(Luận văn) capital structure and firm performance, case study , listed companies in hochiminh stock exchage

MINISTRY OF EDUCATION AND TRAINING UNIVERSITY OF ECONOMICS HOCHIMINH CITY - oOo - ng ep hi n w lo ad th yj HUỲNH ANH KIỆT ip uy an lu la va n CAPITAL STRUCTURE AND FIRM PERFORMANCE: fu ll CASE STUDY: LISTED COMPANIES IN HOCHIMINH STOCK EXCHANGE oi m nh at z z jm ht vb k gm MASTER THESIS m co l an Lu n va ey t re Ho Chi Minh City – 2010 th MINISTRY OF EDUCATION AND TRAINING UNIVERSITY OF ECONOMICS HOCHIMINH CITY - oOo - ng ep hi n w lo ad th yj HUỲNH ANH KIỆT ip uy la an lu CAPITAL STRUCTURE AND FIRM PERFORMANCE: n va CASE STUDY: LISTED COMPANIES IN HOCHIMINH STOCK EXCHANGE ll fu oi m nh at MAJOR: BUSINESS ADMINISTRATION z z MAJOR CODE: 60.34.05 jm ht vb MASTER THESIS k : PROFESSOR NGUYỄN ĐÔNG PHONG gm INSTRUCTOR m co l an Lu n va ey t re th Ho Chi Minh City – 2010 ACKNOWLEDGEMENT ng I would like to express my deepest gratitude to my research Instructor, Professor Nguyen Dong Phong for his intensive support, valuable suggestions, guidance and encouragement during the course of my study ep hi n w My sincere thanks are also due to Dr Vo Thi Quy and Dr Tran Ha Minh Quan for their valuable time as the members of the proposal examination committee Their comments and constructive suggestions were of great help in my completing this study lo ad th My sincere thanks is extended to Assistant Professor Nguyen Dinh Tho, Dr Tran Ha Minh Quan, Dr Truong Tan Thanh, Dr Pham Huu Hong Thai, Dr Bui Thanh Trang for their valuable time as members of examination committee Their comments and suggestions were of great value for my study yj ip uy lu la an I would like to express my sincere gratitude to all of my teachers at Faculty of Business Administration and Postgraduate Faculty, University of Econimics Hochiminh City for their teaching and guidance during my MBA course n va fu ll I would like to specially express my thanks to all of my classmates, my friends from www.caohockinhte.vn for their support and encouragement oi m nh at I would also like to avail this opportunity to express my appreciation to Professor z Nguyen Dong Phong, UEH Board of Directors for creating MBA program in z jm ht vb English and Dr Tran Ha Minh Quan for his support during the course Finally, I heartily dedicate this study to my beloved parents and my wife, Vu Thi k gm Huyen who have always sacrificed to encourage and support me during my study m co l an Lu n va ey t re th i ABSTRACT ng This study investigates the relationship between firm capital structure and firm hi ep performance The author explores both the effect of firm performance on firm captial structure as well as the effect of capital structure on firm market n w performance using cross-sectional data representing of 162 Vietnamese companies lo in Hochiminh Stock Exchange for 2008 According to the results, a firm ad th profitability is found to have a significant and negative impact on all firm capital yj structure This finding support pecking order theory of Myers and Majluf (1984) ip uy An interesting finding is that firm size has a positive and significant impact on the lu la leverage, which consistent with a previous study of Rajan and Zingales (1995), and an indicating that a firm size is an important determinant of corporate capital n va structure