scholarly journals Applying appropriate models to predict bankruptcy for Vietnamese listed construction companies

Accounting ◽  
2022 ◽  
Vol 8 (2) ◽  
pp. 101-110 ◽  
Author(s):  
Thi Hong Thuy Nguyen ◽  
Lan Phuong To ◽  
Kien Phan Trung ◽  
Thi Thuy Hang Dang
Keyword(s):  
Panel Data ◽  
Stock Market ◽  
Capital Structure ◽  
Asset Management ◽  
Financial Statements ◽  
Risk Models ◽  
Bankruptcy Risk ◽  
Construction Companies ◽  
State Management ◽  
Business Size

This study focuses on assessing the suitability and condition of various bankruptcy risk models applied to construction companies listed on the Vietnam Stock Market. In this study, the panel data were collected from the disclosed financial statements of the companies from 2012 to 2017. Through the assessment, bankruptcy risks are predicted for the companies that are experiencing initial signals such as delisting, compulsory supervision. In the next step, interviews were conducted to justify which of the following factors may indicate the companies at the risk of being bankrupted: asset management, capital structure, business size, and/or state management.

scholarly journals Effects of financial statements information on firms’ value: evidence from Vietnamese listed firms

2018 ◽  
Vol 15 (4) ◽  
pp. 210-218 ◽  
Author(s):  
Dang Ngoc Hung ◽  
Pham Duc Cuong ◽  
Vu Thi Bich Ha
Keyword(s):  
Panel Data ◽  
Stock Market ◽  
Capital Structure ◽  
Multiple Regression ◽  
Empirical Research ◽  
Firm Size ◽  
Financial Statements ◽  
Share Price ◽  
Listed Firms ◽  
Information Reporting

The paper studies the effects of information reporting in financial statements on values of Vietnamese firms. The study uses panel data with 1,070 observations from 214 firms, which are listed in the stock market of Vietnam in the period from 2012 to 2016. Multiple regression results show that the growth, firm size, profitability, auditing quality and timelineness are positively related to firm values, whereas the capital structure, auditing explanation negatively affect that indicator. The paper also indicates the inconsistency in measuring firms’ value by different measures including EV, Tobin’s Q or share price. Moreover, the research results reflect that measuring firms’ value by EV is more appropriate. The results of empirical research are instructive for enterprises to improve the usefulness of information in financial statements, thereby enhancing enterprises’ values.

The determinants of capital structure of Palestine‐listed companies

2011 ◽  
Vol 12 (3) ◽  
pp. 226-241 ◽  
Author(s):  
Faris M. Abu Mouamer
Keyword(s):  
Panel Data ◽  
Stock Market ◽  
Capital Structure ◽  
Listed Companies ◽  
Economic Sectors ◽  
Accounting Data ◽  
Content Type ◽  
Significant Difference ◽  
The One ◽  
The Relationship

PurposeThe purpose of this paper is to examine the relationship between capital structure and debt lifetime among listed companies in Palestine stock market.Design/methodology/approachThis study investigates firms that have been listed on the Palestine securities exchange (PSE) over a five‐year period (2000‐2004). In total, 28 companies were listed in PSE since 1999. Only 15 firms working in different economic sectors qualified to be included in the study sample according to the availability and continuity of published financial statements during the period of 2000‐2004. Variables used for the analysis include profitability, leverage ratios (total debt (TD), short‐term debt (STD) and long‐term debt (LTD)), liquidity (LQ), age, asset structure, and firm size and sales growth are also included as control variables. The panel character of the data allows for the use of panel data methodology. Panel data involves the pooling of observations on a cross‐section of units over several times.FindingsThe study has shown that the service companies have the highest TD ratio (53.69 percent), followed by industrial companies (50.86 percent), trade companies (34.11 percent) and agriculture companies (24.02 percent). The one way analysis of variance (ANOVA) shows no significant difference in the use of debt, neither total, LTD or STD among companies in the four sectors. Adding to that, ANOVA indicates insignificant differences among the companies in the sample with respect growth opportunities, size, age, tangibility (TAN), and LQ. The correlation analysis has shown that TD is positively and significantly related to TAN, on the country, no significant relationship between the long debt and STD on the one hand and age, growth, LQ, TAN, and size on the other hand.Originality/valueThis paper is the first that employs a new database containing the market and accounting data (from 2000 to 2004). This study will contribute in examining the relationship between capital structure and debt lifetime among listed companies in the Palestine stock market.

scholarly journals Pengaruh Struktur Modal, Profitabilitas, Rasio Aktivitas Terhadap Nilai Perusahaan

2021 ◽  
Vol 3 (1) ◽  
pp. 34
Author(s):  
Della Noviyanti ◽  
Herman Ruslim
Keyword(s):  
Panel Data ◽  
Capital Structure ◽  
Activity Ratio ◽  
Stock Exchange ◽  
Secondary Data ◽  
Sampling Technique ◽  
Financial Statements ◽  
Panel Data Regression ◽  
Data Regression ◽  
Activity Ratios

