This study examines the effect of bank competition on corporate investment-financing maturity mismatch, utilizing a panel dataset of 498 listed firms in Vietnam from 2008 to 2024. Bank competition is measured using both structural and non-structural indicators, allowing for a nuanced assessment of market dynamics. The findings reveal a robust positive association between bank competition and maturity mismatch, suggesting that intensified competition leads firms to increase their reliance on short-term debt relative to long-term investment needs. This relationship holds under multiple robustness checks, including alternative variable constructions, fixed effects specifications, crisis period exclusions, and instrumental variable approaches. Mechanism analyses indicate that bank competition affects firms’ debt maturity structures, increasing both the proportion and scale of short-term borrowing. Heterogeneity tests further show that this effect is stronger among firms with higher bank debt dependence, greater financial constraints, and higher borrowing costs, while it is weaker in capital-intensive sectors.
How the maturity structure of corporate debt shapes firms’ capacity to withstand financial pressure remains understudied, particularly in bank-dependent emerging markets. This study examines whether greater reliance on short-term debt weakens firms’ ability to absorb financial shocks. Using quarterly panel data for non...
N. T. Duyen, Le Quoc Diem, Nguyen Thao Hoa· Journal of Risk and Financia...· 0 citations
This study examines the moderating role of liquidity in the relationship between extreme capital structure and firm performance among listed firms in emerging markets. It is motivated by the need to better understand how financing constraints and liquidity management influence firm performance in environments character...
Owen Ncube, G. Marozva· International Journal of Fin...· 0 citations
The findings establish that debt exerts a positive and statistically significant effect on market valuations in both sectors, but through distinct economic channels: moderate leverage amplifies profitable growth signals in IT firms, while tax shield benefits drive valuation in automobile firms, constrained by asset tan...
In emerging economies, especially in the West African Monetary Zone (WAMZ), where banks predominate in financial intermediation despite macroeconomic uncertainty, the financial sustainability of banks remains a major policy concern. This study adds two important new findings to the existing literature by examining the...
F. Anande-Kur, Suresh Ramakrishnan, Khartic Rao Manokaran et al.· Asian Journal of Empirical R...· 0 citations
Background: This study examines the impact of macroeconomic conditions on stock returns in Indonesia’s consumer sector, with the objective of determining whether these effects differ across sectoral classifications and firms’ financial conditions. Although existing research broadly recognizes the linkage between macroe...
Chairani Manasye Riama Sinaga, R. Baskoro· Journal of Economic Resilien...· 0 citations
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