The impact of chief executi e officer’s personality on firm performance

Abstract

This paper investigates the impact of financial leverage on the performance Vietnamese firms by analyzing data collected from 100 enterprises listed on Vietnam’s stock market from 2012 to 2016. The results show that financial leverage has a negative impact on firm performance but the impact varies across ROE quantiles. If other factors are equal, financial leverage will have less negative effects on firms with low ROE quantiles. And increasing financial leverage will reduce ROE more in firms with high ROE quantiles. In addition, the firm size, net profit ratio, and asset utilization are significantly positive across ROE distributions which implies a positive effect on firm performance

Keywords

• cấu trúc vốn
• đòn bẩy tài chính
• hiệu quả hoạt động doanh nghiệp
• hồi quy phân vị
• hồi quy với dữ liệu bảng