The purpose of this study is to look at the effect of capital structure, profitability, activity ratio (TATO) on the value of companies listed on the Indonesia Stock Exchange (IDX). This study was analyzed using a panel data regression tool with 21 companies in the 2014-2019 period, producing 126 data observation. The sampling technique in this study used purposive sampling. The data used in the form of secondary data, namely financial statements. Data processing using the application e-views 11. The results of this study indicate that profitability and activity ratios (TATO) significantly influence the value of the company. However, capital structure has no significant effect on firm value.Tujuan dari penelitian ini untuk melihat pengaruh struktur modal, profitabilitas, rasio aktivitas (TATO) terhadap nilai perusahaan yang terdaftar pada Bursa Efek Indonesia (BEI).Penelitian ini dianalisis menggunakan alat regresi data panel dengan 21 perusahaan pada periode 2014-2019, menghasilkan 126 data observasi. Teknik pengambilan sampel dalam penelitian ini menggunakan purpossive sampling. Data yang digunakan berupa data sekunder yaitu laporan keuangan.Pengolahan data menggunakan aplikasi e-views 11. Hasil penelitian ini menunjukkan bahwa profitabilitas dan rasio aktivitas (TATO) berpengaruh secara signifikan terhadap nilai perusahaan. Tetapi, struktur modal berpengaruh tidak signifikan terhadap nilai perusahaan.

scholarly journals Effect Of Investment Decision, Capital Structure, Profitability, And Company Size On Company Values

2021 ◽  
Vol 26 (1) ◽  
pp. 134
Author(s):  
Reza Suleman, Sumani
Keyword(s):  
Adverse Effect ◽  
Panel Data ◽  
Real Estate ◽  
Capital Structure ◽  
Firm Value ◽  
Stock Exchange ◽  
Investment Decision ◽  
Investment Decisions ◽  
Company Size ◽  
Construction Companies

This study wanted to examine the effect of investment decisions, capital structure, profitability, and company size on the value of the firm, by using samples from the property, real estate, and construction companies listed on the Indonesia stock exchange for the period 2014-2017. Hypothesis testing using the panel data method by using Eviews version 9. The results of the study showed that the investment decision, capital structure, and profitability did not have a significant effect on firm value. In contrast, the size of the company has a significant adverse effect on the value of the firm. From the results of the F test, investment decision, capital structure, profitability, company size in this study simultaneously influence the value of the firm.

Specifics of capital structure management of electronic commerce market leaders

2020 ◽  
Vol 16 (5) ◽  
pp. 905-919
Author(s):  
R.O. Voskanyan
Keyword(s):  
Capital Structure ◽  
Customer Service ◽  
Financial Statements ◽  
Financial Resources ◽  
Ratio Analysis ◽  
Timely Manner ◽  
Aggressive Approach ◽  
Scientific Methods ◽  
General Scientific ◽  
Management Policies

Subject. The article addresses leader companies of the e-commerce market in terms of sales and capitalization, that make their financial statements publicly available. Objectives. The aim is to identify special aspects of capital structure management policies of the largest e-commerce players based on ratio analysis. Methods. The study employs general scientific methods of research. Results. The paper reveals the specifics of capital structure management of the global e-commerce market leaders. The leading companies prefer an aggressive approach to the formation of their capital structure, increasing the volume of borrowed capital in comparison with their equity. The management of companies tries to provide a moderate approach to capital structure management and debt servicing, demonstrating the ability to repay debts in a timely manner. Aggressive capital structure policy is conditioned by specific activities of e-commerce companies, requiring constant search for and attraction of additional financial resources for improving production processes by management. Conclusions. Key players have an aggressive capital structure policy. This feature is necessitated by the need to systematically attract additional financing to expand the business, increase sales volumes, capture and create new markets. E-commerce companies have to constantly improve technology, logistics processes, and render a good and excellent customer service.

Panel Data Analysis of Determinants of Leverage in the Automobile Industry in India

GIS Business ◽  
2018 ◽  
Vol 13 (2) ◽  
pp. 29-47
Author(s):  
Vibha Tripathi
Keyword(s):  
Panel Data ◽  
Capital Structure ◽  
Automobile Industry ◽  
Panel Data Analysis ◽  
Negative Relationship ◽  
Order Theory ◽  
Ordinary Least Squares ◽  
Pecking Order ◽  
Trade Off ◽  
Coverage Ratio

The study tries to investigate the key determinants of capital structure of leading automobile companies and the Automobile Industry in India. The study also tracks the theory implications, i.e. trade off vs. pecking order in these firms and the industry in general. An attempt is to see, if individually each sample company and the whole industry are influenced by the same determinants of capital structure. Pooled ordinary least squares and panel data econometric techniques such as fixed effect models are used to investigate the most significant determinants that affect the capital structure choice of 10 leading companies categorized as BSE Auto Top 100 and the Automobile Industry as a whole for a period of 14 years from 2000–2001 to 2013–2014. The study reveals some interesting facts and results. Multiple regression analysis reveals that while profitability and size are significant determinants in most of the leading companies; NDTS, Growth, and Debt service coverage ratio are not significant for these companies. While the Panel data results of the Automobile Industry as a whole reveals that profitability is the only significant determinant having negative relationship with debt equity ratio; and the other variables are insignificant. Also individual companies coefficient results shows implications of mix of pecking order and trade off theories while the panel data results of the whole Industry strongly supports the Pecking order theory.

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