Open AccessDETERMINANTS OF FIRM PERFORMANCE OF VIETNAMESE LISTED REAL ESTATE COMPANIES: THE EVIDENCE OF LEVERAGE THRESHOLD
Author(s) -
Thai Duy Tung,
Ly Xuan Hai,
Lam Thi Kieu My
Publication year - 2020
Publication title -
khoa học và công nghệ
Language(s) - English
Resource type - Journals
ISSN - 2525-2267
DOI - 10.46242/jst-iuh.v37i01.309
Subject(s) - leverage (statistics) , vietnamese , business , debt , real estate , econometrics , panel data , capital structure , equity (law) , debt to equity ratio , empirical evidence , leverage effect , monetary economics , economics , finance , statistics , population , mathematics , volatility (finance) , philosophy , linguistics , demography , autoregressive conditional heteroskedasticity , sociology , political science , law , nonprobability sampling , epistemology
The aim of this paper is finding empirical evidences for the existence of factors that influence firm performance of Vietnamese listed real estate companies. A single threshold panel regression analysis is conducted to confirm threshold effect of leverage. Because of the leverage threshold effect, the impacts of firm growth, firm size, and leverage on firm performance differ in the region below and above debt to equity ratio at the level of 0.383. Performance of less levered firms are also less likely to statistically response to the determinants while the empirical evidences of impacts can be found in companies that pass the leverage threshold.