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Factors Effect on Corporate Cash Holdings of the Energy Enterprises Listed on Vietnam s Stock Market

Author

Listed:
  • Phung Anh Thu

    (Faculty of Finance and Accounting, Nguyen Tat Thanh University, Ho Chi Minh City, Vietnam,)

  • Nguyen Vinh Khuong

    (Faculty of Accounting and Auditing, University of Economics and Law, Viet Nam National University, Ho Chi Minh City, Vietnam)

Abstract

This study examines the factors effect on corporate cash holdings of the energy enterprises listed on Vietnam s stock market. Our data set includes 28 energy companies on Vietnam stock markets (HNX and HOSE) in the period from 2010 to 2016, with a total of 196 firm-year observations being collected. We used GMM estimator to test our hypotheses. The results show a negative association between leverage, return on assets, operating cash flow and corporate cash holdings while a tangible asset has a positive relationship.

Suggested Citation

  • Phung Anh Thu & Nguyen Vinh Khuong, 2018. "Factors Effect on Corporate Cash Holdings of the Energy Enterprises Listed on Vietnam s Stock Market," International Journal of Energy Economics and Policy, Econjournals, vol. 8(5), pages 29-34.
    • Handle: RePEc:eco:journ2:2018-05-4
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    References listed on IDEAS

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    Cited by:

    1. Aleksei A. Shulus & Svetlana M. Doguchaeva & Gurgen L. Gukasyan & Aleksandr V. Bobkov & Valeriy I. Prasolov, 2019. "Management of the Energy Business in the Countries with Developing Economies in the Conditions of the Integration Processes," International Journal of Energy Economics and Policy, Econjournals, vol. 9(5), pages 74-87.
    2. Nguyen Vinh Khuong & Nguyen Tran Thai Ha & Phung Anh Thu, 2019. "The Relationship between Real Earnings Management and Firm Performance: The Case of Energy Firms in Vietnam," International Journal of Energy Economics and Policy, Econjournals, vol. 9(2), pages 307-314.

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    More about this item

    Keywords

    corporate cash holdings; energy enterprises; Vietnam.;
    All these keywords.

    JEL classification:

    • G33 - Financial Economics - - Corporate Finance and Governance - - - Bankruptcy; Liquidation
    • G31 - Financial Economics - - Corporate Finance and Governance - - - Capital Budgeting; Fixed Investment and Inventory Studies

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