Results (
Vietnamese) 1:
[Copy]Copied!
The models for TLEV and SLEV have high explanatory power (R2of 0.56 and 0.55)
respectively. The model for LLEV, however, had a good deal less explanatory power
(R2 of 0.43) hinting that a broader range of factors drive long-term finance decisions.
With respect to the explanatory variables, Table 7 shows that the results are, in general, in line with the Hypotheses (Section 4.1.) and past studies on capital structure in the Vietnamese context. This noted, it is clear that there are differences between the three measures of leverage in term of determinants (Table 6). TLEV has a significant negative relationship with PROF, and LIQUID but a positive one with GROWTH and STATE. For the SLEV ratio, all four significant determinants (PROF, TANG, SIZE and LIQUID) are negatively associated. Three variables GROWTH, TANG and SIZE
are positively associated LLEV while PROF is negatively associated.
Being translated, please wait..
