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Determinants of the Manipulated Financial Statements of Enterprises Listed on the Vietnam Stock Exchange

In: Contemporary Economic Issues in Asian Countries: Proceeding of CEIAC 2022, Volume 1

Author

Listed:
  • Hoang Ha Anh

    (Nong Lam University)

  • Tran Minh Hanh

    (Nong Lam University)

Abstract

This study was conducted to analyze the factors affecting the manipulation of financial statements for listed enterprises in Vietnam by analyzing and surveying 281 financial statements of enterprises in industries classified by MSCI and S&P and binary logistic regression model. Of the 281 observations, 159 financial statements had manipulation (56.6%) and 122 financial statements had no manipulation (43.4%). The study found no difference of this ratio for different occupations and capital sizes. The indicators DSRI, SGI, SGAI, FIRMSIZE, and FIRMAGE, which represent the number of times the financial statements audited by auditing firms of the Big 4 group, differed statistically significantly between the two groups of manipulative and non-manipulated financial statements. The model's estimation results show that the statistically significant variables are: DSRI, SGAI, LVGI, FIRMAGE. In particular, the SGAI and FIRMAGE variables had the strongest impact with a marginal impact of 35.8% and 32.7%, respectively. The predictive probability of the model is 66%. Based on the results of the survey data and the results of the regression model estimate, the topic has synthesized and proposed five groups of solutions to minimize manipulation of financial statements.

Suggested Citation

  • Hoang Ha Anh & Tran Minh Hanh, 2023. "Determinants of the Manipulated Financial Statements of Enterprises Listed on the Vietnam Stock Exchange," Springer Books, in: An Thinh Nguyen & Thu Thuy Pham & Joon Song & Yen-Ling Lin & Manh Cuong Dong (ed.), Contemporary Economic Issues in Asian Countries: Proceeding of CEIAC 2022, Volume 1, pages 419-437, Springer.
    • Handle: RePEc:spr:sprchp:978-981-19-9669-6_26
    DOI: 10.1007/978-981-19-9669-6_26
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