Firm Characteristics, Capital Structure And Operat

APEA 2011 Conference Pusan National University, Busan, Korea June 24-25, 2011 Firm Characteristics, peachy Structure and operating(a) executing: a Vietnamese Study Ngoc-Phi-Anh DOAN* Ngoc.doan@griffith.edu.au Jeremy D. K. NGUYEN economics.jeremy@gmail.com Department of Accounting, Finance and economics Griffith University Nathan, Brisbane, QLD 4111, Australia ABSTRACT This paper examines the relationship between firm characteristics, young man structure and ope rational public presentation among a specimen of 427 companies listed on the Vietnamese stock exchange during the three duration 2007-2009. Whilst intimately previous studies in this area have apply bigeminal regression as the main method of analysis, we get the examples of Titman and Wessels (1988) and Chang et al. (2009) and hold a structural equation modeling (SEM) approach. Specifically, we lock course analysis to analyze simultaneous relationships among the various variables. The results refer that for listed enterprises in Vietnam, operational performance has a shun commit out on both of the measures of capital structure considered, viz. long-term debt/ amount of money assets ratio (LDR) and short-term debt/ gist assets ratio (SDR), while the utmost of state ownership has a positive center on both.

Enterprise size has a positive effect on LDR only, while enterprise age has a positive effect on SDR only. By contrast, business concern risk affects only LDR (negatively). The ratio of long-run to total assets affects the 2 capital structure measures in opposite ways: the effect is positive on LDR and negative on SDR. We consider the turn up to be inconclusive on the questio n of direction of antecedent between operat! ional performance and LDR. *We would like to express my sedate gratitude to Prof. Duc_Tho (Tom) Nguyen, for his guidance and advice, but require responsibility for any errors and oversight which may remain. Firm Characteristics, Capital Structure and Operational operation: a Vietnamese Study 1....If you penury to get a full essay, order it on our website: OrderEssay.net

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