PHÂN TÍCH TÁC ĐỘNG CỦA CẤU TRÚC VỐN ĐẾN HIỆU QUẢ KINH DOANH CỦA CÁC NGÂN HÀNG TMCP VIỆT NAM

Abstract

This study is conducted to examine the impact of capital structure on the business performance of joint-stock commercial banks in Vietnam. To achieve this objective, we use panel data collected from 20 banks over the period 2015–2024, in which capital structure is measured by the equity-to-total assets ratio (EQTA), and business performance is proxied by return on assets (ROA). To ensure the reliability of the results, the Feasible Generalized Least Squares (FGLS) estimation method is employed to address common issues in panel data, such as heteroskedasticity and autocorrelation. The empirical findings indicate that capital structure has a positive and statistically significant effect on bank performance. In other words, maintaining an appropriate level of equity helps banks improve profitability, while strengthening their financial foundation and mitigating operational risks. These results not only provide additional empirical evidence in the recent Vietnamese context but also suggest that banks should pay close attention to optimizing their capital structure to enhance performance and ensure sustainable development.