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Analysis of Factors Affecting the Capital Structure of Industrial Enterprises Listed on Vietnam Stock Market

In: Proceedings of the 4th International Conference on Research in Management and Technovation

Author

Listed:
  • Cao Minh Tien

    (Academy of Finance)

  • Duong Thi Thu Trang

    (Foreign Trade University)

  • Luu Nguyen Phu

    (Academy of Finance)

  • Hoang Hai Ninh

    (Academy of Finance)

  • Vu Tuan Minh

    (FPT University)

Abstract

This study aims to analyze factors affecting the capital structure of industrial enterprises with a sample of 21 companies in Vietnam in the period 2015–2022. This study points out the factors that affect the capital structure such as: the size of the company to mobilize capital, the rate of return, financial difficulties, the tax shield from debt. This results show that there is a relationship between the index components of the thesis and the financial leverage ratio. After overcoming the model defect to find the core model of the study with factors included in the test, it could explain 44.42% of the fluctuation of financial leverage. It can be concluded that the independent variables that affect the financial leverage of industrial firms include firm size, rate of return, and non-debt tax shields. Based on this study, industrial enterprises can take steps to improve the most important metrics to improve their profits.

Suggested Citation

  • Cao Minh Tien & Duong Thi Thu Trang & Luu Nguyen Phu & Hoang Hai Ninh & Vu Tuan Minh, 2024. "Analysis of Factors Affecting the Capital Structure of Industrial Enterprises Listed on Vietnam Stock Market," Springer Books, in: Thi Hong Nga Nguyen & Darrell Norman Burrell & Vijender Kumar Solanki & Ngoc Anh Mai (ed.), Proceedings of the 4th International Conference on Research in Management and Technovation, pages 429-438, Springer.
    • Handle: RePEc:spr:sprchp:978-981-99-8472-5_40
    DOI: 10.1007/978-981-99-8472-5_40
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