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DETERMINANTS OF CAPITAL STRUCTURE: EVIDENCE FROM VIETNAM INDUSTRIAL FIRMS |
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| รหัสดีโอไอ | |
| Creator | Thu-Trang Thi Doan |
| Title | DETERMINANTS OF CAPITAL STRUCTURE: EVIDENCE FROM VIETNAM INDUSTRIAL FIRMS |
| Contributor | - |
| Publisher | TuEngr Group |
| Publication Year | 2563 |
| Journal Title | International Transaction Journal of Engineering, Management, & Applied Sciences & Technologies |
| Journal Vol. | 11 |
| Journal No. | 9 |
| Page no. | 11A9F: 1-9 |
| Keyword | Capital structure, M&M theorem, Industrial companies, The dynamic panel data, GMM, Firm profitability, Firm size, Firm liquidity, Firm tangibility, Firm foreign ownership. |
| URL Website | http://TuEngr.com/Vol11_9.html |
| Website title | ITJEMAST V11(9) 2020 @ TuEngr.com |
| ISSN | 2228-9860 |
| Abstract | The paper observes the factors affecting the capital structure of 102 industrial firms listed on the Vietnam stock market for 2008-2018. The study used table data methods including Pooled Regression (Pooled OLS), Fixed effects model (FEM), Random effects model (REM). Afterward, the Generalized Method of Moment (GMM) is adopted to test the hypotheses and control autocorrelation, heteroscedasticity, and potential endogeneity issues. The results reveal the positive impact of firm size and previous capital structure on the current capital structure. Also, they report that liquidity, tangibility, firm profitability, and foreign ownership are negatively correlated to capital structure. The study greatly contributes towards the enrichment of empirical evidence on capital structure in the industry. |
