Does Intellectual Capital Impact On Capital Structure Of Manufacturing Firms Listed In The Vietnamese Stock Market

Abstract

The study's goal is to investigate the factors that significantly affect publicly traded Vietnamese manufacturing companies. Using a Fixed-effect model with Driscoll-Kraay standard errors, this study empirically examines the relationship between Financial Leverage (FL) and the independent and control variables of Value-Added Intellectual Capital, Firm Age, Liquidity, and Profitability rate among a sample of 34 Vietnamese manufacturing firms from 2017 to 2021. This study discovered a negative correlation between financial leverage and intellectual capital returns. Liquidity, Profitability, and Capital Structure all have strong positive correlations. Policymakers in Vietnam will be able to make informed decisions about the future of the manufacturing industry thanks to the insights gained from this study, which will also help financial managers better prioritize internal issues to boost profitability and the public's estimation of intellectual capital.