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Effects of Financial Crisis on Capital Structure of Listed Firms in Vietnam

Author

Listed:
  • Truong Hong Trinh
  • Nguyen Thao Phuong

Abstract

This paper investigates effects of financial crisis on capital structure of listed firms in Vietnam. Regression models on the relation between the leverage and firm size, growth, profitability, tangibility, together with crisis dummies is built based on a sample of 265 firms listed on HNX and HOSE for the period of 2006-2013. The empirical result indicates that firm size, profitability, and tangibility have statistically significant impacts on capital structure. The growth is not statistically significant in explaining the variance of the leverage. The study result also reveals that capital structure of Vietnamese listed firms has not changed significantly under the financial crisis.

Suggested Citation

  • Truong Hong Trinh & Nguyen Thao Phuong, 2016. "Effects of Financial Crisis on Capital Structure of Listed Firms in Vietnam," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 7(1), pages 66-74, January.
    • Handle: RePEc:jfr:ijfr11:v:7:y:2016:i:1:p:66-74
    DOI: 10.5430/ijfr.v7n1p66
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    Cited by:

    1. Joel , ISABIRYE, 2021. "Impact Of Economic Crises On Firms: A Literature Review," Annals of Spiru Haret University, Economic Series, Universitatea Spiru Haret, vol. 21(3), pages 225-250.
    2. Strike Mbulawa & Nathan F. Okurut & Mogale Ntsosa & Narain Sinha, 2020. "Optimal Capital Structure and Speed of Adjustment under Hyperinflation and Dollarization," Global Journal of Emerging Market Economies, Emerging Markets Forum, vol. 12(2), pages 158-177, May.
    3. Suratno & Syahril Djaddang & Imam Ghozali, 2017. "The Role of Business Risk and Non Debt Tax Shields to Debt to Equity Ratio on Pharmacy Listed Companies in Indonesia," International Journal of Economics and Financial Issues, Econjournals, vol. 7(2), pages 73-80.

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