文章基本信息

标题：The impact of financial leverage on the profitability of real estate companies: A study from Vietnam stock exchange
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作者：Van Cong Nguyen ; Thi Ngoc Lan Nguyen ; Thi Thu Phong Tran 等
期刊名称：Management Science Letters
印刷版ISSN：1923-9335
电子版ISSN：1923-9343
出版年度：2019
卷号：9
期号：13
页码：2315-2326
DOI：10.5267/j.msl.2019.7.023
出版社：Growing Science
摘要：Using financial leverage (FL) has a great influence on business performance of enterprises. Therefore, the determination of the impact of FL on the profitability of enterprises helps to create synchronous solutions to improve operational efficiency of enterprises which is very important and necessary. This study aims to identify the impact of FL on Return On Assets (ROA), Return On Equity (ROE), Return On Sales (ROS), and Return On Capital Employed (ROCE). The study is conducted based on the data collected from 58 real estate firms listed in Vietnam Stock Exchange with 464 observations. The study also uses quantitative method combined with multivariable regression models to examine the hypotheses of the survey with the help of the EVIEW 11.0 software. Research results indicate that FL has no impact on ROS and ROCE while it has a negative impact on ROA and a positive impact on ROE. In accordance with the research findings, the authors propose specific recommendations and solutions to improve profitability in the real estate companies listed on Vietnam’s stock exchange.
关键词：Financial leverage; Profitability; Real estate business; Vietnam stock exchange