Local corruption and capital structure

被引：7

作者：

Tran, Quoc Trung ^{[1
]}

Nguyen, Van Phong ^{[1
]}

Dang, Duong Huy Chuong ^{[1
]}

Nguyen, Ba Phong ^{[1
]}

Le, Phuong Linh ^{[2
]}

机构：

[1] Foreign Trade Univ, Ho Chi Minh City Campus, Ho Chi Minh City, Vietnam

[2] Foreign Trade Univ, 91 Chua Lang, Hanoi, Vietnam

来源：

FINANCE RESEARCH LETTERS | 2023年 / 55卷

关键词：

Corruption; Local corruption; Capital structure; Vietnam; CORPORATE CASH HOLDINGS; AGENCY COSTS; OWNERSHIP; GROWTH; FIRMS;

D O I：

10.1016/j.frl.2023.103937

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This paper examines how local corruption affects capital structure. With a sample of 6,156 observations from 601 firms listed in Vietnam, we find that local corruption is positively and negatively related to capital structure and capital structure adjustment speed respectively. In addition, our findings show that state ownership reduces the positive effect of local corruption on debt ratio.

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页数：8

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