IDEAS home Printed from https://ideas.repec.org/a/ids/afasfa/v9y2019i1p80-100.html
   My bibliography  Save this article

The impact of large ownership on capital structure of Vietnamese listed firms

Author

Listed:
  • An Thai
  • Tri M. Hoang

Abstract

This paper seeks to explore the determinants of the capital structure of Vietnamese listed companies with an emphasis on large ownership based on an updated sample of 261 firms listed on Ho Chi Minh Stock Exchange during the period 2007-2014. Using several estimators, including pooled ordinary least squares, random effects, fixed effects and fixed effects regression with clusters, our empirical results demonstrate that the proportion of blockholders investment is linear and negatively associated with short-term, total book and market leverage. There is no evidence about the non-linear relationship between large ownership and the capital structure of the observed firms.

Suggested Citation

  • An Thai & Tri M. Hoang, 2019. "The impact of large ownership on capital structure of Vietnamese listed firms," Afro-Asian Journal of Finance and Accounting, Inderscience Enterprises Ltd, vol. 9(1), pages 80-100.
    • Handle: RePEc:ids:afasfa:v:9:y:2019:i:1:p:80-100
    as

    Download full text from publisher

    File URL: http://www.inderscience.com/link.php?id=96915
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Nam Hoai Tran & Chi Dat Le, 2022. "Ownership concentration and firm valuation in a typical frontier market," Afro-Asian Journal of Finance and Accounting, Inderscience Enterprises Ltd, vol. 12(4), pages 427-454.
    2. An Thai & Radu Burlacu, 2022. "Adjustment Speed toward Target Leverage Throughout the Vietnamese Corporate Life Cycle: Under-Versus Over-the-Target Firms," Journal of Business Cycle Research, Springer;Centre for International Research on Economic Tendency Surveys (CIRET), vol. 18(3), pages 315-341, November.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ids:afasfa:v:9:y:2019:i:1:p:80-100. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sarah Parker (email available below). General contact details of provider: http://www.inderscience.com/browse/index.php?journalID=214 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.