Financial Constraints and Firm Productivity in Vietnamese Manufacturing Industries

IF 1.3 Q3 ECONOMICS

International Trade Journal Pub Date : 2023-02-09 DOI:10.1080/08853908.2023.2170931

X. Nguyen

引用次数: 0

Abstract

ABSTRACT Financial constraint is detrimental to firm productivity but has been less explored in the literature. In this empirical study, I fill this gap by using a rich Vietnamese firm-level dataset for manufacturing firms over the period of 2010 to 2015 to estimate a total factor productivity (TFP) model augmented with financial factors. The estimation results indicate that sufficient internal financing and the development of the financial sector boost firm productivity, whereas the leverage ratio has a negative impact on firm productivity. I also provide the heterogeneous impact of financial development on firm productivity across different firm sizes as well as different trade modes.

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越南制造业的金融约束与企业生产率

财务约束不利于企业生产力，但在文献中研究较少。在本实证研究中，我通过使用2010年至2015年期间丰富的越南制造业企业层面数据集来填补这一空白，以估计金融因素增强的全要素生产率(TFP)模型。估计结果表明，内部融资充足和金融业发展对企业生产率有促进作用，而杠杆率对企业生产率有负向影响。我还提供了金融发展对不同企业规模和不同贸易模式下企业生产率的异质影响。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

International Trade Journal Economics, Econometrics and Finance-Economics, Econometrics and Finance (all)

CiteScore

1.90

自引率

0.00%

发文量

期刊介绍： The International Trade Journal is a refereed interdisciplinary journal published for the enhancement of research in international trade. Its editorial objective is to provide a forum for the scholarly exchange of research findings in,and significant empirical, conceptual, or theoretical contributions to the field. The International Trade Journal welcomes contributions from researchers in academia as well as practitioners of international trade broadly defined.