Firm capital structure is confirmed to have positive and significant ll fu impacts on firm market performance which is measured by Tobin’s Q The author nh the firm value Tobin’s Q oi m also finds that firm growth opportunities have a positive and significant impact on at z z jm ht vb Keywords: Capital structure, corporate performance, Vietnam, HOSE k gm m co l an Lu n va ey t re th ii (Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage (Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage TABLE OF CONTENTS ng ep hi ACKNOWLEDGEMENT .i ABSTRACT ii TABLE OF CONTENTS iii LIST OF FIGURES .v LIST OF TABLES vi ABBREVIATIONS vii CHAPTER 1: INTRODUCTION 1.1 BACKGROUND 1.2 RESEARCH PROBLEMS 1.3 RESEARCH OBJECTIVES 1.4 RESEARCH METHODOLOGY AND SCOPE 1.5 STRUCTURE OF THE STUDY CHAPTER 2: LITERATURE REVIEW 2.1 INTRODUCTION 2.2 CAPITAL STRUCTURE 2.3 FIRM PERFORMANCE 11 2.4 HYPOTHESIS AND EMPIRICAL MODEL 12 2.4.1 Model 1: The Leverage Model 12 2.4.2 Model 2: The Firm Value Model .15 CHAPTER 3: RESEARCH DESIGN 18 3.1 INTRODUCTION 18 3.2 DATA 18 3.3 RESEARCH DESIGN 18 3.3.1 Research Sample 19 3.3.2 Data Analysis Method 20 3.4 VARIABLES MEASUREMENT FOR MODEL 20 3.4.1 Dependent Variables 20 3.4.2 Independent Variables 21 3.5 VARIABLES MEASUREMENT FOR MODEL 21 3.5.1 Dependent Variables 21 3.5.2 Independent Variables 22 3.6 FRAMEWORK OF THE STUDY 23 3.7 SUMMARY 24 CHAPTER 4: EMPIRICAL RESULTS OF THE RESEARCH 25 4.1 INTRODUCTION 25 4.2 CHARACTERISTICS OF RESEARCH SAMPLES 25 4.3 DESCRIPTIVE STATISTICS 26 4.4 REGRESSION ANALYSIS 29 4.4.1 Model 1: The Leverage Model 29 4.4.2 Model 2: The Firm Value Model 32 CHAPTER 5: CONCLUSIONS, RECOMMENDATIONS AND LIMITATIONS 38 5.1 INTRODUCTION 38 5.2 CONCLUSIONS 38 n w lo ad th yj ip uy an lu la n va ll fu oi m nh at z z jm ht vb k gm m co l an Lu n va ey t re th iii (Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage (Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage ng 5.3 RECOMMENDATIONS 39 5.4 LIMITATIONS 40 REFERENCES 41 APPENDIX A .44 APPENDIX B 45 APPENDIX C 51 ep hi n w lo ad th yj ip uy an lu la n va ll fu oi m nh at z z jm ht vb k gm m co l an Lu n va ey t re th iv (Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage (Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage LIST OF FIGURES Figure 1: The Leverage Model 14 ng ep hi Figure 2: The Firm Value Model 17 Figure 3: Research Process 19 n w Figure 4: Framework of the study 23 lo ad th yj ip uy an lu la n va ll fu oi m nh at z z jm ht vb k gm m co l an Lu n va ey t re th v o w n lo ad (Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage u yj th Capital Structure and Firm Performance yi pl ua al APPENDIX C n va n Research Data Set ll fu oi m Company name PROF (%) Sector TOBIN'S Q Ticker ABT BenTre Aquaproduct Import & Export JSC Food Producers 8,7353 1,3479 ACL Cuulong Fish JSC Food Producers 25,6759 AGF An Giang Fisheries Import & Export JSC Food Producers 6,9761 ALP Alphanam JSC ALT ALTA Company ANV Nam Viet Corporation ASP AN PHA S.G PETROL JSC Gas, Water & Multiutilities 13,1285 BAS BASACO Food Producers 10,2066 z at nh No z vb 5,9434 26,8833 0,1035 0,8650 2,6019 0,6266 1,6780 0,1073 0,5193 1,1182 27,2021 0,1085 0,6114 15,5980 0,5260 1,1458 0,0349 0,4911 0,6841 28,3736 0,2903 1,1639 17,2308 0,2564 0,3682 0,0059 0,2506 0,7162 27,9005 0,0816 1,1674 8,6802 