The capital structure of listed enterprises in Vietnam

Abstract

This study investigates into the determinants of the capital structure and financial performance using the data obtained from the financial statements of 60 listed enterprises in Vietnam (during the years 2006- 2013). The approach of multiple regression analysis using Eviews 8.0 was applied. Empirical results show that the debt ratio of listed enterprises in Vietnam has negative relationships with liquidity and ROA but positive relationships with the size of an enterprise. Moreover, short term debt/ total asset has positive relationships with COGS /Net sales but negative with Tangible fixed assets/Total assets while long term debt /total asset have reverse relationships with them.