The impact of capital structure on financial performance - an empirical study at hotel firms in Hanoi
Tóm tắt
The article examines the impact of capital structure (CS) on financial performance (FP) of hotel firms. A sample size of 72 of 3 - 5 star hotel firms in
Hanoi city, Vietnam in a period of 3 years from 2016 to 2019 has been taken
to analyze. Firm FP is measured by ROA, ROE, ROS. The study which applies
quantitative methods along with the support of EVIEWS software points
out a statistical significance relationship. Firstly, the CS has a contrariwise
impact on ROA but no effect on ROE and ROS. Secondly, among control
variables (asset structure, expenditure ratio, revenue), the expenditure ratio
is the only one showing a contrariwise impact on ROS and the rest has no
statistical significance.