Advanced
Please use this identifier to cite or link to this item: https://digital.lib.ueh.edu.vn/handle/UEH/55232
Full metadata record
DC FieldValueLanguage
dc.contributor.authorTran Thi Thuy Linh-
dc.date.accessioned2017-09-14T11:02:17Z-
dc.date.available2017-09-14T11:02:17Z-
dc.date.issued2015-
dc.identifier.issn1859 -1124-
dc.identifier.urihttp://digital.lib.ueh.edu.vn/handle/UEH/55232-
dc.identifier.urihttp://jabes.ueh.edu.vn/Home/SearchArticle?article_Id=3b6e94b3-b546-40b9-ae52-36439655f4b5-
dc.description.abstractUsing panel data along with the application of Pooled OLS, FEM, and REM estimates, this study conducts an investigation into the effects of a series of factors, namely state ownership, size, tangible assets, growth, return on assets (ROA), effective tax rate, and liquidity, on capital structure of 165 HCMC-based equitized state-owned enterprises (SOEs), categorized into three groups over the 2008–2012 period. As suggested by the findings, tangible assets, ROA, and liquidity are negatively related to leverage ratio and short-term debt ratio for the three groups of enterprises. In terms of firm size, there exists a positive correlation with leverage ratio and short-term debt ratio for Group 1 and 2 but a negative correlation with short-term debt ratio for the case of Group 3.-
dc.formatPortable Document Format (PDF)-
dc.publisherTrường Đại học Kinh tế Tp. Hồ Chí Minh-
dc.relation.ispartofJournal of Economic Development-
dc.relation.ispartofseriesJED, Vol.22(4)-
dc.subjectCapital structure-
dc.subjectState ownership-
dc.subjectFinancial leverage-
dc.subjectequitized SOEs.-
dc.titleInvestigating factors affecting capital structure of equitized state-owned enterprises in Ho Chi Minh City-
dc.typeJournal Article-
dc.relation.referenceBas, T.,Gulnur, M., & Kate, P. (2009). Determinantsof capital structure in developing countries (Working Paper). London, UK:Cass Business School.-
dc.relation.referenceChen, J. J.(2004). Determinants of capital structure of Chinese-listed companies. Journal of Business Research, 57(12), 1341–1351.-
dc.relation.referenceDeesomsak, R.,Paudyal, K., & Pescetto, G. (2004). The determinants of capital structure:Evidence from the Asia pacific region. Journalof Multinational Financial Management, 14(4-5),387–405.-
dc.relation.referenceDewenter, K.,& Pettway, R. H. (2001). Visibility versus complexity in business groups:Evidence from Japanese Keiretsu. Journalof Business, 74(1), 79–100.-
dc.relation.referenceFirth, M., Linb, C., Liua, P., & Wonga, S. M. L.(2009). Inside the black box: Bank credit allocation in China’sprivate sector. Journal of Banking and Finance, 33(6), 1144–1155.-
dc.relation.referenceJensen, M. C.,& Meckling, W. H. (1976). Theory of the firm: Managerial behavior, agencycosts, and ownership structure. Journal of Financial Economics, 3(4), 305–360.-
dc.relation.referenceJong, A. D., Kabir, R., & Nguyen, T. T.(2008). Capital structure around the world: The roles of firm-andcountry-specific determinants. Journal ofBanking and Finance, 32(9),1954–1969.-
dc.relation.referenceLi, K., Yue,H., & Zhao, L. K. (2009). Ownership,institutions, and capital structure: Evidence from China. Journal of Comparative Economics, 37(3), 471–490.-
dc.relation.referenceLiu, Q., Tian,G., & Wang, X. (2011). The effect of ownership structure on leveragedecision: New evidence from Chinese listed firms. Journal of the Asia Pacific Economy, 16(2), 254–276.-
dc.relation.referenceMacKie-Mason, J. K. (1990).Do taxes affect corporate financing decisions? Journal of Finance, 45,1471–1493.-
dc.relation.referenceModigliani,F., & Miller, M. H. (1958). The cost of capital, corporate finance, and thetheory of investment. The American Economic Review, 48(3), 261–297.-
