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Factors Affecting Capital Structure of Listed Construction Companies on Hanoi Stock Exchange KCI 등재 SCOPUS

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한국유통과학회 (Korea Distribution Science Association)
초록

The aim of this article is to determine the influence of factors on the capital structure of construction companies listed on the Hanoi Stock Exchange. The data of the article were collected and calculated from the financial statements of 54 construction companies listed on Hanoi Stock Exchange from 2012 to 2019. With the application of E-view software in quantitative analysis to build panel data regression model (panel data), the article has built a regression model to determine the relationship of intrinsic factors affecting the capital structure of construction companies listed on Hanoi Stock Exchange. In the study, dependent variable is capital structure, determined by the debt-toequity ratio. Profitability, coefficient of solvency, size, loan interest rate, structure of tangible assets, and growth are independent variables. The results showed that the two factors of growth and firm size positively affect the capital structure, the profitability factor has the opposite effect on capital structure. Factors of short-term debt solvency, average loan interest rate and tangible asset structure have no correlation with capital structure. The findings of this article are useful for business administrators, helping business managers make the right financial decisions to make capital structure decisions in their own conditions.

목차
Abstract
1. Introduction
2. Literature Review and Hypotheses
    2.1. Literature Review
    2.2. Hypotheses
3. Research Methods
    3.1. Research Data
    3.2. Research Model
    3.3. Research Method
4. Research Results
5. Discussion and Recommendations
    5.1. Discussion
    5.2. Recommendations
6. Conclusion
References
저자
  • Nguyet Minh NGUYEN(Faculty of Transport Economics, University of Transport Technology, Vietnam) Corresponding Author
  • Kien Trung TRAN(Faculty of Transport Economics, University of Transport Technology, Vietnam.)