The effects of family ownership on capital structure of Vietnamese listed companies
Abstract
This paper examines how family firms behave differently from non-family firms in making their funding decisions. By applying panel regression models for samples of Vietnamese listed companies in the consumer product and industrials industries over the 2008-2016 period, the authors find that family firms have higher debt ratios than non-family firms. Effects of business characteristics on financing decisions also differ from family firms and non-family firms. Particularly, asset tangibility appears to be the important influencing factor of the debt levels in non-family firms, whereas it does not have any impact on capital structure of family firms.
Document Type
Conference Proceeding
Date of Publication
2017
School
School of Business and Law
Copyright
free_to_read
Identifier
Khanh Trang Tran
ORCID: 0000-0003-3185-1847
Comments
Published as: Tran, K. T., Yong, J, & Djajadikerta, H. (2017, November). The effects of family ownership on capital structure of Vietnamese listed companies. In Djajadikerta, H., Yong, J., Mat Roni, S., Ong, T., & Jogulu, U. (Eds). Proceeding of the second Business Doctoral & Emerging Scholars Conference, Edith Cowan University, Western Australia, (p.111-116).