Journal of Economics and Development, T. 18, S. 3 (2016)

Cỡ chữ:  Nhỏ  Vừa  Lớn

Liabilities and The Impacts on Financial Performance of The Vietnamese Listed Small and Medium-Sized Enterprises

NGUYEN THANH LAN, PHAN HONG MAI, BUI BA KHIEM

Tóm tắt


     This research aims to examine the relationship between liabilities and firm performance of the Vietnamese listed small and medium-sized enterprises (SMEs). We explore a panel data set of 61 listed SMEs in Vietnam from 2011 to 2014 and apply random-effects models to test whether the financing policy affects firm performance. It is found that leverage policy has a significantly positive impact on Tobin's q and a negative impact on ROE of the listed SMEs. Moreover, nonfinancial variables including joint stock firm age and business areas of SMEs significantly influence their performances.

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Journal of Economics & Development, ISSN: 1859-0020