• Version
• Download 5
• File Size 0.00 KB
• File Count 1
• Create Date 01/03/2020
• Last Updated 04/10/2020

Determinants of leverage: Case study of Vietnam seafood processing and exporting industry both for listed and unlisted firms

By Pham Thi Truc Lam (VNP 15)

Supervisor: Dr. Nguyen Trong Hoai

Abstract

Although there are many prior studies about leverage as well as capital structure on the world in general and Vietnam in particular, results of these researches are still inconsistent. Moreover, in context of Vietnam, most of studies about leverage are of listed firms. So, this study works with data of both listed and unlisted firms. The purpose of this study is to examine the relative importance of some factors to the leverage of Vietnam seafood processing and exporting enterprises. A sample of 20 listed and 15 unlisted enterprises for a period of 3 years from 2009 to 2011 was chosen and tested base on pecking order theory and trade off theory. The results finding from the thesis is that firm growth opportunities and firm size have positive related to leverage, profitability, liquidity have a negative effect to leverage whereas tangibility assets and non-debt tax shield have no impact on leverage of Vietnam seafood processing and exporting enterprises.

Attached Files