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Impacts of Macroeconomic News on Vietnamese SOEs' Performance

Author

Listed:
  • Nicholas Lee
  • Fu-Min Chang
  • Yale Wang
  • Duong Thu La
  • Hsiang-Jane Su

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

Suggested Citation

  • Nicholas Lee & Fu-Min Chang & Yale Wang & Duong Thu La & Hsiang-Jane Su, 2017. "Impacts of Macroeconomic News on Vietnamese SOEs' Performance," Journal of Applied Finance & Banking, SCIENPRESS Ltd, vol. 7(1), pages 1-5.
    • Handle: RePEc:spt:apfiba:v:7:y:2017:i:1:f:7_1_5
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    More about this item

    Keywords

    macroeconomic news; firm performance; vietnamese soes; panel data regression;
    All these keywords.

    JEL classification:

    • D22 - Microeconomics - - Production and Organizations - - - Firm Behavior: Empirical Analysis
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance

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