Impact of financial leverage on the operating performance of listed real estate firms in Vietnam


Authors

  • Ngo Thi Hang Banking Academy of Vietnam
  • Ha Thi Huyen Banking Academy of Vietnam
DOI: https://doi.org/10.57110/vnu-jeb.v5i5.398

Keywords:

Financial leverage, operating performance, listed firm, real estate

Abstract

The study assesses the impact of financial leverage on the operating performance of Vietnam’s listed real estate firms. By deploying panel data regression (POLS, Fixed Effects, Random Effects, FGLS) and quantile regression on 530 observations from 53 Vietnamese listed real estate enterprises from 2013 to 2022, the study reveals an inverse impact of financial leverage on the firm performance. This suggests that Vietnamese listed real estates firms, should optimize their capital structure by reducing debt levels. Besides, the research also finds reliable empirical evidence on the positive contribution of short-term payment solvency and asset performance coupled with firm size to the operating performance of Vietnamese listed real estate businesses.

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Published

25-10-2025

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How to Cite

Ngo Thi Hang, & Ha Thi Huyen. (2025). Impact of financial leverage on the operating performance of listed real estate firms in Vietnam . VNU JOURNAL OF ECONOMICS AND BUSINESS, 5(5), 15. https://doi.org/10.57110/vnu-jeb.v5i5.398

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