دورية أكاديمية
Uncertainty in banking and debt financing of firms in Vietnam.
| العنوان: | Uncertainty in banking and debt financing of firms in Vietnam. |
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| المؤلفون: | Huynh J; Faculty of Finance and Banking, Ho Chi Minh City Open University, Ho Chi Minh City, Vietnam., Phan TMH; Faculty of Finance and Banking, Ho Chi Minh City Open University, Ho Chi Minh City, Vietnam. |
| المصدر: | PloS one [PLoS One] 2024 Jul 15; Vol. 19 (7), pp. e0305724. Date of Electronic Publication: 2024 Jul 15 (Print Publication: 2024). |
| نوع المنشور: | Journal Article |
| اللغة: | English |
| بيانات الدورية: | Publisher: Public Library of Science Country of Publication: United States NLM ID: 101285081 Publication Model: eCollection Cited Medium: Internet ISSN: 1932-6203 (Electronic) Linking ISSN: 19326203 NLM ISO Abbreviation: PLoS One Subsets: MEDLINE |
| أسماء مطبوعة: | Original Publication: San Francisco, CA : Public Library of Science |
| مواضيع طبية MeSH: | COVID-19*/economics , COVID-19*/epidemiology, Vietnam ; Uncertainty ; Humans ; Investments/economics ; Commerce/economics ; Banking, Personal/economics ; SARS-CoV-2 ; Financial Management ; Pandemics/economics |
| مستخلص: | This study explores the effects of banking uncertainty on firms' debt financing. Employing data from 2007 to 2022 of Vietnam-a bank-based economy, we document that banking uncertainty negatively impacts corporate debt. The impact firmly holds across various debt maturities and sources, with the most predominant driver witnessed in bank debt. We also investigate the potential underlying mechanism linking banking uncertainty to debt financing, thereby validating the working of three crucial channels, including increased costs of debt, substitution of trade credit, and contractions in firm investment. Furthermore, conducting extended analysis, we find that debt financing exhibits more pronounced reactions to banking uncertainty for firms with closer ties to banks or during macroeconomic shocks, as captured by the financial crisis and the COVID-19 pandemic. Our findings survive after robustness checks by alternative measurement, static and dynamic econometric models, and endogeneity controls. Competing Interests: The authors have declared that no competing interests exist. (Copyright: © 2024 Huynh, Phan. This is an open access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.) |
| تواريخ الأحداث: | Date Created: 20240715 Date Completed: 20240715 Latest Revision: 20240717 |
| رمز التحديث: | 20240717 |
| مُعرف محوري في PubMed: | PMC11249237 |
| DOI: | 10.1371/journal.pone.0305724 |
| PMID: | 39008440 |
| قاعدة البيانات: | MEDLINE |
Full Text Finder | تدمد: | 1932-6203 |
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| DOI: | 10.1371/journal.pone.0305724 |