The Impact of Competition on Debt Ratio of Manufacturing Enterprises in Vietnam
Bibliographic record
Abstract
Asymmetric infomation has caused difficulties for investors in the financial market when the enterprises have high competitiveness in the market but there are acts of using unusual capital structure. Investment decisions on the stock market of investors will be negatively affected by asymmetric information. In particular, the manufacturing enterprises have made an important contribution to Vietnam’s economic structure. Therefore, the authors conduct research to assess the impact of product market competition on the capital structure of manufacturing enterprises listed in the Vietnam stock market from 2010 to 2018. By analyzing panel data through the Generalized Method of Moments (GMM), the research results indicate: Competitiveness factors HHI has a negative impact on debt ratio (DR)—the results support the predation theory. When businesses are highly competitive, there will be a tendency to reduce the debt ratio. At the same time, the research results also show the variables ROA and CGIR have negative effects on DR. GRTA and NDTS variables do not affect the DR of manufacturing enterprises. The results of this study will help investors to make their decisions more wisely.
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How this classification was reachedexpand
Full frame machine prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. The Gemma side is a direct model label for every work in the frame, read from the title-only record. The Codex side is a classifier learned from the 10,348 direct Codex labels and calibrated to design-weighted sample rates; fields without enough sample support carry no Codex call. Candidate is the union of the two sides; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels.
Distilled classifier scores by category (both heads)
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.000 | 0.001 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.000 | 0.000 |
| Bibliometrics | 0.000 | 0.000 |
| Science and technology studies | 0.000 | 0.000 |
| Scholarly communication | 0.001 | 0.000 |
| Open science | 0.000 | 0.000 |
| Research integrity | 0.000 | 0.000 |
| Insufficient payload (model declined to judge) | 0.002 | 0.000 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one source (direct Gemma or distilled Codex), not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".