Determinants of capital structure in emerging markets: Evidence from Vietnam

Xuan Vinh Vo

Research in International Business and Finance, 2017, vol. 40, issue C, 105-113

Abstract: Capital structure decision is an important corporate behavior which draws strong interest from different stakeholders. It is more important in emerging markets due to their unique legal, cultural and institutional characteristics. This paper sheds further light on the question of whether capital structure determinants are different in emerging markets. We utilize a new and unique data set containing firm specific attributes over the period from 2006 to 2015. Employing GMM estimator to control for endogeneity, the results indicate that the determinants of capital structure are different for long-term and short-term indicators.

Keywords: Capital structure; Leverage; Firm size; Growth; Emerging markets (search for similar items in EconPapers)
JEL-codes: G10 G30 G32 K22 (search for similar items in EconPapers)
Date: 2017
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (31)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:riibaf:v:40:y:2017:i:c:p:105-113

DOI: 10.1016/j.ribaf.2016.12.001

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