0,2089 0,2641 0,0000 0,2089 0,5853 25,9619 0,3654 13,0363 1,0686 12,6941 0,3979 0,6609 0,0287 0,3692 0,8644 28,8358 0,1835 0,6420 6,7131 0,5454 1,3422 0,1040 0,4414 0,7983 27,9921 0,1306 0,8561 559,25 0,5573 1,2591 0,0576 0,4997 0,9708 26,2193 0,1916 k jm l.c gm 1,1769 1,0705 11 BMC Binh Dinh Minerals JSC 42,9825 12 BMP Binh Minh Plastics JSC 13 BPC Bim Son Packaging JSC Mining Household Goods General Industrials 14 BT6 Chau Thoi Concrete Corporation No.620 Construction & Materials 15 CAN Canfoco Halong Canned Food Corporation Food Producers 0,5456 27,0244 0,2301 0,9637 27,3981 0,2962 5,2734 12,2302 0,0579 0,0614 0,0016 0,0563 4,3892 25,5921 0,1480 28,2367 1,7735 5,3737 0,1372 0,1590 0,0013 0,1359 1,0479 27,4466 0,3297 18,3364 1,3007 4,1709 0,1685 0,2026 0,0077 0,1608 0,6376 25,9485 0,3239 10,7989 1,5036 17,9650 0,4943 0,9773 0,1282 0,3660 1,4921 27,4617 0,0936 14,9065 0,8258 4,1484 0,4934 0,9771 0,0888 0,4045 0,8146 26,7611 0,1730 24,2976 0,9551 4,0000 0,5742 1,3483 0,0004 0,5737 1,1035 27,5516 0,1594 9,0315 1,7965 15,5361 0,1193 0,1355 0,0196 0,0997 1,0351 28,7532 0,0546 11,7921 0,6296 5,7070 0,6304 1,7056 0,3191 0,3113 0,8903 26,3333 0,3218 y ac th si Construction & Materials 0,1668 0,1853 te Chang Yih Ceramic JSC 0,0175 0,2613 n CYC 0,2260 0,8070 va 18 0,1843 0,4466 an Lu Gas, Water & Multiutilities 10,5017 (7,1512) re 7,7031 3,3041 om Food Producers Food Producers Tobacco TA 0,5708 Bien Hoa Confectionery Corp Cat Loi JSC SIZE (Sales) 0,1115 Bien Hoa Sugar JSC Materials - Petroleum JSC GROWTH 0,0000 BHS CLC STDTA 0,1254 BBC COM LTDTA 0,1115 17 TDTE 7,8541 10 16 TDTA 5,7385 ht Industrial Engineering Household Goods Food Producers PE eg cd jg Page 51 hg (Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage o w n lo ad (Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage u yj th Capital Structure and Firm Performance yi pl ua al No Ticker Company name PROF (%) Sector n DCC DESCON Construction Corp 20 DCL Cuu Long Pharmaceutical Corp 21 DCT Dongnai Roofsheet & Construction Material JSC 22 DDM Dong Do Marine JSC 23 DHA 24 n va 19 TOBIN'S Q PE TDTA TDTE LTDTA STDTA GROWTH SIZE (Sales) TA ll fu Construction & Materials 5,1190 0,7877 7,9478 0,4690 0,8833 0,0552 0,4138 0,7257 26,8796 0,0159 Pharmaceuticals & Biotechnology 14,7503 1,0536 6,6813 0,5051 1,0185 0,1959 0,3091 1,0629 26,9057 0,3894 m Construction & Materials 1,2662 3,9001 0,1495 0,1758 0,0415 0,1080 0,5620 26,0065 0,0820 10,1197 0,2419 9,7379 0,8665 6,4898 0,6184 0,2480 0,9749 26,3215 0,6706 Hoa An JSC Construction & Materials 17,1894 1,5612 5,0456 0,0711 0,0766 0,0057 0,0654 0,7034 25,7905 0,0424 DHG Hau Giang Pharmaceutial JSC Pharmaceuticals & Biotechnology 16,4223 2,8513 18,4649 0,3537 0,5498 0,0140 0,3397 2,5562 28,0487 0,9870 25 DIC DIC Investment & Trading JSC Construction & Materials 0,5498 5,2808 0,6705 2,2703 0,0322 0,6383 0,9403 27,2268 0,2122 26 DMC Domesco Medical Import & Export JSC Pharmaceuticals & Biotechnology 1,8944 10,9113 0,2237 0,2881 0,0027 0,2210 1,3417 27,5704 0,1605 27 DNP DongNai Plastic Construction JSC 28 DPC Da Nang Plastic JSC 29 DPM Petrovietnam Fertilizer and Chemical JSC 30 DPR DONG PHU RUBBER JSC 31 DQC Dien Quang JSC 32 DRC DaNang Rubber JSC 33 DTT DoThanh Technology Corporation 34 DXV 35 oi 14,4630 Industrial Transportation z at nh z ht 15,5193 k jm 13,5955 gm 4,2489 0,5276 