NGHIÊN CỨU SỰ ẢNH HƯỞNG CỦA CẤU TRÚC TÀI CHÍNH TỚI HIỆU QUẢ KINH DOANH CỦA CÁC DOANH NGHIỆP NIÊM YẾT TRÊN THỊ TRƯỜNG CHỨNG KHOÁN VIỆT NAM

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Tác giả: Thị Thu Loan Bùi, Thị Nguyệt Dung Nguyễn

Ngôn ngữ: vie

Ký hiệu phân loại:

Thông tin xuất bản: Tạp chí Khoa học & Công nghệ - Trường Đại học Công nghiệp Hà Nội, 2023

Mô tả vật lý: tr.149

Bộ sưu tập: Metadata

ID: 342947

Thêm vào giỏ Liên kết toàn văn

Nghiên cứu này nhằm mục tiêu đánh giá ảnh hưởng của cấu trúc tài chính tới hiệu quả kinh doanh của các doanh nghiệp niêm yết trên thị trường chứng khoán Việt Nam. Để thực hiện mục tiêu nghiên cứu, nhóm tác giả tiến hành phân tích định lượng thông qua mô hình GMM hai bước dựa trên bộ dữ liệu chéo và số liệu theo chuỗi thời gian được thu thập từ báo cáo tài chính và báo cáo thường niên của 481 doanh nghiệp niêm yết tại Sở giao dịch chứng khoán TP. Hồ Chí Minh và Sở giao dịch chứng khoán Hà Nội trong giai đoạn 2012-2020. Kết quả nghiên cứu chỉ ra rằng: (i) cấu trúc tài chính thông qua chỉ tiêu tỷ lệ nợ (TD) có ảnh hưởng tích cực tới ROA và có mối quan hệ phi tuyến (chữ U) với ROE
(ii) Cấu trúc tài chính thông qua chỉ tiêu tỷ lệ nợ ngắn hạn (STD) có ảnh hưởng tích cực tới cả ROA và ROE. Dựa trên kết quả nghiên cứu, bài báo đã đề xuất một số hàm ý trong việc nâng cao hiệu quả kinh doanh dưới góc độ sự ảnh hưởng của cấu trúc tài chính của các doanh nghiệp niêm yết trên thị trường chứng khoán Việt Nam.The basic objective of this research is assessing the impact of the financial structure on the on business efficiency of Vietnam stock market listed companies.To accomplish the research objectives, the authors conducted a quantitative analysis through the GMM models, based on the 2-component data set with cross data and time series data which was collected from financial statements and annual reports of 418 non-financial companies listed in the period of 2012 to 2020. The results show that: (i) The financial structure by the debt ratio (TD) has a positive influence on ROA and has a nonlinear relationship (U-shaped) with ROE
(ii) The financial structure by the short-term debt ratio (STD) has a positive influence on both ROA and ROE. Based on the research results, the article has proposed some implications for improving business efficiency from the perspective of the influence of financial structure of listed companies on the stock market in Vietnam.

1. Đọc trực tuyến

1. Đọc trực tuyến

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