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Capital Structure, Financial Risk, and Operational Efficiency: Evidence of Firms in the Food and Beverage Industry Listed on the Vietnam Stock Market

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Proceedings of the 4th International Conference on Research in Management and Technovation (ICRMAT 2023)

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Abstract

The study analyzes the impact of capital structure, financial risk, and other factors on the performance of food and beverage firms listed on the Vietnam stock market in 2011 and 2020. We use data in the financial statements of 41 food and beverage firms listed on the Ho Chi Minh Stock Exchange and the Hanoi Stock Exchange from 2011 to 2020 in the FiinPro Database. The S-GMM regression method was used to analyze the influence of capital period structure, financial risk, and other factors on the performance of listed food and beverage firms. The results show that the lagged variables of operational efficiency and capital structure have a positive impact, but financial risks have a negative impact on the performance of listed food and beverage firms. Furthermore, the study proposes some policy implications on building capital structure and building financial risk management processes, contributing to improving the performance of Vietnamese food and beverage enterprises.

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Authors and Affiliations

  1. University of Transport Technology, 54 Trieu Khuc, Thanh Xuan, Hanoi, Vietnam

    Thi Hong Le Hoang, Thuy Duong Phan & Thi Thanh Hoang

Authors
  1. Thi Hong Le Hoang
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  2. Thuy Duong Phan
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  3. Thi Thanh Hoang
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Corresponding author

Correspondence to Thuy Duong Phan .

Editor information

Editors and Affiliations

  1. Centre for Post-Graduate Studies, Hanoi University of Industry, Hanoi, Vietnam

    Thi Hong Nga Nguyen

  2. Gillings School of Global Public Health, University of North Carolina at Chapel, Chapel HIll, NC, USA

    Darrell Norman Burrell

  3. Department of Computer Science and Engineering, CMR Institute of Technology, Hyderabad, Telangana, India

    Vijender Kumar Solanki

  4. Accounting and Auditing Faculty, Academy of Finance, Hanoi, Vietnam

    Ngoc Anh Mai

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Le Hoang, T.H., Phan, T.D., Hoang, T.T. (2024). Capital Structure, Financial Risk, and Operational Efficiency: Evidence of Firms in the Food and Beverage Industry Listed on the Vietnam Stock Market. In: Nguyen, T.H.N., Burrell, D.N., Solanki, V.K., Mai, N.A. (eds) Proceedings of the 4th International Conference on Research in Management and Technovation. ICRMAT 2023. Springer, Singapore. https://doi.org/10.1007/978-981-99-8472-5_3

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