This research aims to examine the relationship between liabilities and fim performance of the Vietnamese listed small and medium-sized enterprises (SMEs). We explore a panel data set of 61 listed SMEs in Vietnam from 2011 to 2014 and apply random-effcts models to test whether the fiancing policy affcts fim performance. It is found that leverage policy has a signifiantly positive impact on Tobin’s q and a negative impact on ROE of the listed SMEs. Moreover, nonfiancial variables including joint stock fim age and business areas of SMEs signifiantly inflence their performances.
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This research aims to examine the relationship between liabilities and fim performance of the Vietnamese listed small and medium-sized enterprises (SMEs). We explore a panel data set of 61 listed SMEs in Vietnam from 2011 to 2014 and apply random-effcts models to test whether the fiancing policy affcts fim performance. It is found that leverage policy has a signifiantly positive impact on Tobin’s q and a negative impact on ROE of the listed SMEs. Moreover, nonfiancial variables including joint stock fim age and business areas of SMEs signifiantly inflence their performances.