The impact of corporate governance on capital structure: Experimental research from listed companies in VietNam stock market

Abstract

This study examines the impact of corporate governance on the capital structure of firms listed on Vietnam’s stock market during the 2008-2018 period. Using the GMM method to analyze data collected from 479 companies, the results show a positive correlation among independent members of the Board of Directors, BOD size, Return on Assets (ROA), fixed assets with firm’s capital structure and a negative correlation between firm size and its capital structure. The findings did not reveal any relationship between female directors and firm’s capital structure.

Keywords

• cấu truc vốn
• phương pháp gmm
• quản trị công ty
• ttck việt nam