Factors Affecting the Capital Structure: Evidence from Listed Real Estate Firms in Vietnam

Yen Thi Hai Nguyen (), Ninh Van Vu and Trang Quynh Bui
Additional contact information
Yen Thi Hai Nguyen: Hanoi University of Industry
Ninh Van Vu: Academy of Finance
Trang Quynh Bui: TCNH01 K15, Hanoi University of Industry

A chapter in Proceedings of the 5th International Conference on Research in Management and Technovation, 2025, pp 337-348 from Springer

Abstract: Abstract This research analyzes the data of 32 real estate firms listed in Vietnam during the period of 2019 to 2023 to examine the influence of factors on the capital structure of firms. The method used for estimation is OLS regression on panel data. By employing the method of feasible generalized least squares (FGLS), which has the advantage of overcoming variance and self-correlation phenomena. The results show that a firm’s maturity level, exp0ressed through age and scale, has a positive relationship with capital structure. On the contrary, liquidity and operational risk have a negative relationship with the capital structure of real estate firms. On the other hand, the study did not find a relationship between growth opportunities, tangible assets, and profitability with the debt ratio of firms. This research results provided additional evidence to help firm managers choose an appropriate capital structure, ensuring safety and efficiency when using the firm’s capital.

Keywords: Capital structure; Real estate firms; FEM model; REM model; GLS estimation (search for similar items in EconPapers)
Date: 2025
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-981-97-9992-3_22

Ordering information: This item can be ordered from
http://www.springer.com/9789819799923

DOI: 10.1007/978-981-97-9992-3_22

Access Statistics for this chapter

More chapters in Springer Proceedings in Business and Economics from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().