Tác động của quyết định tài chính tới rủi ro tài chính của các doanh nghiệp niêm yết trên thị trường chứng khoán Việt Nam

013456789

6
6
 !"
########$$% &&########





'()*+',



-./0')12
3/412/0-!40
56,7',)
84-*507


9:-;<
112="1




1.=>?>?


013456789


6
6
 !"
########$$% &&########






'()*+',



-./0')12
3/412/0-!40
56,7',)
84-*507


9:-;<
=>?@ABC?DE>BFGEBHCIJBCKLMNO;O;O'(*P07
     QO;O'(P5
1.RQSQS


1

234678 9

7

1111!"!#$
1
%&'()!*%*+ )!!1,-..*"
11/&
!1
.,0!"!#$
12345673892:333333333;<=8933333338>?3@A@A3
BCDEFG
EHIJKBLMNOPLHIQK


11

234634
678492
9


234634


9
2344448


9
234



9
234



6782



4!"
 #4"$6%&'()8(*84+
 *44,&

-
*84+
4)99

8./

0

4123456789:6;<=<>6?@7AB7?@C@D89:6EFB76?@7AB7

0
GHGHGHIJKLMNOPQRSOTUVW1VXOY1ZP[\PZW]^X]\P\_P1`aHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHGb
GHGHcHIJKLMNOPQRSOTUdQRSOef\POY1ZP[\PHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHgG
GHGHgHIJKLMNOPQRSOTUZP1aP[eh1^1`\HHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHig
GHGHiHIJKLMNOPQRSOTUOjZek\_ZW]dQRSOef\POY1ZP[\POl1VW1VXOY1ZP[\PHHHHim
n24!"


o0
4!"
p#


o
p

qBrD8sBBr7tB@u8;6C@EvBr@=sD89:6EFB76?@7AB76w<=<>
6?@7AB7

o
cHGHGHx_P1y\ZzQTUOjZek\_ZW]dQRSOef\POY1ZP[\POl1VW1VXOY1ZP[\PZW]

^X]\P\_P1`aHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHmG
cHGHcHx_P1y\ZzQTU{|1dQ]\P`O}J\_OjZZW]ZP1aP[eh1^1`\OVX\_O}J\_dQ]\
_1~]dQRSOef\POY1ZP[\PTY€IZW]xHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH‚b
cHGHgHƒPX„\_OV|\_\_P1y\ZzQHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH‚c
p
p
/7…1Br†7C†Br7tB@u8

‡o
cHcHGHˆ‰PŠ\P\_P1y\ZzQTY_1„OPQRSO\_P1y\ZzQHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH‚m
cHcHcHIjZ‹1S\K|TYZPŒO1yQeXM}\_HHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH‚‚

cHcHgH~M1`Q\_P1y\ZzQTY\_QŽ\^~M1`Q\_P1y\ZzQHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHg
cHcHiHP}J\_aPjaaP‘\O[ZP^~M1`QHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHi
n24!"
p

’’


111
234567 9
3
2
67 63 2363 

 
23632226367332363 6! 
63

4"6723#67$366!%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%&'(
9%)%*+,-./01,2,3450*01*6788*6-96,*:0*06;<=>--.;02$6%%%%%%%%%%&'
9%?%*+,-./01,2,@A=>-BC0*-96,*:0*,D5,2,3450*01*6788*6-96,*:0*
06;<=>--.;0-*C-.EF01,*G01H*42067-65<%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%&I
JKLKMKNOPQRSTUVVOPSWUXYZUKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKK[\
JKLKLKNOPQRSTUVS]OR^KKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKK_J
JKLKJKNOPQRSTUV`VaU`VZ1RVOUVb`KKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKK_c
9%9%*+,-./01.D6.4-96,*:0*,D5,2,3450*01*6788*6-96,*:0*06;<=>-.;0-*C-.EF01,*G01H*42067-65<%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%'d
JKJKMKef1ghYZUij`V]UKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKK_k
JKJKLKef1ghYlUmKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKK\L

JKJKJKnVoiRgpUXqOrURgTgf1ghRp1st U1uvPQRKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKK\k
w!x2345679%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%II(
234567 y
$z! 63 !{ 3|63  3} ~6 $ }
67362#%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%)€€(
y%)%$6„KMKMK…1†vSTUVR‡iSWUXifˆi‡iqOPQRSTUVR‰1iVŠUVR‹1eeŒŽifˆst`V1R‰1
iVŠUVU1uvPQRRguUnn…Œ1RtˆvKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKM
„KMKLK…1†vSTUVR‡iSWUXifˆi‡iqOPQRSTUVR‰1iVŠUVR‹1eeŒtifˆst`V1R‰1
iVŠUVU1uvPQRRguUnn…Œ1RtˆvKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKMMJ
„KMKJK…1†vSTUVYˆ1Rg‘R^’UXR‡iifˆiV1`VŠSp1“1URghUX”oR‡iSWUXifˆ
i‡iqOPQRSTUVR‰1iVŠUVR‹1eenifˆst`V1R‰1iVŠUVU1uvPQRRguUnn…
Œ1RtˆvKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKMLc
y%?%*•4–A—0H>-@A•01*6;0,GA%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%)9€
„KLKMKŒ˜R‡iSWUXifˆi‡iqOPQRSTUVR‰1iVŠUVR‹1eeŒŽifˆstU1uvPQRRguU
nn…Œ1RtˆvKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKMJ
„KLKLKŒ˜R‡iSWUXifˆi‡iqOPQRSTUVR‰1iVŠUVR‹1eeŒtifˆstU1uvPQRRguU
nn…Œ1RtˆvKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKMJ„
„KLKJK…QRqOrY˜Yˆ1Rg‘R^’UXR‡iifˆiV1`VŠSp1“1URghUXvZ1qOˆUVX1™ˆ
qOPQRSTUVR‰1iVŠUVY‰eenKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKMJk
w!x234567y%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%)9'(