| dc.description.abstract | This study investigated the impact of capital structure on firm value in Vietnam real estate sector. Using a sample of 12 listed real estate firm on stock exchange centers over the five year period from 2008 to 2017 Variables including firm quality measured through Altman Z score, leverage, size, profitability, tangibility, growth, liquidity for examining their impact on firm value. We are also carried the impact of economic shock by measure through a dummy variable. An empirical study has been carried out through panel data techniques by applying General method of movement (GMM), fixed effects and random effects models. The findings of the study reveal a significant relationship of firm value with firm quality, leverage, liquidity, size and economic growth. This study shows that capital structure which is nominated through leverage ratio has positive effect on enterprise value, market capitalization, and price to book ratio. Therefore, the companies should monitor their leverage ratio closely. Firm quality is also important indicator and it affects positively and significantly on market capitalization and price to book ratio. | en_US |
