• Nhan Thi Duong Ho Chi Minh City College of Industry and Trade
  • Thanh Cong Nguyen Ho Chi Minh City College of Industry and Trade



capital structure, ownership structure, performance, small and medium enterprises


From data collected from 126 small and medium enterprises in HCM City, the paper was conducted to examine the connection between capital structure, ownership structure and operational efficiency of Ho Chi Minh City's small and medium businesses. The purpose of the article is to study the interdependence between the capital structure and the results of the small business firm of Vietnam. The author analyzes data based on different methods to contribute additional previous studies follow four dimensions: operational efficiency is measured by DEA model, instead of using the financial ratio in order to verify the theory's predictions agency costs; shows that the operating effectiveness is an important factor in choosing the capital structure for some industries; test whether some hypothesis can dominate each other in various segments of the distribution of leverage or not; and provide fresh empirical data on the connection between capital structure, ownership structure, and operational effectiveness. Future studies can look into the connections between company sizes, market measurements for business financial success, and capital structure. Future research may use the decide methodology with the moderator proxy being company size. The study's findings might be improved even more as a result.


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Author Biographies

Nhan Thi Duong, Ho Chi Minh City College of Industry and Trade

Ho Chi Minh City College of Industry and Trade (HITC), Ho Chi Minh City, Vietnam

Thanh Cong Nguyen, Ho Chi Minh City College of Industry and Trade

Ho Chi Minh City College of Industry and Trade (HITC), Ho Chi Minh City, Vietnam


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How to Cite




Chapter 2. Development of Finance, Accounting and Auditing