scholarly journals The Measurement of Impacts of Tax Rates on the Risk Level of Listed Viet Nam Banking Firms During 2009-2011

2013 ◽  
Vol 2 (1) ◽  
pp. 83-92
Author(s):  
Dinh Tran Ngoc Huy
Keyword(s):  
Financial Crisis ◽  
Analytical Methods ◽  
Positive Relationship ◽  
Banking Industry ◽  
Mean Value ◽  
Risk Level ◽  
Viet Nam ◽  
Traditional Model ◽  
Tax Rates ◽  
Listed Firms

The emerging stock market in Viet Nam has been developed since 2006 and affected by the financial crisis 2007-2009. This paperwork analyzes the impacts of tax policy on market risk for the listed firms in the banking industry as it becomes necessary. First of all, by using quantitative and analytical methods to estimate asset and equity beta of total 9 listed companies in Viet Nam banking industry with a proper traditional model, we found out that the beta values, in general, for many institutions are acceptable.Second, under 3 different scenarios of changing tax rates (20%, 25% and 28%), we recognized that there is not large disperse in equity beta values, estimated at 0,109, 0,108 and 0,107. These values are low and acceptable. Third, by changing tax rates in 3 scenarios (25%, 20% and 28%), we recognized equity beta mean value has positive relationship with the increasing levels of tax rate.Finally, this paper provides some outcomes that could provide companies and government more evidence in establishing their policies in governance.

scholarly journals IMPACTS OF EXTERNAL FINANCING ON THE RISK LEVEL OF VIET NAM NATURAL GAS AND OIL INDUSTRY DURING AND AFTER THE GLOBAL CRISIS 2007-2009

2015 ◽  
Vol 3 (9) ◽  
pp. 49-62
Author(s):  
Dinh Tran Ngoc Huy
Keyword(s):  
Financial Crisis ◽  
Natural Gas ◽  
Analytical Methods ◽  
Oil Industry ◽  
Risk Level ◽  
Viet Nam ◽  
Traditional Model ◽  
External Financing ◽  
Financial Reports ◽  
Listed Firms

This paper estimates the impacts of external financing on market risk for the listed firms in the Viet nam natural gas and oil industry, esp. after the financial crisis 2007-2009. First, by using quantitative and analytical methods to estimate asset and equity beta of total 15 listed companies in Viet Nam natural gas and oil industry with a proper traditional model, we found out that the beta values, in general, for many institutions are acceptable. Second, under 3 different scenarios of changing leverage (in 2011 financial reports, 30% up and 20% down), we recognized that the risk level, measured by equity and asset beta mean, decreases (0,231) when leverage increases to 30% and vice versa. Third, by changing leverage in 3 scenarios, we recognized the dispersion of risk level decreases (measured by equity beta var) if the leverage increases to 30%. Finally, this paper provides some outcomes that could provide companies and government more evidence in establishing their policies in governance.

scholarly journals The risk level of Vietnam non-banking investment and financial services industry under financial leverage during and after the global crisis 2007-2011

2013 ◽  
Vol 3 (3) ◽  
pp. 48-55
Author(s):  
Dinh Tran Ngoc Huy
Keyword(s):  
Financial Services ◽  
Analytical Methods ◽  
Risk Level ◽  
Financial Services Industry ◽  
Viet Nam ◽  
Traditional Model ◽  
External Financing ◽  
Financial Reports ◽  
Listed Firms ◽  
Services Industry

This paper estimates the impacts of external financing on market risk for the listed firms in the Viet nam non-banking financial services industry, esp. after the financial crisis 2007-2009. First, by using quantitative and analytical methods to estimate asset and equity beta of total 10 listed companies in Vietnam non-banking financial services industry with a proper traditional model, we found out that the beta values, in general, for many institutions are acceptable. Second, under 3 different scenarios of changing leverage (in 2011 financial reports, 30% up and 20% down), we recognized that the risk level, measured by equity and asset beta mean, decreases when leverage increases to 30% and vice versa. Third, by changing leverage in 3 scenarios, we recognized the dispersion of risk level increases (measured by equity beta var) if the leverage decreases down to 20%. Finally, this paper provides some outcomes that could provide companies and government more evidence in establishing their policies in governance.

