This study investigates factors associated with the capital structure of pharmaceutical companies listed on Vietnam stock exchanges using secondary data from financial statements, annual reports, and management reports published from 2010 to 2019. We focus on firm characteristics (profitability, growth opportunity, tangible assets, liquidity, firm size and firm age) and corporate governance (pluralist executives). We find that profitability, tangible assets, and liquidity have negative correlations with debt ratio. |