dc.relation.referenceMyers, S. C.,& Majluf, N. (1984). Corporate financing and investment decisions whenfirms have information that investors do not have. Journal of FinancialEconomics, 13(2), 187–221.-
dc.relation.referenceNadeem, A. S.,& Wang, Z. (2011). Determinants of capital structure: An empirical study offirms in manufacturing industry of Pakistan. Managerial Finance, 37(2),117–133.-
dc.relation.referenceNguyen, T. D.K., & Ramachandran, N. (2006). Capital structure in small and medium-sizedenterprises: The case of Vietnam. ASEANEconomic Bulletin, 23(2),192–211.-
dc.relation.referenceOkuda, H., &Lai, T. P. N. (2010). The determinants of the fundraising structureof listed companies in Vietnam: Estimation of the effects of governmentownership (Global COEHi-Stat Discussion Paper Series gd09-110). Tokyo, Japan:Institute of Economic Research, Hitotsubashi University.-
dc.relation.referenceOzkan, A. (2002). An empirical analysis ofcorporate debt maturity structure. European Financial Management, 6(2), 197–212.-
dc.relation.referenceRajan, R. G.,& Zingales, L. (1995). What do we know about capital structure? Someevidence from international data. The Journal of Finance, 50(5), 1421–1460.-
dc.relation.referenceScott, J. H.Jr. (1977). Bankruptcy, secured debt, and optimal capital structure. The Journal of Finance, 32(1), 1–19.-
dc.relation.referenceSheikh, N. A.,& Wang, Z. (2011). Determinants of capital structure: An empirical study offirms in manufacturing industry of Pakistan. Managerial Finance, 37(2),117–133.-
dc.relation.referenceTran, N. T.(2007). Modern corporate finance (inVietnamese). Hanoi, Vietnam: Statistical Publishing House.-
dc.relation.referenceVietnameseGovernment. (2006). Decision No.15/2006/QD-BTC on issuing business accounting system. Retrieved fromhttp://thuvienphapluat.vn/archive/Decision-No-15-2006-QD-BTC-on-issuing-enterprise-accounting-system-vb72834.aspx-
dc.relation.referenceVietnameseGovernment. (2011). Decree No. 90/2011/ND-CP on issuance ofcorporate bonds. Retrievedfrom http://lawfirm.vn/?a=doc&id=2422-
dc.relation.referenceVietnamese Government. (2012). Decision No. 929/QD-TTg on approval of scheme ‘Restructuring ofstate-owned enterprises,’ focusing on economic groups and state-ownedcorporations period 2011–2015. Retrieved fromhttp://thuvienphapluat.vn/archive/Decision-No-929-QD-TTg-on-approval-of-scheme-restructuring-of-state-owned-ente-vb178251.aspx-
dc.relation.referenceVietnameseGovernment. (2013). Circular No. 220/2013/TT-BTC guiding implementation of anumber of articles of the Government’s Decree No. 71/2013/ND-CP dated July 11,2013, on state capital investment in enterprises and financial management overenterprises in which state holds 100% of charter capital. Retrieved fromhttp://thuvienphapluat.vn/archive/Circular-No-220-2013-TT-BTC-guiding-Decree-No-71-2013-ND-CP-state-capital-investment-in-enterprises-vb220694.aspx-
dc.relation.referenceVietnamese Government. (2014). CircularNo. 21/2014/TT-BTC promulgating the regulation on activities of authorizedrepresentatives for state capital invested in enterprises.Retrieved fromhttp://thuvienphapluat.vn/archive/Circular-No-21-2014-TT-BTC-activities-of-authorized-representatives-for-state-capital-invested-in-enterprises-vb231246.aspx-
dc.relation.referenceWald,J. K. (1999). How firm characteristic affect capital structure: Aninternational comparison. Journal ofFinancial Research, 22(2),161–187.-
dc.identifier.doihttp://doi.org/10.24311/jed/2015.22.4.04-
dc.format.firstpage92-
dc.format.lastpage116-
item.fulltextOnly abstracts-
item.openairetypeJournal Article-
item.grantfulltextnone-
item.openairecristypehttp://purl.org/coar/resource_type/c_18cf-
item.cerifentitytypePublications-
Appears in Collections:JABES in English
Show simple item record

Google ScholarTM

Check

Altmetric


Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.