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

Thi Phuong Vy Le; Kathy Tannous

doi:10.1111/1467-8454.12089

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

Thi Phuong Vy Le, Kathy Tannous

Research output: Contribution to journal › Article › peer-review

27 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 language	English
Pages (from-to)	319-344
Number of pages	26
Journal	Australian Economic Papers
Volume	55
Issue number	4
DOIs	https://doi.org/10.1111/1467-8454.12089
Publication status	Published - 1 Dec 2016

Bibliographical note

Publisher Copyright:
© 2017 Flinders University and University of Adelaide and John Wiley & Sons Australia, Ltd

Keywords

Vietnam
business enterprises
business enterprises, foreign
corporate governance
debt

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10.1111/1467-8454.12089

Cite this

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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.",

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AB - 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.

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KW - business enterprises

KW - business enterprises, foreign

KW - corporate governance

KW - debt

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

Abstract

Bibliographical note

Keywords

Access to Document

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