Ownership structure and capital structure : a study of Vietnamese listed firms

Thi Phuong Vy Le, Kathy Tannous

Research output: Contribution to journalArticlepeer-review

25 Citations (Scopus)

Abstract

This paper examines the relationships between ownership structure and capital structure for non-financial listed firms in Vietnam during the period 2007–2012. Although different approaches are applied in this research, all results from those models are consistent. The study finds that while foreign ownership has a negative impact on leverage, state ownership has a positive influence. Managerial ownership has a positive relation with debt level, while the effect of large ownership on debt level is not conclusive.
Original languageEnglish
Pages (from-to)319-344
Number of pages26
JournalAustralian Economic Papers
Volume55
Issue number4
DOIs
Publication statusPublished - 2016

Keywords

  • Vietnam
  • business enterprises
  • business enterprises, foreign
  • corporate governance
  • debt

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