| dc.description.abstract | The primary target of this research is to deeply investigate the influence of leverage on investment in the context of Vietnamese economy through a formal methodology of regression testing and estimating. Given the strong base of theories and methods from previous studies of many researchers over the few last decades, the mentioned impact tends to be significantly negative. The result of this research supports such fact, but shows some inconsistency with a number of papers' suggestion about factors such as growth opportunities, internal funds and sale. Specifically, in relation to underinvestment problems, the identified reversal effect is likely to strengthen in firms which are highly valued by the market for future investment.
Regarding the econometric methodology, there is an application of robust standard error and feasible generalized least square estimation. However, the constraints of this study involve the "dynamic confusion" of the data set as a characteristics of listed companies in Hanoi stock exchange during 2012-2016.
Key words: Leverage, Investment, Growth measures. | en_US |
