It can be seen that the business situation and production activities of manufacturing firms in Vietnam have had many fluctuations and difficulties in finance, production, and business. Therefore, manufacturing firms should reassess the financial situation of the business to come up with solutions to enhance the value of the firms. The main purpose of this study is to analyze the impact of profitability, firm size, and liquidity on firm value with capital structure as a moderating variable with the data from manufacturing firms on the Ho Chi Minh Stock Exchange (HOSE). Research data was collected from financial statements and annual reports of 98 companies listed on HOSE in the period from 2018 to 2022. The research models are including Ordinary Least Square (OLS), Fixed effects model (FEM), Random effects model (REM), and Generalized least squares (GLS). Research results show that profitability and firm size have a positive impact on firm value while liquidity has a negative impact on firm value of manufacturing firms on HOSE. In addition, capital structure weakens the positive impact of profitability on firm value, and capital structure weakens the negative impact of liquidity on firm value. From there, some implications are proposed for manufacturing firms on HOSE to improve firm value.
Tạp chí: 11th International Conference on Electrical Engineering, Computer Science and Informatics (EECSI 2025), Yogyakarta, Indonesia on September 26-27, 2024
Tạp chí: The 4th International Conference on Innovations in Social Sciences Education and Engineering (ICoISSEE-4) Bandung, Indonesia, July, 20th, 2024
Tạp chí khoa học Trường Đại học Cần Thơ
Lầu 4, Nhà Điều Hành, Khu II, đường 3/2, P. Xuân Khánh, Q. Ninh Kiều, TP. Cần Thơ
Điện thoại: (0292) 3 872 157; Email: tapchidhct@ctu.edu.vn
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