The Impact Of Financial Leverage, Investment And Working Capital Policies On Firm Performance: The Case Of Vietnamese Listed Seafood Export Companies

Abstract

The corporate finance literature has traditionally focused on the study of the impact of financial decisions on firm performance. This paper examine the effects of financial leverage, working capital management policy in relation to investment activities and management capacities on the performance of Vietnamese listed seafood export companies for the period 2007-2010. The findings revealed that firms with high financial leverage, aggressive working capital policy and high level of investment have suffered the most during industry downturn. We also found that market development capacity was an important factor that impacts on firm performance.

Keywords

• đòn bẩy tài chính
• mức độ đầu tư
• vốn lưu chuyển
• hiệu quả kinh doanh
• doanh nghiệp xuất khẩu thủy sản việt nam.