影響越南股市表現之因素

Factors Affecting Vietnamese Firms’ Stock Performance

梁勢勇(Luong The Dung)

指導教授 ： 阮氏清萍

朝陽科技大學/管理學院/財務金融系/碩士(2014年)

摘要

本研究主要探討公司治理以及總體經濟變數越南企業在2008-2012年期間對股價表現之影響。在不同的股價表現框架中，企業的特徵和股票表現之間的關係相當明顯。政府持股比率對股票表現具有顯著正面影響，而企業規模有負面影響。房地產公司明顯有高股票收益。出人意料的是，於研究期間，風險-收益的規則不是很明顯，股票收益對GDP增長的直接貢獻是相當有限。

關鍵字

股票收益 ； 企業規模 ； 股價表現 ； 越南

並列摘要

This study aim at finding the effects of corporate governance as well as macroeconomic on stock performance of Vietnamese firms during 2008-2012 period. Within framework of different regimes, it is found that the relationship between firm’s characteristics and stock performance is evident in Vietnam. The capital owned by state party in firms has the significant positive impact on stock performance, while the firm size has the negative effect. Real estate firms are found to significantly generate high stock returns. Surprisingly, the rule of risk-return is not quite obvious during the sample period and the direct contribution of stock returns to GDP growth is rather limited.

並列關鍵字

Stock Returns ； Firm Size ； Stock Performance ； Vietnam

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