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).

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