The link between financial leverage and investment decisions in Vietnam’s small and medium-sized enterprises

References

• Aivazian, V. A., Y. Ge, and J. Qiu. 2005a. “The Impact Of Leverage on Firm Investment: Canadian Evidence.” Journal of Corporate Finance 11 (1–2): 277–291. doi:10.1016/s0929-1199(03)00062-2
   Google Scholar
• Aivazian, V. A. 2005b. “Debt Maturity Structure and Firm Investment.” Financial Management 34 (4): 107–119. doi:10.1111/j.1755-053X.2005.tb00120.x.
   Web of Science ®Google Scholar
• Atella, V., E. A. Gianfranco, and L. B. Pier 2003. “Investment and Exchange Rate under Uncertainty.” CEIS Research Paper. 32, Tor Vergata University, CEIS
   Google Scholar
• Bhaird, C. M. A., and B. Lucey. 2010. “Determinants of Capital Structure in Irish SMEs.” Small Business Economics 35: 357–375. doi:10.1007/s11187-008-9162-6.
   Web of Science ®Google Scholar
• Binding, G., and A. Dibiasi. 2017. “Exchange Rate Uncertainty and Firm Investment Plans - Evidence from Swiss Survey Data.” Journal of Macroeconomics 51: 1–27. doi:10.1016/j.jmacro.2016.11.004.
   Web of Science ®Google Scholar
• Cho, S.-M., and S.-A. Kang. 2017. “The Effect of Accounting Information Quality and Competition on Investment Inefficiency: Evidence from Korea.” Asia-Pacific Journal of Accounting & Economics. doi:10.1080/16081625.2017.1392879.
   Web of Science ®Google Scholar
• Dang, V. A. 2011. “Leverage, Debt Maturity and Firm Investment: An Empirical Analysis.” Journal of Business Finance & Accounting 38 (1–2): 225–258. doi:10.1111/j.1468-5957.2010.02215.x.
   Web of Science ®Google Scholar
• Fei, C., W. Fei, Y. Rui, and L. Yan. 2019. “International Investment with Exchange Rate Risk.” Asia-Pacific Journal of Accounting & Economics 1–17. doi:10.1080/16081625.2019.1569539.
   Web of Science ®Google Scholar
• Frank, M. Z., and V. K. Goyal. 2009. “Capital Structure Decisions: Which Factors are Reliably Important?” Financial Management 38 (1): 1–37. doi:10.1111/fima.2009.38.issue-1.
   Web of Science ®Google Scholar
• Freeman, N. J., and B. N. Le 2007. “SME finance in Vietnam: Reviewing past Progress and Scoping Future Developments.” Working Draft of Technical Report, United Nations Industrial Development Organization. .
   Google Scholar
• Gomes, J. F. 2001. “Financing Investment.” American Economic Review 91: 1263–1285. doi:10.1257/aer.91.5.1263.
   Web of Science ®Google Scholar
• GSO. 2014. “Enterprise Survey 2013, Hanoi: General Statistics Office of Vietnam.” https://www.gso.gov.vn/default_en.aspx?tabid=515&idmid=5&ItemID=13733
   Google Scholar
• Hall, G., P. J. Hutchinson, and N. Michaelas. 2000. “Industry Effects on the Determinants of Unquoted SMEs’ Capital Structure.” International Journal of the Economics of Business 7: 297–312. doi:10.1080/13571510050197203.
   Google Scholar
• Jensen, M. 1986. “Agency Costs of Free Cash flow, Corporate finance, and Takeovers.” American Economic Review 76: 323–339.
   Web of Science ®Google Scholar
• Jensen, M., and W. Meckling. 1976. “Theory of the Firm: Managrial Behavior, Agency Costs, Ownership Structure.” Journal of Financial Economics 3: 305–360. doi:10.1016/0304-405X(76)90026-X.
   Web of Science ®Google Scholar
• Lai, S.-M., and C.-L. Liu. 2018. “Management Characteristics and Corporate Investment Efficiency.” Asia-Pacific Journal of Accounting & Economics 25 (3–4): 295–312. doi:10.1080/16081625.2016.1266270.
   Web of Science ®Google Scholar
• Lang, L., E. Ofck, and M. Stulz. 1996. “Leverage, Investment, and Firm Growth.” Journal of Finance Economics 40: 3–29. doi:10.1016/0304-405X(95)00842-3.
   Web of Science ®Google Scholar
• Modigliani, F., and M. H. Miller. 1958. “The Cost of Capital, Corporate finance and the Theoryof Investment.” American Economic Review 48: 261–297.
   Web of Science ®Google Scholar
• Myers, S. C. 1977. “Determinants of Corporate Borrowing.” Journal of Finance Economics 5: 146–176. doi:10.1016/0304-405X(77)90015-0.
   Web of Science ®Google Scholar
• Myers and Majluf. 1984. “Corporate financing and investment decision when firms have information that investors do not have”. Journal of Financial Economics, 13 (2): 187–221.
   Google Scholar
• OECD. 2005. OECD SME and Entrepreneurship Outlook: 2005, 7. OECD Paris. https://stats.oecd.org/glossary/detail.asp?ID=3123
   Google Scholar
• Phan, Q. T. 2018. “Corporate Debt and Investment with Financial Constraints: Vietnamese Listed Firms.” Research in International Business and Finance 46: 268–280. doi:10.1016/j.ribaf.2018.03.004.
   Web of Science ®Google Scholar
• Ross, G. C. 1977. “The Determinants of Financial Structure: The Inventive Signaling Approach.” Journalof Economics and Management Science 8: 23–40.
   Google Scholar
• Sogorb-Mira, F. 2005. “How SME Uniqueness Affects Capital Structure: Evidence Form a 1994-1998 Spanish Data Panel.” Small Business Economics 25: 447–457. doi:10.1007/s11187-004-6486-8.
   Web of Science ®Google Scholar
• Trinh, H. T., M. Kakinaka, D. Kim, and T. Y. Jung. 2017. “Capital Structure and Investment Financing of Small and Medium-Sized Enterprises in Vietnam.” Global Economic Review 46 (3): 325–349. doi:10.1080/1226508X.2017.1340184.
   Web of Science ®Google Scholar
• UNU-WIDER 2018. “The Small and Medium Enterprise Survey in Vietnam.” https://www.wider.unu.edu/database/viet-nam-sme-database
   Google Scholar
• Vo, X. V., and C. Ellis. 2017. “An Empirical Investigation of Capital Structure and Firm Value in Vietnam.” Finance Research Letters 22 (C): 90–94. doi:10.1016/j.frl.2016.10.014.
   Google Scholar