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New contributions of the thesis: Firstly, systematized and clarified the basic theories of financial structure and financial restructuring

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SUMMARISE OF NEW CONTRIBUTIONS OF THE THESIS 1. Thesis Topic: “Financial Restructuring in Vietnam Steel Companies”

2. Major: Finance and Banking. Code: 62.34.02.01;

3. PhD Candidate: Dang Phuong Mai 4. Supervisors:

1. Assoc. Prof. Dr. Bui Van Van 2. Dr. Tran Tien Cuong

5. New contributions of the thesis:

Firstly, systematized and clarified the basic theories of financial structure and

financial restructuring. Identified the factors affecting the financial structure and how the financial structure of a company can affect its profitability and company’s value. The thesis refers to the relationship among financial restructuring, portfolio restructuring and operational restructuring within a corporation under the financial crisis.

Secondly, accesses the situation of financial structure, evaluates some limitations

in the financial structure of Vietnam steel corporations. Specifically, high debt ratio leading to low profitabilty; low stablisation in the financial structure due to using short-term debt, account for large part in total borrowings; unvaried sources of debt; unstable and risky financial structure in the small companies;

different sources of funds leading to the difference between the financial structure of State-owned firms and Non-state-owned firms. The causes of those shortages are detailed in order to propose solutions for financial restructuring in companies.

Thirdly, panel data regression has been used to find out factors affecting financial structure and how financial structure can affect the profitablility and firm's value in Vietnam steel companies.

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Forthly, propose solutions for the financial restructuring. Particularly, solutions

for financial restructuring in Vietnam Steel Corporation are specified.

Fifthly, the roles of the government and concerning parties are referred to support for the success of the financial restructuring in Vietnam steel companies.

Hanoi, Februari 25th, 2016

SUPERVISORS PHD CANDIDATE

The 1st Supervisor

Assoc Prof. Dr. Bui Van Van

The 2nd Supervisor

Dr. Tran Tien Cuong Dang Phuong Mai

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