- Final Year Project (FYP)
Authors: Bui, Thi Ha Trang; Advisor: Do, Phuong Huyen (2016) - The study examined the relationship between the size of firm which measured by market capitalization, number of issued stocks and liquidity on 283 firms listed on Hochiminh Stock Exchange in 2015. The study used Trading volume, Turnover and Aggregate turnover measures for shares liquidity. Using descriptive statistical, correlation matrix, linear regression and logistic regression, the study has determined that the logistic transformation for Turnover is the best measure of liquidity in Vietnam and detected a moderate positive correlation coefficient among liquidity variables and
liquidity ratio.
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- Final Year Project (FYP)
Authors: Nguyen, Thi Kim Duyen; Advisor: Do, Phuong Huyen (2017) - The study showed the positive relationship between liquidity and stock returns, which contradicts the negative correlation typically found in developed market but is compatible with those researches in emerging market like Vietnam.
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- Article
Authors: Do, Phuong Huyen; Nguyen, Thi Kim Duyen; Dao, Tuan Trung (2018-08) - This paper is to provide a comprehensive study about the role of liquidity in asset pricing by using the Fama-French (1993) three-factor model for risk adjustment. The relationship between liquidity and well-known determinants of stock returns such as size, book-to-market and firms beta are also investigated. In this paper, we studied a dataset of 199 Vietnamese firms listed on Ho Chi Minh City Stock Exchange (HOSE) over a 2-year period of April 2015 to March 2017 to find out whether liquidity is priced in Vietnam stock market. The study shows the positive relationship between liquidity and stock returns, which contradicts the negative correlation typically found in developed markets...
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- Final Year Project (FYP)
Authors: Ngo, Thanh Thanh Huyen; Advisor: Do, Phuong Huyen (2018) - This study examines the effect of monetary policy on the liquidity of the Vietnamese stock market between November 2014 and November 2017 with a sample of 50 companies in the above period. Three liquidity measures including Amihud, Turnover and Zeros are used to measure the liquidity o f the market. Two major variables of monetary policy and three liquidity measures are used in the VAR model. The results show that unexpected changes in the two main variables of monetary policy have a consistent effect on liquidity in the market. In particular, the positive change in the M2 supply led to increased liquidity and positive momentum in interest rates that reduced liquidity. Shocks in indus...
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- Article
Authors: Do, Phuong Huyen; Ngo, Thanh Thanh Huyen (2018-09) - This study examines the effect of monetary policy on the liquidity of the Vietnamese stock market between November 2014 and November 2017 with a sample of 50 companies in the above period. Three liquidity measurements including Amihud, Turnover and Zeros are used to measure the liquidity of the market. Two major variables of monetary policy and three liqiudity measurements are used in the VAR model. The results show that changes in to two main variables of manetary policy have a consistent effect on the liquidity in the market. In particular, an incearse in the M2 supply leads to the rise of liquidity aand an increase in interest rates reduces liquidity. Meanwhile, the rise of inflati...
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- Final Year Project (FYP)
Authors: Trinh, Thu Ngan; Advisor: Do, Phuong Huyen (2019) - The study determines the effect of F-score to detect frauds and errors in listed companies in Vietnam and some factors which impact to misstatement in financial reports. The author uses accounting data of financial statement from 2015-2017 in 156 misstated listed companies in Vietnam. In conclusion, the author suggests that F-score is not useful tool in Vietnam market and only one soft asset variable has negative relationship with real misstatement value statistically in financial statements.
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- Final Year Project (FYP)
Authors: Tran, Huu Manh; Advisor: Do, Phuong Huyen (2020) - This empirical study investigates the relationship between corporate governance and firm
performance for listed companies in Viet Nam. In this study, the author characterized
corporate governance by the Board of Director's size, CEO duality, Board of Directors
independence, managerial ownership, state ownership, and audit quality. Also, firm
performance is measured by accounting-based measurement (ROA and ROE). The study
used STATA to analyze panel data of 144 companies during the period 2016–2019. The
results indicated a negative relationship between Board independence and firm
performance and the positive relationship between CEO duality and firm performance in
the regressio...
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- Article
Authors: Do, Phuong Huyen (2017) - Put call parity is a theoretical no-arbitrage condition linking a call option price to a put
option price written on the same stock or index. This study finds that Put call parity violations are
quite symmetric over the whole sample. However during the ban period 2008 in the U.S., puts are
significantly and economically overpriced relative to calls. Some possible explanations are the
short selling restriction, momentum trading behaviour and the changes in supply and demand of
puts over the short ban. One interesting finding is that the relationship between time to expiry, put
call parity deviations and returns on the index is highly non-linear.
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- Article
Authors: Nguyen, Thi Minh Hue; Do, Phuong Huyen (2017-10) - The paper examnines how the introduction of Vietnamese ETFs impacts on liquidity of the underlying stocks. We found that the component stock’s liquidity decreased after the firt Vietnamese-based ETF (DBX) introduced in 2008, but significantly improved after the other two ETFs introduced in 2009 and 2014 (VNM and E1VFVN30, respectively). In addition, the stock liquidity change is more pronounced for the stock which had lower weight in the ETFs. The empirical findings may results in policy implication about the effects of ETF creation on the Vietnam stock market under different trends of stock market. ETF creation not only provides a new and alternative investment,, but also diversified...
