TY  - JOUR
T1  - Financial Leasing and the Profitability of Transport Companies: The Moderating Role of Subsectors
A1  - Duy Thanh Nguyen
A1  - Vu Huy Nguyen
A1  - Ha Phuong Anh Nguyen
JF  - Journal of Organizational Behavior Research
JO  - J Organ Behav Res
SN  - 2528-9705
Y1  - 2026
VL  - 11
IS  - 3
DO  - 10.51847/hchEPWCk4l
SP  - 170
EP  - 182
N2  - This study evaluates the impact of financial leasing on the profitability of transport companies globally. Data were collected from 2008 to 2025 and analysed using a fixed-effects (FE) panel data model estimated via the Driscoll-Kraay method. The results demonstrate that financial leasing reduces ROE, as fixed payment obligations and financial costs arising from lease contracts exacerbate the burden of debt servicing. Interaction variables indicate that the magnitude of financial leasing's impact varies compared to the baseline sector. Notably, in the maritime transport sector, a positive and statistically significant interaction coefficient shows that the adverse impact of financial leasing is considerably mitigated and may even shift in a positive direction. This implies that, compared to the baseline sector, companies in this subsector possess a superior capacity to absorb financial leasing, owing to the nature of their long-term assets and more stable cash flows. Several policy implications are suggested, including the need for companies to exercise caution in their asset financing strategies via financial leasing, coupled with a comprehensive assessment of operational efficiency, projected cash flows, and financial risk tolerance.
UR  - https://odad.org/article/financial-leasing-and-the-profitability-of-transport-companies-the-moderating-role-of-subsectors-9m2qi4pjvs5il12
ER  -