Determinants of captital structure of listed companies on HOSE
Abstract
This thesis is concerns to test if capital structures of listed companies in Vietnam follow any foremost capital structure theories. The analysis is conducted on a sample of 216 listed firms during the period from 2008 to 2010. The results of multiple regression model points out that factors that influence debt ratio of listed companies in Vietnam are similar to those in both developed and developing countries, especially China. More surprisingly, the relationship between profitability and financial leverage of listed companies in Vietnam is found to follow the new Pecking Order Theory which was
invented by Jean J. Chen (2003).