This paper investigates effects of financial crisis on capital structure of listed firms in Vietnam. Regression models on the relation between the leverage and firm size, growth, profitability, tangibility, together with crisis dummies is built based on a sample of 265 firms listed on HNX and HOSE for the period of 2006-2013. The empirical result indicates that firm size, profitability, and tangibility have statistically significant impacts on capital structure. The growth is not statistically significant in explaining the variance of the leverage. The study result also reveals that capital structure of Vietnamese listed firms has not changed significantly under the financial crisis.

This paper approaches the corporate governance mechanism to study the impact of corporate governance factors on capital risk, credit risk, and liquidity risk in Vietnamese commercial banks. This approach divides corporate governance into internal mechanism and external mechanism. The empirical study investigates 26 joint-stock commercial banks in the period of 2009-2013. The empirical study indicates that board strengths, foreign capital, information disclosure, and stakeholder roles have significant impacts on financial risk management in the banking systems. The study result provides key indicators for policy makers to build corporate governance mechanism for the financial risk management in Vietnam banking system.

This paper investigates the impact of firm size, profitability, cash flows, investment opportunities, leverage and capital expenditure on cash holding level and cash conversion cycle for 54 listed real estate companies in Vietnam stock exchange during 2010-2014. The empirical result highlights two most important variables that affect the cash holdings-profitability and capital expenditure that have strong influence on the corporate liquidity of these real estate companies. The study also indicates that policies on cash holdings and working capital investment have been affected under financially constrained conditions. The study result provides speculative motive of cash holdings as well as the emphasis of financial constraints on the adjustment of working capital investment in the real estate industry.

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