1,1167 0,0799 0,4477 0,7562 25,9850 0,2262 16,2710 1,4782 6,2715 0,1182 0,1340 0,0055 0,1127 0,7146 24,9881 0,2137 0,7011 103,09 3,4436 9,4554 0,0868 0,0956 0,0024 0,0845 2,6111 29,5018 0,3241 25,1025 1,8204 om l.c 0,3456 0,5305 0,0383 0,3072 1,5121 27,3147 0,3983 5,1956 0,6168 235,19 0,5671 1,3265 0,1170 0,4501 0,7584 26,6894 0,0741 0,7721 4,9907 0,6485 1,8446 0,1551 0,4933 1,0691 27,9064 0,2546 General Industrials 8,6368 1,4395 8,8707 0,0494 0,0519 0,0002 0,0492 0,5383 25,4444 0,1689 Da Nang Construction Building Materials And Cement Construction & Materials 7,3180 0,4750 9,1269 0,7207 0,4926 0,2281 0,9164 27,4807 0,1564 FBT Ben Tre Forestry And Aquaproduct Import Export Food Producers 0,0299 0,5087 0,8497 27,4313 0,2263 36 FMC Sao Ta Foods JSC 0,0016 0,5395 0,8131 27,6482 0,1858 37 FPT FPT Corp 1,7439 30,4301 0,1134 n 2,5804 27,1831 0,5386 1,1675 0,7310 7,5031 0,5411 1,1791 23,1101 1,6830 8,3578 0,5168 1,3009 0,0008 si 0,7724 ac th 5,3329 13,5105 y te Food Producers Software & Computer Services va 4,6601 20,3363 re an Lu Chemicals Household Goods Automobiles & Parts vb Construction & Materials Household Goods Chemicals 11,0404 0,5160 eg cd jg Page 52 hg (Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage o w n lo ad (Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage u yj th Capital Structure and Firm Performance yi pl ua al No Ticker Company name PROF (%) Sector n Binh Thanh Im-export, production & trade JSC GIL 39 GMC Garmex Saigon JSC Personal Goods 40 GMD General Forwarding & Agency Corporation 41 HAP Hapaco Hai Phong Paper JSC 42 HAX Hangxanh Motors Service JSC 43 HBC Hoa Binh Construction& Real Easte Corp Construction & Materials 44 HBD Binh Duong PP Pack Marking JSC General Industrials 45 HDC Ba Ria – Vung Tau House Development JSC Real Estate n va 38 Personal Goods fu ll Industrial Transportation oi m Forest & Paper General Retailers TOBIN'S Q PE TDTA TDTE LTDTA STDTA GROWTH SIZE (Sales) TA 11,9409 1,2244 4,6905 0,1605 0,1912 0,0035 0,1570 0,5454 26,8489 0,0556 15,9135 0,9625 3,8699 0,3938 0,6497 0,0023 0,3915 0,7501 26,7746 0,3012 z at nh 0,8532 0,9829 (8,5338) 0,4191 0,7294 0,2247 0,1944 0,8276 28,2797 0,3701 (3,8609) 0,9737 (3,2230) 0,3547 0,5797 0,1120 0,2427 0,7174 26,4947 0,3313 13,6694 0,9002 4,1692 0,4114 0,6990 0,0034 0,4080 0,7230 27,0597 0,1679 3,4664 0,7040 30,9616 0,4927 1,0702 0,0948 0,3978 0,7502 27,2686 0,1108 z 1,2545 4,4369 0,3303 0,4933 0,0000 0,3303 0,9152 24,7730 0,2153 9,3617 0,5236 5,0517 0,7795 3,5342 0,1905 0,5890 1,0825 26,4304 0,0324 vb 24,8223 HLA Asia Huu Lien Industrial Metals 8,5718 0,4991 (12,0312) 0,7423 3,0604 0,0316 0,7107 1,0064 28,2425 0,1131 47 HMC Hochiminh City Metal Corporation General Retailers 11,4129 0,6630 5,8401 0,6466 1,8294 0,0008 0,6457 0,9561 29,0866 0,0485 1,9049 ht 46 jm HPG Hoa Phat Group JSC Industrial Metals 22,4451 49 HRC HoaBinh Rubber JSC Chemicals 24,9673 50 HSI General Materials Biochemistry Fertilizer JSC Chemicals 51 HT1 Ha Tien Cement JSC Construction & Materials 52 ICF Investment Commerce Fisheries Corporation Food Producers 53 IFS Interfood Shareholding Co Food Producers (14,572) 54 IMP Imexpharm Pharmaceutical JSC Pharmaceuticals & Biotechnology 55 ITA Tan Tao Investment Industry Corp Real Estate 0,2295 0,3148 0,0067 0,2228 1,3678 29,7713 0,1556 4,7847 0,1693 0,2038 0,0093 0,1600 1,2558 