Search

Search Results

• Effects of Market Risk on the Financial Performance of Food and Beverage Companies Listed on the Vietnam Stock Exchange

  Dao Thi Hoang Anh, Nguyen Thi Huong, Dang Dang Thi Hai Yen

  Received: Aug 15, 2023 / Accepted: Dec 05, 2024 / Published: Dec 20, 2024

   Abstract PDF

  This study investigated the effects of market risk on the financial performance of 47 food and beverage companies listed on the Vietnam Stock Exchange, including the Ho Chi Minh City Stock Exchange (HOSE) and the Hanoi Stock Exchange (HNX), over the period of 2008-2022. Forty-seven companies were selected based on industry classification criteria and relevance in the research period. The return on assets, return on equity, and net profit margin were used to represent the financial performance, and the gearing ratio, book-to-market ratio, and financial leverage as the market risk factors. This research used the OLS model, fixed effect model (FEM), and random effect model (REM) for the panel data. The results showed that the impact of the variables was different in the different models. The book to market ratio and gearing ratio had significant negative influences on the companies’ financial performance while the degree of financial leverage and inflation rate showed positive consequences due to the moderate level of inflation in Vietnam over the period of 2008-2022. Usually, the cash ratio and company size showed a proportional relationship to financial performance, while the ratio of debt to revenue and debt to assets had an inverse relationship, meaning an increase will make the business efficiency decrease. Based on the research results, this study provided some recommendations to improve food and beverage companies’ financial performance, and also provided some information for broader research for non-financial companies listed on the Vietnam Stock Exchange. 

• Determinants of Liquidity Risk in Vietnamese Commercial Banks

  Nguyen Thi Huong, Dang Thi Hai Yen

  Received: Dec 12, 2022 / Published: Mar 29, 2024

   Abstract PDF

  Liquidity risk, which tends to compound other risks such as credit and market risks, has become one of the principal risks in banks. Thus, this study examined the determinants of liquidity risk measured by the loan deposit ratio (LDR). The sample included 30 commercial banks in Vietnam based on secondary data coverage from 2017-2021. Descriptive statistics were used to determine the general situation of the banks' assets, liabilities, and business performance. The random effects model (REM) was chosen to determine factors affecting liquidity risk. The results show the huge gap in the business performance of the four state-owned banks and the rest of the joint-stock commercial banks, and the state-owned banks always accounted for over 50% of the total credit, assets, and deposits of the whole banking system. The average banks’ credit and profit growth rates were around 17% and 30%, respectively, and the bad debt ratio was about 2%. Increasing a bank’s credit growth rate and profitability would push up its liquidity risk. On the other hand, holding several liquid securities that banks could sell immediately to meet solvency requirements and maintaining a high capital adequacy ratio (CAR) would reduce their liquidity risk. These findings are valuable to the banks in understanding how to minimize liquidity risk, such as controlling the credit growth rate and CAR, setting appropriate profit targets, and investing in liquid securities. Additionally, by conducting monetary policies, the State Bank should regulate market liquidity and bank liquidity for the safe operation of the financial system.

• The Roles of Perennial Crop Systems to Rural Households: A Case Study in Dak Lak Province, Central Highlands, Vietnam

  Phan Thi Thuy, Vo Xuan Hoi, Le The Phiet, Nguyen Ngoc Thang, Le Duc Niem, Lebailly Philippe

  Received: Feb 14, 2023 / Published: Sep 29, 2023

   Abstract PDF

  This study investigated the role of perennial crop systems in enhancing sustainable livelihoods among rural households in Dak Lak province, Vietnam, with a particular focus on coffee and pepper crops. To gather data for this study, structured interviews were conducted with 86 households (90 farms) through a multi-stage sampling approach from January to May 2019. Moreover, the effectiveness of two agroforestry systems, monoculture and multitrophic agroforestry, was compared. The findings highlighted numerous significant conclusions. First, perennial crop systems contributed significantly to the improvement of rural households' livelihoods through improved monetary income, job creation, the participation of women, and expanded work prospects. Second, intercropping systems were the most economically viable sources of income and less susceptible to market price risk. This conclusions emphasize the importance of farmers and local governments understanding the roles of perennial crops to livelihoods.

• Swine Production and Challenges in Vietnam after African Swine Fever: A Case Study in Peri-Urban Hanoi, Vietnam

  Nguyen Thi Duong Nga, Pham Van Hung, Le Thi Long Vy, Nguyen Thi Thu Huyen, Duong Nam Ha, Giang Huong

  Received: Dec 15, 2020 / Published: Jun 18, 2021

   Abstract PDF

  The goal of this paper was to identify major challenges in rebuilding the swine industry in Vietnam, using the Chuong My district, Hanoi as a case study. Primary data was gathered in 2020 mainly through a survey of 97 swine producers in the district. Analysis tools were descriptive and comparative statistics. Results show that after the ASF outbreak, the recovery of the swine industry in Vietnam faced several challenges, including the issues of piglet quantity and quality, changing consumer preferences which were worsened by the current Covid-19 pandemic, relatively cost disadvantage of domestic production under the context of new free trade agreements, disease risk (ASF under the condition of no effective and safe vaccine), insufficient resources of farms to restock, and environmental issues caused by swine production in rural areas. The paper proposed several recommendations to rebuilding the swine herd in order to address the issues and overcome the challenges, mainly focus on improving sow quality, market information and linkages, good practices in production, training for labor, and address environmental issues.