scholarly journals The Measurement of Impacts of External Financing on The Risk Level of Viet Nam Construction Material Industry During and After The Global Crisis 2007-2011

2013 ◽  
Vol 1 (3) ◽  
pp. 60-74
Author(s):  
Dinh Tran Ngoc Huy
Keyword(s):  
Analytical Methods ◽  
Construction Material ◽  
Risk Level ◽  
Viet Nam ◽  
Traditional Model ◽  
External Financing ◽  
Material Industry ◽  
Financial Reports ◽  
Listed Firms ◽  
Construction Material Industry

This research paper aims to analyze the impacts of external financing on market risk for the listed firms in the Viet nam construction material industry, esp. after the financial crisis 2007-2009. First, by using quantitative and analytical methods to estimate asset and equity beta of total 57 listed companies in Viet Nam construction material industry with a proper traditional model, we found out that the beta values, in general, for many institutions are acceptable. Second, under 3 different scenarios of changing leverage (in 2011 financial reports, 30% up and 20% down), we recognized that the risk level, measured by equity and asset beta mean, decreases when leverage increases to 30% and vice versa. Third, by changing leverage in 3 scenarios, we recognized the dispersion of risk level increases (measured by equity beta var) if the leverage increases to 30%. Finally, this paper provides some outcomes that could provide companies and government more evidence in establishing their policies in governance.

scholarly journals Changing Tax Policy Impacts on the Risk Level of Viet Nam Wholesale and Retail Firms after the Global Crisis 2007-2011

2018 ◽  
Vol 2 (1) ◽  
pp. 39-50
Author(s):  
Dinh Tran Ngoc Huy
Keyword(s):  
Financial Markets ◽  
Tax Policy ◽  
Positive Relationship ◽  
Retail Industry ◽  
Risk Level ◽  
Viet Nam ◽  
Tax Rates ◽  
Mean Values ◽  
Listed Firms ◽  
Policy Impacts

Many financial markets including but not limit to, the emerging stock market in Viet Nam, have been affected by the financial crisis 2007-2011. This study analyzes the impacts of tax policy on market risk for the listed firms in the wholesale and retail industry during this period as it becomes necessary. First, by using quantitative and analytical methods to estimate asset and equity beta of total 9 listed companies in Viet Nam wholesale and retail industry with a proper traditional model, we found out that the beta values, in general, for many companies are acceptable.Second, under 3 different scenarios of changing tax rates (20%, 25% and 28%), we recognized that there is not large disperse in equity beta values, estimated at 0,646, 0,653 and 0,657.These values are much lower than those of the listed VN construction firms.Third, by changing tax rates in 3 scenarios (25%, 20% and 28%), we recognized both equity and asset beta mean values have positive relationship with the increasing levels of tax rate.Finally, this paper provides some outcomes that could provide companies and government more evidence in establishing their policies in governance.

scholarly journals Measuring Equity and Asset Beta– Evidence in Viet Nam Three Insurance and Financial Service Industries After Crisis 2007-2009 and Low Inflation Period 2015-2017

2019 ◽  
pp. 196-208
Author(s):  
Dinh Tran Ngoc Huy
Keyword(s):  
Economic Development ◽  
Financial Crisis ◽  
Banking Industry ◽  
Insurance Industry ◽  
Market Risk ◽  
Financial Service ◽  
Service Industries ◽  
Risk Level ◽  
Viet Nam ◽  
Stock Investment

