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 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 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.

Evaluation of Beta CAPM under Financial Leverage Scenarios in Viet Nam Real Estate Industry under Financial Leverage

2021 ◽  
Vol 7 (Extra-E) ◽  
pp. 497-509
Author(s):  
Phan Anh
Keyword(s):  
Real Estate ◽  
Stock Price ◽  
Stock Exchange ◽  
Risk Level ◽  
Viet Nam ◽  
Real Estate Industry ◽  
Financial Leverage ◽  
Financial Reports ◽  
Listed Firms ◽  
Bank System

This paper evaluates the impacts of external financing on market risk for the listed firms in the Vietnam real estate industry. In order to propose evidence for establishing policies in risk management and governance, authors use live data of stock price and rates form bank system and Vietnam stock exchange. Research findings show that  when estimating asset and equity beta of total 45 listed companies in Viet Nam real estate industry with a proper traditional model, beta values, in general, for many institutions are acceptable. Then, 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 (0,348) when leverage increases to 30% and it increases (0,385) if leverage decreases down to 20%. And by changing leverage in 3 scenarios, we recognized the dispersion of risk level, measured by equity beta var, increases if the leverage increases to 30%. And the asset beta var value is quite small, showing leverage efficiency.

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