The effects of family ownership on capital structure of Vietnamese listed companies
Author Identifier
Khanh Trang Tran
ORCID: 0000-0003-3185-1847
Document Type
Conference Proceeding
School
School of Business and Law
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.
Access Rights
free_to_read
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).