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Determinants of debt-to-equity ratio (financial leverage) - Vietnamese firms case study

By Nguyen Thanh Bien (VNP 16)

Supervisor: Dr. Le Anh Tuan

Abstract

This study points out determinants of debt-equity ratio (financial leverage) of 396 Vietnamese firms listed on Stock Exchange (HOSE and HNX) during 2006-2010. The result of regression indicates consistence of Vietnamese case with capital structure theories including trade-off, pecking order and agency. The study also investigates differences between public and private companies related to tangibility.

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