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 EXAMINING THE FINANCIAL DISTRESS SITUATION OF VIETNAMESE LISTED FIRMS USING CASH FLOW STATEMENTS
Tác giả hoặc Nhóm tác giả: Pham Quang Tin; Tran Thi Nga
Nơi đăng: South East Asia Journal of Contemporary Business, Economics and Law, ISSN 2289-1560; Số: Vol. 12;Từ->đến trang: 16-31;Năm: 2017
Lĩnh vực: Kinh tế; Loại: Bài báo khoa học; Thể loại: Quốc tế
TÓM TẮT
Financial difficulty and bankruptcy are dominant subjects in corporation finance currently.
companies avoid disastrous consequences of bankruptcy, for which purpose tools like cash flow statement or ratio analysis have been used. To examine the level of financial distress of Vietnamese listed firms from cash flow statement (CFS), the paper uses four different linear regression models to evaluate the effect of cash flow statement patterns and the effect of each cash flow to the firms’ financial health. The study shows that there are negative relationships between three components of cash flow statements and financial distress score of Vietnamese listed firms. Adversely, company size is detected to be positively related to the financial trouble score. Meanwhile, cash flow statement patterns of examined Vietnamese listed firms are statistically
insignificant, as a result, they do not support for detecting financial weakness.
ABSTRACT
Financial difficulty and bankruptcy are dominant subjects in corporation finance currently.
companies avoid disastrous consequences of bankruptcy, for which purpose tools like cash flow statement or ratio analysis have been used. To examine the level of financial distress of Vietnamese listed firms from cash flow statement (CFS), the paper uses four different linear regression models to evaluate the effect of cash flow statement patterns and the effect of each cash flow to the firms’ financial health. The study shows that there are negative relationships between three components of cash flow statements and financial distress score of Vietnamese listed firms. Adversely, company size is detected to be positively related to the financial trouble score. Meanwhile, cash flow statement patterns of examined Vietnamese listed firms are statistically
insignificant, as a result, they do not support for detecting financial weakness.
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