Advanced
Please use this identifier to cite or link to this item: https://digital.lib.ueh.edu.vn/handle/UEH/55197
Full metadata record
DC FieldValueLanguage
dc.contributor.authorTran Thuy Linh-
dc.contributor.otherTa Thi Thuy-
dc.date.accessioned2017-09-14T11:02:11Z-
dc.date.available2017-09-14T11:02:11Z-
dc.date.issued2014-
dc.identifier.issn1859 -1124-
dc.identifier.urihttp://digital.lib.ueh.edu.vn/handle/UEH/55197-
dc.identifier.urihttp://jabes.ueh.edu.vn/Home/SearchArticle?article_Id=d9b4cf9a-0709-4999-84c5-fa619c551144-
dc.description.abstractThe research aims to analyze the impact of financing decisions on investment ones and examine the relationships between leverage, debt maturity structure, investment and growth opportunities. A system-based model is employed, including three structural equations in which leverage, debt maturity and investment are adopted as endogenous variables. The research data consist of 100 enterprises listed on HOSE and HNX in the period 2007-2012. The results indicate that financial leverage negatively correlates with investment decisions, whereas no correlation is revealed between debt maturity and corporate investment, which is compliant with findings by Dang (2011) and Aivazian et al. (2005). Accordingly, for Vietnamese enterprises, there exists an interaction among leverage, debt maturity and investment. Financial leverage and debt maturity are used as alternative strategies to control corporate liquidity.-
dc.formatPortable Document Format (PDF)-
dc.publisherTrường Đại học Kinh tế Tp. Hồ Chí Minh-
dc.relation.ispartofJournal of Economic Development-
dc.relation.ispartofseriesJED, No. 220-
dc.subjectFinancial leverage-
dc.subjectDebt maturity-
dc.subjectInvestment-
dc.titleImpact of leverage and debt maturity on investment decisions of Vietnam’s enterprises-
dc.typeJournal Article-
dc.relation.referenceAivazian, V.A., Y. Geb & J. Qiu (2005a), “The Impact of Leverage on Firm Investment: Canadian Evidence”, Journal of Corporate Finance, Vol.11(1), pp.277-291.-
dc.relation.referenceAivazian, V.A., Y. Geb & J. Qiu (2005b), “Debt Maturity Structure and Firm Investment”, Financial Management, Vol.34(4), pp.107-119.-
dc.relation.referenceAntoniou, A., Y. Guney & K. Paudyal (2006), “The Determinants of Debt Maturity Structure: Evidence from France, Germany and the UK”, European Financial Management, Vol.12(2), pp.161-194.-
dc.relation.referenceBerk, J. & P. DeMarzo (2007), Corporate Finance, Pearson.-
dc.relation.referenceChilds, P.D., D.C. Mauer & S.H. Ott (2005), “Interactions of Corporate Financing and Investment Decisions: The Effect of Agency Conflicts”, Journal of Financial Economics, Vol.76(3), pp.667–690.-
dc.relation.referenceDang, V.A. (2011), “Leverage, Debt Maturity and Firm Investment: An Empirical Analysis”, Journal of Business Finance and Accounting, Vol.38(1-2), pp.225-258.-
dc.relation.referenceFranklin, J. & K. Muthusamy (2011), “Impact of Leverage on Firms Investment Decision”, International Journal of Scientific & Engineering Research, Vol.2(4), pp.1-16.-
dc.relation.referenceJensen, M. & W. Meckling (1976), “Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure”, Journal of Financial Economics, Vol.3(4), pp.305-360.-
dc.relation.referenceMcConnell, J.J. & H. Servaes (1995), “Equity Ownership and the Two Faces of Debt”, Journal of Financial Economics, Vol.39(1), pp.131-157.-
dc.relation.referenceModigliani, F. & M.H. Miller (1958), “The Cost of Capital, Corporation Finance and the Theory of Investment”, The American Economic Review, Vol.48(3), pp.261-297.-
dc.relation.referenceMyers, S.C. (1977), “Determinants of Corporate Borrowing”, Journal of Financial Economics, Vol.5(2), pp.147-175.-
dc.relation.referenceMyers, S.C. & N.S. Majluf (1984), “Corporate Financing and Investment Decisions When Firms Have Information that Investors Do Not Have”, Journal of Financial Economics, Vol.13(2), pp.187-221.-
dc.relation.referenceStohs, M.H. & D.C. Mauer (1996), “The Determinants of Corporate Debt Maturity Structure”, Journal of Business, Vol.69(3), pp.279-312.-
dc.identifier.doihttp://doi.org/10.24311/jed/2014.220.07-
dc.format.firstpage97-
dc.format.lastpage115-
item.cerifentitytypePublications-
item.grantfulltextnone-
item.openairetypeJournal Article-
item.fulltextOnly abstracts-
item.openairecristypehttp://purl.org/coar/resource_type/c_18cf-
Appears in Collections:JABES in English
Show simple item record

Google ScholarTM

Check

Altmetric


Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.