This study aims to examine the relationships between capital expenditure, supply chain activities, economic growth, and community welfare in the districts and cities of Central Kalimantan Province. The study analyzes the original sample data from 2014 to 2022 using a path analysis approach. The findings reveal significant positive relationships between capital expenditure, economic growth, and community welfare. However, the hypothesized positive relationships between supply chain activities and economic growth, supply chain activities and community welfare, and economic growth and community welfare are not supported. Moreover, the mediating roles of economic growth in the relationships between capital expenditure and community welfare and supply chain activities and community welfare are not confirmed. Theoretical implications highlight the importance of strategic capital expenditure in driving economic growth and enhancing community welfare. Practically, the study guides policymakers and development planners to allocate resources effectively for sustainable and balanced economic expansion. The study has limitations, including focusing on direct relationships and the specificity of Central Kalimantan Province. Future research could include external factors, apply cross-regional analyses, and utilize qualitative approaches to gain deeper insights. Additionally, spatial analyses could enhance understanding of geographic impacts. The novelty of this research lies in its comprehensive exploration of the interplay between capital expenditure, supply chain activities, economic growth, and community welfare in the context of Central Kalimantan Province. By shedding light on the intricate dynamics between these variables, this study contributes to the existing literature on regional development and public policy while offering insights for informed decision-making and sustainable development practices.

This research was conducted to investigate the factors affecting the company’s capital expenditure. Data were collected from the firms listed on Ho Chi Minh Stock Exchange (HOSE) over the period of nine years from 2010 to 2018, including the sample of 192 non-financial listed companies. Three statistical approaches were employed to address econometrics issues and to improve the accuracy of the regression coefficients: Random Effects Model (REM), Fixed Effects Model (FEM) and Generalized Method of Moments (GMM). The results show that free cash flows and firm size influenced positively on capital expenditure. By contrast, other factors such as dividend, interest expenses, depreciation and working capital had negative effects on capital expenditure. Based on the research results, some key intuitive recommendations were proposed for managers and investors in order to help them in making decisions.