Financing Decision and Labor Cost: Evidence from South Asian Countries

Thi Phuong Vy Le and Xuan Vinh Vo ()
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Thi Phuong Vy Le and Xuan Vinh Vo: University of Economics Ho Chi Minh City
Authors registered in the RePEc Author Service: Võ Xuân Vinh

Journal of Economic Development, 2020, vol. 45, issue 1, 185-201

Abstract: This study investigates the effect of financial leverage on labor costs using a data sample of listed companies from Southeast Asian countries covering the period from 2009 to 2015. Using several techniques for robust results, the results show that financial leverage has a negative effect on labor costs. In addition, the study finds that the negative impact of financial leverage on labor cost tends to be less in state-owned, foreign-owned, and large companies.

Keywords: Financial Leverage; Labor Cost; Ownership Structure (search for similar items in EconPapers)
JEL-codes: G30 G32 J01 (search for similar items in EconPapers)
Date: 2020
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