URI(1): | https://epub.vgu.edu.vn/handle/dlibvgu/1317 |
Appears in Collections: | Finance & Accounting (FA) |
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