E ISSN: 2583-049X
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International Journal of Advanced Multidisciplinary Research and Studies

Volume 5, Issue 2, 2025

The factors affecting the profitability of listed companies on the Vietnamese stock market



Author(s): Le Thi Thu Huyen

DOI: https://doi.org/10.62225/2583049X.2025.5.2.4030

Abstract:

This study aims to investigate the factors affecting the profitability of companies listed on the Vietnamese stock market. Using panel data from 420 listed firms over the period 2014–2022, the research employs fixed effects regression models with robust standard errors to address issues of autocorrelation and heteroskedasticity. Profitability is measured by return on assets (ROA), while the independent variables include firm size, revenue growth, tangible fixed assets (PPE), and financial leverage (LEV). The empirical results show that revenue growth has a positive impact on profitability, whereas financial leverage and the proportion of tangible fixed assets have negative effects. Firm size, although negatively associated with ROA, is statistically insignificant. The findings highlight the importance of managing capital structure and asset allocation to enhance firm performance. This research provides useful insights for corporate managers, investors, and policymakers in improving the financial efficiency of listed enterprises in Vietnam.


Keywords: Profitability, Listed Companies, Firm Size, Financial Leverage

Pages: 1608-1613

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