26,3932 0,1333 0,2787 5,8858 0,8559 5,9393 0,0006 0,8553 0,9905 27,1753 0,0701 2,7380 0,4498 20,1700 0,8273 4,7902 0,5308 0,2965 1,1044 28,5700 0,0626 7,5911 0,6349 6,6443 0,5900 1,4390 0,0284 0,5616 0,8149 26,8526 0,1591 0,3235 (1,0172) 0,8419 6,2416 0,0243 0,8176 1,0462 27,5444 0,3498 13,8812 2,3311 15,0086 0,1351 6,6436 1,3392 220,83 0,2391 l.c gm 10,6282 k 7,2413 1,9171 om 48 an Lu 0,0032 0,1319 1,6014 27,0672 0,0757 0,0634 0,1757 0,8166 27,9376 0,0082 0,4027 0,0577 0,2225 0,8804 28,0137 0,1169 0,5480 0,3417 0,7877 26,1568 0,0356 0,1706 0,9341 27,4598 0,6142 0,0392 0,6384 0,9755 26,5158 0,0706 0,0016 0,5834 0,8440 27,0639 0,0852 KDC Kinh Do JSC Food Producers 2,1341 1,3033 (20,1506) 0,2802 57 KHA Khahomex Khanh Hoi Import Export JSC General Retailers 15,6238 1,0797 3,9139 0,3540 0,0123 58 KHP Khanh Hoa Power JSC Electricity 35,7012 0,5239 4,0884 0,7051 2,3911 0,5346 59 L10 LILAMA 10 JSC Industrial Engineering 13,2668 0,6205 4,7751 0,6775 2,1009 60 LAF Lafooco Long An Food Processing Export JSC Food Producers 9,3893 0,6741 14,0570 0,5850 1,4095 n 56 re va 0,1562 0,3138 y te ac th si eg cd jg Page 53 hg (Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage o w n lo ad (Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage u yj th Capital Structure and Firm Performance yi pl ua al No Ticker Company name PROF (%) Sector n Construction & Materials LBM LamDong Buiding Materials JSC 62 LCG LICOGI 16 63 LSS Lam Son Sugar JSC 64 MCP My Chau Printing& Packing Holdings Co 65 MPC MINH PHU SEADFOOD CORP Food Producers 66 NKD North Kinhdo Food JSC 67 NSC National Seed JSC n va 61 TOBIN'S Q 27,6272 0,7711 PE TDTA 6,2997 TDTE 0,5565 LTDTA STDTA GROWTH 0,2627 0,2938 0,9360 1,3870 SIZE (Sales) TA 25,6013 0,3098 ll fu 16,7756 0,9580 4,1504 0,5428 1,1872 0,1057 0,4371 1,0436 26,8204 0,0136 Food Producers 17,7897 1,2280 6,6855 0,3183 0,4838 0,0877 0,2306 0,8830 27,7548 0,2524 General Industrials 18,2576 0,9870 4,2786 0,3969 0,6581 0,2240 0,1729 0,7809 26,0611 0,4313 7,5059 0,7865 (19,297) 0,5641 1,3600 0,0945 0,4696 0,9403 28,6969 0,1094 Food Producers 8,9960 0,9096 330,68 0,6282 1,6910 0,0429 0,5853 1,1663 27,2625 0,3226 Food Producers 14,2132 1,3505 4,5769 0,2878 0,4041 0,0031 0,2847 0,9260 26,1324 0,0594 8,3444 0,8328 8,8166 0,7314 2,7234 0,0003 0,7311 1,2956 26,6403 0,0061 0,2551 oi m Construction & Materials z at nh Real Estate PIT Petrolimex International Trading JSC General Retailers 74 PJT Petrolimex Joint Stock Tanker Com Industrial Transportation 75 PMS Petroleum Mechanical JSC Gas, Water & Multiutilities 76 PNC Phuong Nam Cultural JSC Media 77 PPC PhaLai Thermal Power JSC Electricity 78 PVD PetroVietnam Drilling and well services JSC Oil Equipment, Services & Distribution 79 PVT PETROVIETNAM TRANSPORTATION CORP Industrial Transportation 80 RAL Rangdong Light source and Vacuum flash JSC Household Goods 81 REE Refrigeration Electrical Engineering Corporation Real Estate vb 26,1124 1,4718 27,8476 0,1153 6,0428 0,7984 7,8641 0,6364 1,7504 0,0066 0,6298 1,0712 29,3175 0,0614 3,9007 183,64 0,3162 0,4732 0,1240 0,1922 0,6657 28,1557 0,1823 12,2134 0,8832 8,1074 0,4341 0,7672 0,0000 0,4341 0,7515 28,1658 0,0280 11,6147 0,8843 0,5021 1,0086 0,0014 0,5008 0,8885 27,4087 0,3839 5,5942 1,1625 21,4496 0,4599 0,8515 0,0018 0,4581 1,0823 26,3210 0,0487 4,3622 0,6215 16,3408 0,5822 1,3938 