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 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.

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 Risk Management in Viet Nam Tourism Industry Under the Impact of a Two Factor Model During and After the Global Crisis

2019 ◽  
Vol 1 (2) ◽  
pp. p129
Author(s):  
Dinh Tran Ngoc Huy ◽  
Du Quoc Dao
Keyword(s):  
Financial Markets ◽  
Global Financial Crisis ◽  
Factor Model ◽  
Tourism Industry ◽  
Viet Nam ◽  
Tax Rates ◽  
Mean Values ◽  
Policy Suggestions ◽  
The Global Financial Crisis ◽  
The Impact

Over past few years, the global financial crisis shows certain influence on emerging financial markets including Viet nam. Therefore, this study chooses an analytical approach to give some systematic opinions on how much some certain determinants such as income tax and leverage, affect the level of market risk in listed tourism companies.First, it calculates equity and asset beta values in three different scenarios of changing tax rates and changing the level of financial leverage. 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 0,753 for current leverage situation.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 level of tax rate.Last but not least, this paper covers some ideas and policy suggestions.

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