The Relationship Between Capital Structure and Performance
The Case of Vietnam
Bibliographic Data
| ID | 16910624 |
|---|---|
| Authors | Thi Xuan Hoa Nguyen, Thi Xuan Nguyen (0009-0003-4846-7398), Manh Dung Tran (0000-0001-7883-4468, National Economics University), Duc Tai Do (0000-0003-2756-0692, Hanoi University of Industry, corresponding author) |
| Year | 2025 |
| Volume | 15 |
| Issue | 2 |
| Publication date | 2025-04-01 |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | SAGE Open (JOURNAL) |
| Journal identifiers | ISSN: 2158-2440 • E-ISSN: 2158-2440 |
| Publisher | SAGE Publications (PUBLISHER • US) |
| DOI | 10.1177/21582440251343950 |
| OpenAlex | W4411498556 |
| Language | EN |
| Citations received | 1 |
| References cited | 30 |
This study clarifies the causal relationship between capital structure and performance, and examines the moderating role of firm size in this relationship. In addition, the research also investigates whether there are differences in performance and capital structure between foreign-invested firms and domestic firms. Data were collected from financial statements and other statements of 116 feed producers in Vietnam for the period from 2010 to 2022. The GMM dynamic regression method is employed to test proposed hypotheses. The results reveal that there is a causal relationship existence between capital structure and performance. In details, capital structure has a negative impact on performance, and vice versa. Size of firm contributes to making this relationship stronger. Foreign-invested firm with a lower debt ratio than local firms, but doing business more efficiency than local firms
Business · Capital structure · Debt · Debt ratio · Econometrics · Economics · Macroeconomics · Monetary economics · Panel data · Corporate Finance and Governance · Corporate Taxation and Avoidance · Working Capital and Financial Performance
| Citations per year | 1 |
|---|---|
| Citation span | 2026 - 2026 (1) |
| Highly cited | No |