0,0450 0,5372 0,7860 26,3438 0,1209 4,1365 0,8815 (28,5800) 0,6817 2,1421 0,5886 0,0932 1,2450 28,9873 0,4737 12,8764 1,5366 11,2523 0,6960 0,4508 1,9550 28,9471 0,2331 0,4090 2,9192 27,7345 0,4315 0,4846 0,7858 27,4544 0,1974 0,8456 27,7917 0,0076 1,0180 11,5417 0,2452 6,4536 2,5355 173,95 0,7300 5,7308 0,3210 12,4438 0,7178 4,6089 0,5340 1,1457 (4,6172) 1,4530 (10,9638) 0,1951 0,2437 2,8163 0,0493 0,0404 si 73 0,9429 0,3836 ac th Gas, Water & Multiutilities 0,0684 0,0029 y Petrolimex Gas JSC 0,0032 0,6299 te PGC 0,0772 0,3865 re 72 0,0716 7,0603 n PetroVietnam General Services Js Corporation 7,1545 1,6988 va PET 15,7124 an Lu 71 1,7997 22,0431 om Dry Cell and Storage Battery JSC l.c PAC gm 70 Pharmaceuticals & Biotechnology Household Goods General Retailers k OPC Pharmaceutial JSC jm TU LIEM URBAN DEVELOPMENT OPC ht NTL 69 z 68 0,1547 eg cd jg Page 54 hg (Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage o w n lo ad (Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage u yj th Capital Structure and Firm Performance yi pl ua al Company name PROF (%) Sector TOBIN'S Q PE TDTA TDTE LTDTA STDTA GROWTH SIZE (Sales) TA Ticker 82 SAF SAFOCO Foodstuff JSC 83 SAM Sacom Cables & Telecom Materials JSC 84 SAV Im-Export & Economic Co-Operation JSC 85 SC5 Construction Join Stock Company No.5 86 SCD Chuong Duong Beverages Co Beverages 87 SDN Dongnai Paint Corporation Construction & Materials 88 SFC Saigon Fuel JSC Gas, Water & Multiutilities 89 SFN Saigon Fishing Net JSC General Industrials 27,7094 90 SGC Sagiang Import Export Corporation Food Producers 21,5815 91 SGH Saigon Hotel Corporation Travel & Leisure 38,1243 5,3814 92 SGT Saigon Telecommunication & Technologies Corp Technology Hardware & Equipment 6,2735 1,8921 22,1498 0,4446 0,8045 0,1074 0,3372 1,7817 27,7119 0,0394 93 SJD CanDon Hydro Power JSC Electricity 17,5475 0,7012 12,0656 0,6738 2,0660 0,4519 0,2219 1,0488 26,2058 0,9381 94 SJS Song Da Urban & IZ Investment & Development JSC Real Estate 11,2123 2,0708 18,0555 0,2782 0,3854 0,0819 0,1963 1,6272 26,4731 0,0116 95 SMC SMC Investment- Trading JSC General Retailers 16,4834 0,6464 3,1271 0,6523 1,8899 0,0383 0,6140 0,9545 29,0697 0,0626 96 SSC Southern Seed JSC Food Producers 22,5885 1,8717 5,8766 0,1790 0,2181 0,0279 0,1511 1,2298 26,0813 0,1250 97 ST8 Sieu Thanh Joint Stock Corp General Retailers 29,8995 1,3772 3,8407 0,3246 0,5595 0,0004 0,3242 1,0857 27,4379 0,0841 98 TAC Tuong An Oil JSC Food Producers 22,9291 1,1022 37,8383 0,5498 1,2213 0,1142 0,4356 1,2019 28,7273 0,1969 2,6904 0,2308 0,4804 0,8965 27,6582 0,2935 0,4113 0,1471 0,1402 0,7808 27,1339 0,0407 0,5814 1,0327 27,9234 0,0934 0,0287 0,1070 1,2523 25,8875 0,4032 0,0141 0,5099 0,7862 27,2859 0,0100 0,1657 0,7602 25,9261 0,3390 n No n va ll fu 21,7201 1,4487 4,2592 0,3216 0,4742 0,0052 0,3164 1,0920 26,7423 0,2826 Electronic & Electrical Equipment (1,8504) 1,3679 (11,9774) 0,0309 0,0319 0,0002 0,0308 0,4298 27,8906 0,0497 6,5588 0,7508 9,9433 0,4953 0,9801 0,0215 0,4738 0,7406 27,0561 0,1048 Household Goods Construction & Materials oi m Food Producers z at nh 0,3365 6,2375 0,8410 5,3746 0,2138 0,6272 1,0227 27,4479 0,0407 1,5340 5,3097 0,2592 0,3499 0,0023 0,2569 1,0525 26,3380 0,0503 17,4671 1,1719 6,7847 0,5132 1,0541 0,0646 0,4486 1,1982 24,8385 0,0996 1,8263 9,6787 0,3717 0,5916 0,0013 0,3704 1,5696 