Abstract
The main objective of this study is to measure the effect of capital structure on firm performance of listed agricultural companies on Vietnam Stock Exchange (VNX). Data used in the study are panel data that were mainly collected from audited financial statements of 71 companies listed on VNX during the period from 2016 to 2021. Empirical results derived from FGLS (feasible generalized least squares) reveal that three capital structure ratios, namely leverage, long-term debts and short-term debts, and tangibility ratio have negative relationships with firm performance which is measured by ROA, ROE. In addition, this study finds a positive relation between firm size and firm performance. Finally, based on the empirical evidences derived from this study, it is concluded that Covid-19 pandemic causes negative impact to the performance of that companies.
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