Vietnam financial service industries are growing and contributing much to the economic development and has been affected by inflation. High and increasing inflation might reduce values of insurance and banking contracts. This paper measures the volatility of market risk in Viet Nam banking, insurance and stock investment industry after this period (2015-2017). The main reason is the necessary role of the financial system in Vietnam in the economic development and growth in recent years always go with risk potential and risk control policies. This research paper aims to figure out how much increase or decrease in the market risk of Vietnam banking, insurance and stock investment firms during the post-low inflation environment 2015-2017, compared to what happened in the financial crisis 2007-2009.First, by using quantitative combined with comparative data analysis method, we find out the risk level measured by equity beta mean in the banking industry has increased whereas the risk fluctuation also increased. Second, stock investment industry has the level of market risk as well as the risk fluctuation decreasing. Third, different from the 2 above industries, insurance industry experienced the level of market risk increasing while the risk volatility decreasing. Then, one of its major findings is the comparison between risk level of stock investment industry during the financial crisis 2007-2009 compared to those in the post-low inflation time 2015-2017. During the financial crisis 2007-09, stock industry has the highest beta value whereas during the post-low inflation time, banking industry maintained the highest value. Finally, this paper provides some ideas that could provide companies and government more evidence in establishing their policies in governance. This is the complex task but the research results shows us warning that the market risk need to be controlled better during the post-low inflation period 2015-2017. And our conclusion part will recommends some policies and plans to deal with it.

scholarly journals Using External Financing in a One Factor Model Measuring the Volatility of Market Risk of Vietnam's Banking Industry During and After the Global Crisis

2019 ◽  
Vol 8 (2) ◽  
pp. 173-187
Author(s):  
Dinh Tran Ngoc Huy
Keyword(s):  
Banking Industry ◽  
Factor Model ◽  
Market Risk ◽  
Risk Level ◽  
Traditional Model ◽  
External Financing ◽  
Financial Reports ◽  
Listed Firms ◽  
The Government ◽  
The Impact

Abstract This paper evaluates the impact of external financing on market risk for the listed firms in Vietnam`s banking industry, especially during and after the financial crisis 2009-2011. First of all, by using quantitative and analytical methods to estimate asset and equity beta of total 9 listed companies in Vietnam banking industry with a proper traditional model, we found out that the beta values, in general, for many institutions are acceptable. Second, under 3 different scenarios of changing leverage (in 2011 financial reports, 30% up and 20% down), we recognized that the risk level, measured by equity and asset beta mean, decreases when leverage increases to 30% and increases more if leverage decreases down to 20%. Third, by changing leverage in 3 scenarios, we recognized the dispersion of risk level, measured by equity beta var, increases from 0,108 to 0,181 if the leverage increases to 30% whereas decreases to 0,073 if leverage decreases to 20%. But the dispersion measured by asset beta var decreases to 0,007 (leverage up 30%), showing leverage impact. Finally, this paper provides some outcomes that could provide companies and the government with more evidence in establishing their policies in governance.

scholarly journals Changing Tax Policy Impacts on the Risk Level of Viet Nam Wholesale and Retail Firms

2018 ◽  
Vol 6 (01) ◽  
Author(s):  
Faisal S. Al Amri
Keyword(s):  
Tax Policy ◽  
Retail Industry ◽  
Risk Level ◽  
Viet Nam ◽  
Tax Rates ◽  
Mean Values ◽  
Tax Rate ◽  
Listed Firms ◽  
Construction Firms ◽  
Policy Impacts

Many financial markets including but not limit to, the emerging stock market in Viet Nam, have been affected by the financial crisis 2007-2009. This study analyzes the impacts of tax policy on market risk for the listed firms in the wholesale and retail industry during this period as it becomes necessary. First, by using quantitative and analytical methods to estimate asset and equity beta of total 9 listed companies in Viet Nam wholesale and retail industry with a proper traditional model, we found out that the beta values, in general, for many companies are acceptable. Second, under 3 different scenarios of changing tax rates (20%, 25% and 28%), we recognized that there is not large disperse in equity beta values, estimated at 0,646, 0,653 and 0,657.These values are much lower than those of the listed VN construction firms. Third, by changing tax rates in 3 scenarios (25%, 20% and 28%), we recognized both equity and asset beta mean values have positive relationship with the increasing levels of tax rate. Finally, this paper provides some outcomes that could provide companies and government more evidence in establishing their policies in governance.

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