27,8171 0,1672 1,5063 3,5293 0,0924 0,1019 0,0644 0,0281 0,6912 25,5451 0,2881 1,6191 4,0097 0,0857 0,0938 0,0091 0,0766 0,7906 25,4186 0,2180 17,6978 0,0840 0,0918 0,0063 0,0778 4,5495 24,1191 0,4721 z 4,1233 21,8353 vb 20,7005 ht k jm om l.c gm an Lu n va 7,5007 0,4359 72,5796 0,7112 Real Estate 20,0574 1,1948 3,4627 0,2873 101 TMC Thu Duc Trading and Import Export JSC General Retailers 16,7974 0,8659 4,2096 0,5834 1,4005 102 TMS Trans-Forwarding & Warehousing Corp Industrial Transportation 23,2176 1,9808 9,2287 0,1357 0,1571 103 TNA Thien Nam Trading Im-Export Corp General Retailers 19,8729 0,7383 3,7201 0,5240 1,1008 104 TNC Thong Nhat Rubber JSC Chemicals 6,0029 1,4265 18,8083 0,1669 0,2003 y te 0,0020 0,0012 eg cd Personal Goods Thu Duc House JSC si THANH CONG TEXTILE GARMENT TDH ac th TCM re 99 100 jg Page 55 hg (Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage o w n lo ad (Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage u yj th Capital Structure and Firm Performance yi pl ua al No Ticker Company name PROF (%) Sector n TPC TAN DAI HUNG PLASTIC JSC 106 TRA TRAPHACO 107 TRC Tay Ninh Rubber JSC n va 105 General Industrials Truong Thanh Furniture Corporation 111 TTP Tan Tien Plastic Packaging JSC 0,2015 LTDTA STDTA GROWTH 0,0076 0,1939 0,6533 0,2523 SIZE (Sales) TA 26,8437 0,1710 19,3840 1,4906 6,0430 0,2836 0,3960 0,0102 0,2735 1,0579 27,3894 0,0980 1,8670 3,6777 0,2364 0,3096 0,0441 0,1924 1,3399 27,0316 0,3881 General Retailers 20,0334 0,5075 4,0012 0,8004 4,0247 0,0001 0,8003 1,1094 28,6370 0,0347 15,5834 0,6142 5,9526 0,6290 1,6953 0,0278 0,6012 0,8721 26,3739 0,3687 7,1791 0,5046 10,1157 0,6053 1,5818 0,0134 0,5919 0,7332 27,2646 0,0529 22,7404 1,3928 3,8216 0,1368 0,1584 0,0004 0,1364 0,6663 27,6813 0,2130 0,7481 (2,7374) 0,6994 2,3271 0,0315 0,6680 1,1470 27,8018 0,3472 0,4518 4,5304 0,7233 2,6144 0,0428 0,6806 0,8985 27,2473 0,1200 0,1583 Construction & Materials Household Goods General Industrials z TTF (2,4111) TDTE 32,8792 z at 110 1,2504 TDTA Chemicals nh Thanh Thanh JSC (14,9823) PE Pharmaceuticals & Biotechnology oi Techno – Agricultural Supplying JSC TTC m TSC 109 ll fu 108 TOBIN'S Q Taya Electric Wire and Cable JSC 113 UIC Idico Urban and House Development JSC Construction & Materials 114 VFC VINAFCO JSC Industrial Transportation 6,8069 1,2327 12,0704 0,1921 0,2378 0,0431 0,1490 0,6169 26,8277 115 VGP The Vegetexco Port JSC Industrial Transportation 18,2242 1,6786 5,9480 0,1425 0,0005 0,1242 0,9281 25,6844 0,0890 116 VHC Vinh Hoan Corp Food Producers 13,2318 0,8071 om 0,1247 7,1212 0,6583 2,0411 0,1753 0,4830 1,1466 28,5240 0,3713 117 VHG Viet-Han Corporation Electronic & Electrical Equipment 2,2556 1,2358 (9,3290) 0,0979 0,1085 0,0000 0,0979 0,4316 26,3901 0,2439 118 VIC VINCOM JSC Real Estate 7,3046 1,8716 76,4775 0,7306 2,9368 0,5475 0,1830 2,3353 26,2005 0,0045 119 VID Viendong Paper JSC Forest & Paper 10,8140 0,9381 7,9055 0,4593 0,8493 0,1023 0,3570 0,8566 27,0431 0,0755 120 VIP Vietnam Petroleum Transport JSC Industrial Transportation 13,9978 0,9547 7,9084 0,4547 re 0,4060 0,0488 0,8642 27,8543 0,5927 121 VIS Vietnam - Italy Steel JSC Industrial Metals 22,9475 0,6745 2,7437 0,6493 2,4634 0,3145 0,3347 1,0886 28,1713 0,1453 122 VKP VIKY PLASTIC Co General Industrials 3,9356 0,6946 61,6734 0,4813 0,9279 0,1033 0,3780 0,6572 26,6951 