THE INFLUENCING OF THE INVESTMENT RATIO IN CURRENT ASSETS AND THE INVESTMENT RATIO IN FIXED ASSETS ON THE FINANCIAL CAPACITY OF PHARMACEUTICAL FIRMS

Autores

  • Le Quang Trung University of Labour and Social Affairs
  • Le Trung Thanh University of Labour and Social Affairs
  • Do Minh Thanh Thuong Mai University
  • Thai Thi Thu Quynh Hanoi University of Business and Technology

DOI:

https://doi.org/10.18623/rvd.v23.5327

Palavras-chave:

Finance, Accounting, Investment Ratio in Current Assets (TTSLD) and the Investment Ratio in Fixed Assets (TTSCD), The Financial Capacity, Panel Data Analysis

Resumo

This study examines the influence of the investment ratio in current assets and the investment ratio in fixed assets on the financial capacity of pharmaceutical firms listed on the Vietnamese stock market. Using panel data from 22 firms over the period 2021–2024, the study employs descriptive statistics, correlation analysis, Ordinary Least Squares (OLS), and Generalized Least Squares (GLS) regression models to analyze the relationship between asset allocation and financial capacity indicators. Financial capacity is measured through capital growth rate and the possibility of financing through debt. The GLS regression results indicate that the investment ratio in current assets negatively affects capital growth rate, while the investment ratio in fixed assets negatively influences both capital growth and the ability to finance through debt. However, the investment ratio in current assets does not show a statistically significant relationship with debt financing capacity. These findings suggest that excessive investment in both current assets and fixed assets may reduce financial flexibility and weaken firms’ financial capacity. The study provides practical implications for financial managers in pharmaceutical firms by highlighting the importance of optimizing asset allocation strategies to improve financial stability and long-term financial performance.

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Publicado

2026-03-24

Como Citar

Trung, L. Q., Thanh, L. T., Thanh, D. M., & Quynh, T. T. T. (2026). THE INFLUENCING OF THE INVESTMENT RATIO IN CURRENT ASSETS AND THE INVESTMENT RATIO IN FIXED ASSETS ON THE FINANCIAL CAPACITY OF PHARMACEUTICAL FIRMS. Veredas Do Direito , 23(5), e235327. https://doi.org/10.18623/rvd.v23.5327

Edição

v. 23 n. 5 (2026): Veredas do Direito, v. 23, n. 5 2026

Seção

Artigos

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