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Factors Affecting Financial Distress of Enterprises: Evidence from Basic Chemical Enterprises Listed in Vietnam

In: Proceedings of the 5th International Conference on Research in Management and Technovation

Author

Listed:
  • Tan Huu Nguyen

    (Academy of Finance)

  • Nam Pham Nhat Do

    (IC&Partners Limited Liability Company)

  • Khang Bui Minh Nguyen

    (Hoa Phat Dung Quat Steel Joint Stock Company)

  • Anh Minh Nguyen

    (Academy of Finance)

  • Quan Anh Dinh

    (Academy of Finance)

  • Nhi Uyen Vu

    (Academy of Finance)

Abstract

This study examines the factors influencing financial strain among listed basic chemical manufacturing companies in Vietnam over a six-year period from 2018 to 2023, with a particular focus on the impact of the COVID-19 pandemic. A dataset comprising companies listed on the HOSE and HNX exchanges was constructed and analyzed using Excel software. Descriptive statistics and regression analyses were conducted to investigate the relationship between various financial metrics and financial strain. The results indicate that Return on Equity (ROE) positively influences both the current ratio (CR) and quick ratio (QR), while the Leverage Ratio (LEV) negatively impacts CR. Furthermore, the Net Cash Flow from Operating Activities to Revenue Ratio positively affects CR. The study also finds that the COVID-19 pandemic has exacerbated the impact of the Leverage Ratio on financial strain. Based on these findings, recommendations are provided for listed companies to manage financial strain effectively.

Suggested Citation

  • Tan Huu Nguyen & Nam Pham Nhat Do & Khang Bui Minh Nguyen & Anh Minh Nguyen & Quan Anh Dinh & Nhi Uyen Vu, 2025. "Factors Affecting Financial Distress of Enterprises: Evidence from Basic Chemical Enterprises Listed in Vietnam," Springer Proceedings in Business and Economics, in: Nga Thi Hong Nguyen & José António C. Santos & Vijender Kumar Solanki & Anh Ngoc Mai (ed.), Proceedings of the 5th International Conference on Research in Management and Technovation, pages 19-35, Springer.
    • Handle: RePEc:spr:prbchp:978-981-97-9992-3_2
    DOI: 10.1007/978-981-97-9992-3_2
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