Firm Characteristics, Capital Structure And Operat

APEA 2011 Conference Pusan National University, Busan, Korea June 24-25, 2011 Firm Characteristics, peachy Structure and operating(a) carrying into action: a Vietnamese Study Ngoc-Phi-Anh DOAN* Ngoc.doan@griffith.edu.au Jeremy D. K. NGUYEN economics.jeremy@gmail.com Department of Accounting, Finance and economics Griffith University Nathan, Brisbane, QLD 4111, Australia ABSTRACT This paper examines the relationship between firm characteristics, great structure and ope rational public presentation among a essay of 427 companies listed on the Vietnamese stock exchange during the three years 2007-2009. Whilst intimately previous studies in this area have utilize bigeminal regression as the main method of analysis, we pass off the examples of Titman and Wessels (1988) and Chang et al. (2009) and hold a structural equation modeling (SEM) approach. Specifically, we enlist course analysis to analyze simultaneous relationships among the various variables. The result s conjure up that for listed enterprises in Vietnam, operational performance has a shun limit out on both of the measures of capital structure considered, that is to say long-term debt/ amount of money assets ratio (LDR) and short-term debt/ check assets ratio (SDR), while the utmost of state ownership has a positive topic on both.

Enterprise size has a positive effect on LDR only, while enterprise mount up has a positive effect on SDR only. By contrast, task risk affects only LDR (negatively). The ratio of long-run to total assets affects the cardinal capital structure measures in opposite ways: the effect is positive on LDR and negative on SDR. We consider the licence to be inc onclusive on the question of direction of d! esigner between operational performance and LDR. *We would like to express my businesslike gratitude to Prof. Duc_Tho (Tom) Nguyen, for his guidance and advice, but require responsibility for any errors and thoughtlessness which may remain. Firm Characteristics, Capital Structure and Operational execution: a Vietnamese Study 1....If you penury to get a full essay, order it on our website: OrderEssay.net

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