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- Student report
Authors: Nguyen, Ngoc Mai; Nguyen, Thuy Linh; Do, Minh Ngoc; Advisor: Do, Phuong Huyen (2024) - This research aims to evaluate Financial Well-being with respect to Financial Fragility, Financial Literacy and Financial Attitude and Behaviour of the University students, particularly generation Z students, in the context of Vietnam. Additionally, the study
tries to determine how other variables such as gender, age, parental education, work status, and monthly income in Vietnam affect the Financial Well-being of GenZ students. Through a structured survey administered to 396 Vietnamese university
students, data was collected and analyzed using the Partial Least Squares-SEM model to estimate, predict, and assess the hypotheses. The findings show that while Financial Fragility is n...
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- Final Year Project (FYP)
Authors: Nguyen, Danh Viet Anh; Advisor: Do, Phuong Huyen (2024) - The essence of Financial Inclusion encompasses numerous advantages
ranging from the micro to macro levels for a country as a whole and its individual
inhabitants. Consequently, this investigation aims to identify factors conducive to
enhancing financial inclusion in Vietnam, with the ultimate goal of realizing
substantial benefits.
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- Presentation
Authors: Do, Phuong Huyen (2020) - This module is intended to introduce you to the ideas and techniques of running a financially successful business. In order to grow and expand, businesses must both find profitable investments and obtain funds to make those investments. This module aims to give you the tools and skills you need to do those two things and to develop your understanding of the concepts and principles on which good financial decisions are based.
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- Conference Paper
Authors: Nguyen, Thi Minh Hue; Do, Phuong Huyen (2020) - Green bonds are still a new financial instrument in Vietnam’s financial market. Awareness on developing green financial tools and green financial markets needs to be raised to support Vietnam’s Green Growth Strategy. The study has conducted a small-scale survey of consumers to confirm the need for green consumer products and support for green investments among the Vietnamese community. The opinions of experts from in-depth interviews, combined with the synthesis of research results from the literature review of foreign studies, have shown policy implications for the development of green bond tools for Vietnam.
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- Article
Authors: Do, Phuong Huyen; Nguyen, Trong Quyen; Nguyen, Tra My (2018-05) - The paper is a contribution to knowledge in the field of corporate finance by way of investigating the impact of capital structure on the performance and efficiency of join stock listed companies in Vietnam. The results confirm that there exists a trongly significant positive correlation between dedt-to-equity ratio and operational efficiency of the sample.
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- Final Year Project (FYP)
Authors: Nguyen, Trong Quyen; Advisor: Do, Phuong Huyen (2017) - The paper identifies the impact of capital structure and several other factors (size, growth rate, short-term liquidity solvency) to return ration on average owner's equity of companies in the Vietnam Stock Market, then proposes some solutions to help companies orient in their capital structure determination.
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- Final Year Project (FYP)
Authors: Nguyen, Gia Phuong; Advisor: Do, Phuong Huyen (2021) - This study aims to provide knowledge and facts about the Exchange-traded
funds market in Viet Nam. Moreover, a T-test is also drawn out to examine the
events related to Covid-19 pandemic exert influence on the performance of
domestic exchange-traded funds. Average abnormal returns and average trading
volume are employed in t-test with an observation time of 15 days, including, seven
days before and seven after the events. Two events in assessment are the official
announcement of Vietnamese nationwide lockdown and acquiring the first batch of
Covid-19 vaccine. The statistical analysis using paired sample t-tests shed light on
the findings that there was no significant divergenc...
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- Presentation
Authors: Do, Phuong Huyen (2020) - International Finance is one of the growing areas of the finance and economics curricula. Today’s financial market is truly global. No students of economics or finance can fully understand current development without some background in international finance. If, after completing this course a student can pick up The Wall Street Journal and understand the international financial news, along with its implications, then I feel that I have succeeded as a teacher.
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- Final Year Project (FYP)
Authors: Vu, Duy Thinh; Advisor: Do, Phuong Huyen (2018) - This paper focuses on investigating pricing efficiency or arbitrage opportunity of ETF in the context of Vietnam's stock market. By employing intraday data of the first local Vietnam-based ETF (VFMVN30 ETF - the fund that tracks performance of VN30 Index) listed on Ho Chi Minh stock exchange (HOSE) for a period of one month, specifically September 2018. The goal of this research is to uncover whether price of Vietnam-based ETF is highly efficient. The results of this research illustrate pricing of VNMVN30 ETF is quite efficient with small price deviation which is close to zero. The existence of price deviation is persistent and the change within one-minute interval is insignificant. F...
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- Final Year Project (FYP)
Authors: Duong, Thi Minh Nguyet; Advisor: Do, Phuong Huyen (2019) - This study attempts to examine the reaction of stock prices to dividend announcements using data of Vietnam's listed companies at the Ho Chi Minh Stock Exchange (HOSE).
This study employs event study methodology used in the sample 154 stocks that cash dividends were made in September 2018 to March 2O19.The investors consider dividend announcements as favorable news. The stock price reacts positively to subsequent dividend announcements. In fact, stocks include both dividend events increasing and decreasing. It also exists a situation for the cumulative abnormal return to go up in the pre-announcement but a downward trend after the post-announcement date. More specifically, I find tha...
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- Final Year Project (FYP)
Authors: Nguyen, Quoc Bao; Advisor: Do, Phuong Huyen (2019) - This study examines the impact of some typical macro-factors on the Deposits Behavior in Banking System in Vietnam from 2007 to 2018. The study took sample of 13 commercial banks in above period. Three groups of factors were used to research: Bank specific factor: GDP growth rate, Deposit Interest rate, Remittance level, Exchange rate; Macroeconomic factor: Liquidity Level, ROA, ROE, Non performing loan (NPL) and Control factor: Bank size. These groups of factors and the level of deposit are used in the VAR model. The results show that except for Deposit interest rate variable, all other variables have an consistent effect on level of deposit. Positive change of GDP growth rate can l...
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