TAILIEUCHUNG - Determinants of firm’s capital expenditure: Empirical evidence Vietnam

This research was conducted to investigate the factors affecting the company’s capital expenditure. Data were collected from the firms listed on Ho Chi Minh Stock Exchange (HOSE) over the period of nine years from 2010 to 2018, including the sample of 192 non-financial listed companies. Three statistical approaches were employed to address econometrics issues and to improve the accuracy of the regression coefficients: Random Effects Model (REM). | Determinants of firm s capital expenditure Empirical evidence Vietnam .den color inherit .ttnd ol .ttnd ul .ttnd dl padding 0 0px 0 20px .ttnd hr margin 10px 0px .ttnd a href javascript void 0 .ttnd a href color inherit dtextscript p text-align left dtextscript img vertical-align middle Management Science Letters 10 2020 943 952 lt br gt lt br gt lt br gt lt br gt Contents lists available at GrowingScience lt br gt lt br gt lt br gt Management Science Letters lt br gt homepage msl lt br gt lt br gt lt br gt lt br gt lt br gt Determinants of firm s capital expenditure Empirical evidence from Vietnam lt br gt lt br gt lt br gt Huu Anh Nguyena and Thanh Hieu Nguyena lt br gt lt br gt lt br gt aNational lt br gt Economics University Vietnam lt br gt CHRONICLE ABSTRACT lt br gt lt br gt Article history This research was conducted to investigate the factors affecting the company s capital expenditure. lt br gt Received September 30 2019 Data were collected from the firms listed on Ho Chi Minh Stock Exchange HOSE over the period lt br gt Received in revised format No- of nine years from 2010 to 2018 including the sample of 192 non-financial listed companies. Three lt br gt vember 12 2019 lt br gt statistical approaches were employed to address econometrics issues and to improve the accuracy lt br gt Accepted November 12 2019 lt br gt Available online of the regression coefficients Random Effects Model REM Fixed Effects Model FEM and lt br gt November 12 2019 Generalized Method of Moments GMM . The results show that free cash flows and firm size in- lt br gt Keywords fluenced positively on capital expenditure. By contrast other factors such as dividend interest ex- lt br gt Capital expenditure penses depreciation and working capital had negative effects on capital expenditure. Based on the lt br gt Dividend research results some key intuitive recommendations were proposed for managers and investors in lt br gt Free cash flows order to help them in

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• Empirical evidence from Vietnam
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