Abstract

The Covid-19 pandemic creates difficulties for companies’ operating and investing activities, especially capital difficulties. Accordingly, our research objective is to analyze the moderating role of the Covid-19 pandemic on the impact of financial leverage on firm growth. We used the quantitative research method with a sample of 471 listed companies in Vietnam in the period 2015-2021, and the PCSE model is the last choice. It showed that firm growth is positively influenced by financial leverage and negatively by the Covid-19 pandemic. In addition, the impact of financial leverage on company growth has become even stronger in the context of the Covid-19 pandemic. This estimation result not only contributes to confirming the necessity of using financial leverage, but also encourages the important supporting role of commercial banks to maintain and increase growth opportunities for companies during difficult times due to the impact of the epidemic

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