Factors effecting financial risk: experimental evidence from Vietnam pharmaceutical enterprises

Abstract

The research assesses the impact of factors on financial risk of listed pharmaceutical companies
in Vietnam. The study used a secondary data set from the financial statements of pharmaceutical
companies listed in Vietnam stock market for the period from 2009 to 2021 combined with methods of
analyzing static panel data and performing tests model selection. The research shows that enterprises
have low debt structure; large solvency, profitability, operational efficiency, capital structure, enterprise size;
long- term existence, the level of financial risk is low. The paper results are basically consistent with financial
risk theory and related studies. The study makes recommendations to minimize the level of financial risk of
enterprises in the survey sample.