IMPACT OF CAPITAL STRUTURE ON FIRM VALUE OF THE PLASTIC AND PACKAGING COMPANIES LISTED IN VIETNAM SECURITIES MARKET: THE QUANTILE REGRESSION MODEL

Abstract
This research studies 35 plastic and packaging companies listed in Vietnam securities market in the period 2012 – 2018, using the quantile regression model. The results reveal that at the percentile lower than Q40, debt ratios including the short-term debt ratio and the long-term debt ratio have positive impacts on firm value. In contrast, at percentile higher than Q40, the short-term debt ratio and the long-term debt ratio have negative impacts on firm value. Among control variables, business performance (ROA) and scale of assets (QMTS) have positive impacts on firm value.
Keywords: capital structure, firm value, plastic and packaging companies, Vietnam securities market
JEL classification: B26

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Ban biên tập Tạp chí Kinh tế & Quản trị Kinh doanh
Phòng 514, Nhà điều hành, trường Đại học Kinh tế & Quản trị Kinh doanh
Địa chỉ: Phường Tân Thịnh, thành phố Thái Nguyên
Email: tapchikt-qtkd@tueba.edu.vn; Điện thoại: 0208.3903373