IDEAS home Printed from https://ideas.repec.org/a/taf/oaefxx/v10y2022i1p2024358.html
   My bibliography  Save this article

Debt maturity structure and investment decisions: Evidence of listed companies on Vietnam’s stock market

Author

Listed:
  • Trang Van Thi Do
  • Duong Thuy Phan

Abstract

The article analyzes the impact of debt maturity structure and other factors on investment decisions of enterprises listed on the Vietnam’s stock market from 2010 to 2019. Data used in this study are acquired from the financial statements of 558 enterprises listed on both the Ho Chi Minh and Hanoi stock exchanges in the period 2010–2019, from the FiinPro database. S-GMM regression method is utilised to analyze the influence of debt maturity structure and other factors on investment decisions of listed companies. The analysis results shows that the debt maturity structure has a positive impact on the investment decision of the enterprises. Besides, the profitability of total assets and the fixed assets turnover also have a positive impact on the investment decision of the enterprise, while liquidity and cash flow have a negative impact on investment decisions. Based on empirical results, the study proposes some recommendations to help the managers of listed companies to build a reasonable debt maturity structure in the direction of using more long-term debts to increase investment efficiency. At the same time, the study recommends some policy implications for the Government in managing macroeconomic policies in order to create favourable conditions for businesses to access many long-term capital sources.

Suggested Citation

  • Trang Van Thi Do & Duong Thuy Phan, 2022. "Debt maturity structure and investment decisions: Evidence of listed companies on Vietnam’s stock market," Cogent Economics & Finance, Taylor & Francis Journals, vol. 10(1), pages 2024358-202, December.
    • Handle: RePEc:taf:oaefxx:v:10:y:2022:i:1:p:2024358
    DOI: 10.1080/23322039.2021.2024358
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/23322039.2021.2024358
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/23322039.2021.2024358?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

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

    More about this item

    Statistics

    Access and download statistics

    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:taf:oaefxx:v:10:y:2022:i:1:p:2024358. 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: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/OAEF20 .

    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.