0,1175 123 VNA VINASHIP Industrial Transportation 23,3389 0,8576 3,6373 0,5677 1,3131 0,2665 0,3012 0,9930 27,5251 0,7092 ht TYA gm vb 112 Electronic & Electrical Equipment 7,8150 k jm (12,6401) l.c an Lu n va 0,8340 y te ac th si eg cd jg Page 56 hg (Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage o w n lo ad (Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage u yj th Capital Structure and Firm Performance yi pl ua al No Ticker Company name PROF (%) Sector n TOBIN'S Q PE TDTA TDTE LTDTA STDTA GROWTH SIZE (Sales) TA -436,78 0,8111 5,1927 0,4784 0,3327 0,9637 26,6348 0,2554 3,2638 11,6371 0,1935 0,2424 0,0305 0,1630 2,6400 29,7569 0,2563 Travel & Leisure 17,5754 0,8804 5,2951 0,4326 0,7624 0,3609 0,0717 0,7456 27,4425 0,5594 General Industrials 10,5396 0,8048 16,2386 0,5351 1,1509 0,1686 0,3664 0,8749 25,9722 0,5086 8,4797 2,5180 158,32 0,6235 1,8478 0,4850 0,1385 2,7446 26,8787 0,3796 Vietnam Dairy Products JSC 126 VNS Vietnam Sun Corp 127 VPK Vegetable Oil Packing JSC 128 VPL Vinpearl Tourism and Trading JSC 129 VSC Vietnam container shipping JSC Industrial Transportation 32,0148 1,6522 4,1728 0,3411 0,5176 0,0411 0,2999 1,3344 26,4687 0,3301 130 VSG Viconship Saigon Industrial Transportation 11,9570 0,4678 18,8290 0,7199 2,5707 0,5918 0,1281 0,9077 25,6252 0,8663 131 VSH Vinh Son Song Hinh Hydro Power JSC Electricity 21,4101 2,4131 10,3785 0,1373 0,1591 0,0906 0,0466 1,6876 26,9047 0,5726 132 VTA VITALY JSC Construction & Materials 8,3646 0,3667 (8,2729) 0,7686 3,3214 0,2335 0,5351 0,9039 25,8395 0,4901 133 VTB Viettronics Tanbinh JSC Leisure Goods 11,2223 1,3742 6,5496 0,2360 0,3089 0,0289 0,2071 0,8462 26,1128 0,0136 134 VTC VTC Telecommunications JSC Technology Hardware & Equipment 10,2042 0,8695 11,3716 0,4057 0,8342 0,0741 0,3316 0,8030 25,2535 0,1849 135 VTO Viet Nam Tanker JSC Industrial Transportation 8,2139 0,4345 19,5395 0,7716 3,3782 0,6930 0,0786 0,9777 27,3475 0,9356 136 BTC Binh Trieu Construction & Engineering JSC Construction & Materials 8,0921 0,5753 0,8339 5,0189 0,0116 0,8223 1,2430 24,8868 0,0107 137 CII HCMC Infrastructure Investment JSC - CII Construction & Materials 12,9519 0,9651 8,1338 0,5705 1,4645 0,4559 0,1146 1,1474 26,1572 0,0011 138 CNT Construction and Materials Trading JSC Construction & Materials 8,8398 0,2131 4,0345 0,8377 6,1404 0,1692 0,6686 0,9347 28,6162 0,0306 139 DXP DoanXa Port JSC Industrial Transportation 40,2218 1,6094 3,8183 0,3243 0,1311 0,1932 1,2580 25,3102 0,6676 140 FPC Full Power JSC Electronic & Electrical Equipment (4,4671) 1,1734 (8,1362) 0,3397 0,5106 0,0003 0,3394 0,8487 26,8785 0,0682 141 GTA Thuan An Wood Processing JSC 9,9116 1,3474 13,6726 0,1917 0,2371 0,0001 0,1915 142 HAS Hanoi P&T Construction & Installation JSC 6,8682 0,8343 4,9967 0,4047 0,6798 n va Vietnam Electricity Construction JSC VNM re 0,2854 25,6423 VNE 125 om 5,1092 Food Producers 124 gm Construction & Materials ll fu oi m Travel & Leisure z at nh z ht vb k jm l.c an Lu n va 0,4799 y te ac th 0,4013 0,7308 25,8206 0,4254 0,6437 25,4520 0,0253 eg cd 0,0034 si Household Goods Construction & Materials 5,3805 jg Page 57 hg (Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance case.study listed.companies.in.hochiminh.stock.exchage(Luận.văn).capital.structure.and.firm.performance 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