Name: Over-Average Debt Ratio and Consequences (en Inglés)
Price: 172.21 PEN
Availability: InStock
Author: Lan Thanh Nguyen; Mai Hong Phan
ISBN: 9783659765667

portada Over-Average Debt Ratio and Consequences (en Inglés)

Over-Average Debt Ratio and Consequences (en Inglés)

Formato

Libro Físico

Editorial

Lap Lambert Academic Publishing

Autor

Lan Thanh Nguyen; Mai Hong Phan

Idioma

Inglés

N° páginas

Encuadernación

Tapa Blanda

ISBN13

9783659765667

Over-Average Debt Ratio and Consequences (en Inglés)

Lan Thanh Nguyen; Mai Hong Phan (Autor) · Lap Lambert Academic Publishing · Tapa Blanda

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Reseña del libro "Over-Average Debt Ratio and Consequences (en Inglés)"

Seafood industry has been a major export field of Vietnam for many years. However, that the Vietnamese seafood enterprises have used much debt for their business performances becomes a big obstacle for their sustainable development. By exploring the data set from financial statements of the Vietnamese listed seafood enterprises from 2009 to 2013, processed by Probit model, we found the common following characteristics of the listed seafood firms which have higher debt ratios than the average of the sector: (i) a long-lasting period of operation, (ii) high credit ratings, and (iii) risk preference of managers. These are non-financial factors which have been rarely examined in previous studies. It is necessary for the Vietnamese seafood firms to use debt, but using much debt decreases their return on equities (ROEs) once it is over the average debt ratio of the entire industry. This finding is proved by the fixed-effects model presented in the research. By virtue of the double-sided effect of the leverage, it is advised that managers thoughtfully consider the use of debt in the firm capital structure.