Determinants of capital structure of Vietnamese listed real estate companies
Abstract
The paper aims to investigate0the0determinants0of0capital0structure on listed
real0estate firms on0HOSE0and HNX from 2010 to 2017. The purpose of this paper is to
find0out0if there is a the significant relationship0between the firm’s specific variables with
their choice of leverage in the long run, supported by four theories: Modigliani & Miller,
pecking order, trade-off and agency cost. The result varies as different theories applied and
it is helpful for investors, as well as managers, determines the optimal capital structure to
reach the company’s own goals.
Keywords: Capital structure, growth, tangibility, profitability, operating risk,
liquidity, size, real estate companies