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Issue: Vol. 3 No. 5 (2022): Tạp chí Khoa học Trường Đại học Thăng Long
Section: MANAGEMENT SCIENCE
Date Published: 30/09/2022
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Chu Thi Thu, T. (2022). THE IMPACT OF CAPITAL STRUCTURE ON COMPANY’S VALUE OF JOINT-STOCK COMPANIES LISTED ON HANOI’S STOCK EXCHANGE BEFORE AND IN COVID-19 PERIOD. Thang Long Journal of Science: Applied Science, 3(5), 29-37. https://science.thanglong.edu.vn/index.php/vola/article/view/411

THE IMPACT OF CAPITAL STRUCTURE ON COMPANY’S VALUE OF JOINT-STOCK COMPANIES LISTED ON HANOI’S STOCK EXCHANGE BEFORE AND IN COVID-19 PERIOD

Chu Thị Thu Thủy1,
1 Trường ĐH Thăng Long

Main Article Content

Abstract

The objective of this study is to demonstrate the impact of capital structure on the enterprise value of joint-stock companies listed on the Hanoi Stock Exchange (HNX) before and during the COVID-19 pandemic. This study also determines the optimal capital structure of  HNX-listed joint-stock companies. The panel data regression method was used in the study, which was supported by Stata14 software. The sample research includes 314 HNX-listed joint-stock companies from the first quarter of 2018 to the fourth quarter of 2021. According to the findings of the study, due to the COVID-19 pandemic, the capital structure of joint-stock companies listed on the HNX is shifted in the following pattern, reducing debt and increasing the enterprise’s value during this period.  The study shows that the average optimal debt ratio of joint-stock companies listed on HNX is about 47.17 percent.

Keywords

Capital structure, Listing joint-stock company, The Hanoi Stock Exchange, Enterprise value.

Article Details

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