Impacts of Macroeconomic News on Vietnamese SOEs' Performance

Nicholas Lee, Fu-Min Chang, Yale Wang, Duong Thu La and Hsiang-Jane Su

Journal of Applied Finance & Banking, 2017, vol. 7, issue 1, 5

Abstract: This paper examines impacts of macroeconomic news on Vietnamese state-owned enterprises’ (SOEs) performance. Macroeconomic news variables are based on changes in GDP, interest rate, and inflation, respectively. We consider Vietnamese non-financial listed firms, and panel data regression is proposed. Our results show that interest rate is found to be significantly negative associated with firm performance but changes in GDP and firm performance are positively related. Additionally, due to socialist market economy reforms, we further show that SOEs are still dominant influence in firm performance. No evidence of effects of taxation on firm performance after a series of deregulation of taxation is detected. Therefore, our findings offer valuable insights on macroeconomic news and firm performance.JEL classification numbers: D22, E31, G34, C33Keywords: macroeconomic news, firm performance, Vietnamese SOEs, panel data regression

Date: 2017
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://www.scienpress.com/Upload/JAFB%2fVol%207_1_5.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spt:apfiba:v:7:y:2017:i:1:f:7_1_5

Access Statistics for this article

More articles in Journal of Applied Finance & Banking from SCIENPRESS Ltd
Bibliographic data for series maintained by Eleftherios Spyromitros-Xioufis ().