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RISS 인기검색어
- 검색키워드
- 저자 : Ngo Van Toan (검색결과 6 건)
- 무료
- 기관 내 무료
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The Impact of Debt on Corporate Profitability: Evidence from Vietnam
Van Toan NGO,Thị Xuan Huong TRAM,Ba Thanh VU 한국유통과학회 2020 The Journal of Asian Finance, Economics and Busine Vol.7 No.11
The study aims to investigate the impact of debt on corporate profitability in the context of Vietnam. The paper investigates the impact of debt on corporate profitability in non-finance listed companies on the Vietnam stock market. The panel data of the research sample includes 118 non-financial listed companies on the Vietnam stock market for a period of nine years, from 2009 to 2017. The Generalized Method of Moments (GMM) is employed to address econometric issues and to improve the accuracy of the regression coefficients. In this research, corporate profitability is measured as the return of EBIT on total assets. The debt ratio is a ratio that indicates the proportion of a company’s debt to its total assets. Firm sizes, tangible assets, growth rate, and taxes are control variables in the study. The empirical results show that debt has a statistically significant negative effect on corporate profitability. The result also shows this effect is stronger in a non-linear (concave) way, we show that the debt ratio has nonlinear effects on corporate profitability. From this, experimental evidence shows that the optimal debt ratio is 38.87%. This evidence provides a new insight to managers of the non-finance companies on how to improve the firm’s profitability with debt.
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Factors Influencing Corporate Debt Maturity: An Empirical Study of Listed Companies in Vietnam
Van Toan NGO,Thi Lanh LE 한국유통과학회 2021 The Journal of Asian Finance, Economics and Busine Vol.8 No.5
The maturity structure of corporate debt is one of the significant financing choices that a firm must make simultaneously while deciding how to finance its operational and investment decisions. Even though the capital structure is one of the scrutinized topics of interest in the corporate finance literature, scarce studies have investigated corporate debt maturity, even less so in the context of emerging markets. The choice of a suitable debt maturity structure is exceptionally relevant for firms. It can enable them to avoid mismatch by aligning assets in line with liabilities, addressing agency-related problems, sidestep the ill effects of cost of capital, and signaling the firms’ earning quality and value. The study investigates the firm-specific and macroeconomic determinants significant for the debt maturity structure of Vietnamese corporate firms. A sample of 722 non-financial firms listed on the Ho Chi Minh and Hanoi Stock Exchange in Vietnam from 2007 to 2018 was taken to test the hypothesis. The study’s methods fixed effects panel data analysis provides empirical evidence that firm size, firms’ quality, liquidity, leverage, asset maturity, tax impact, and macro variables are significantly related to the debt maturity structure.
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The Relationship between Organizational Justice and Social Loafing in Ho Chi Minh City, Vietnam
Vu Ba Thanh,Ngo Van Toan 한국유통과학회 2018 The Journal of Asian Finance, Economics and Busine Vol.5 No.3
This study aims to explore the relationship between organizational justice and social loafing of organizations in Ho Chi Minh City through quantitative analysis from the survey data for the 228 employees are working at the Organizations in Ho Chi Minh City. The instrument of collecting data was a questionnaire. The collected data were analyzed using SPSS version 22 and employing exploratory factor analysis (EFA), Cronbach's alpha, multiple regression analysis. The results showed that only two factors are Distributive justice and Procedural justice is to have the reverse effect on social loafing of employee. From the results of the study showed, Distributive justice and Procedural justice has the opposite effect of social loafing, which demonstrates that when individuals feel that their work is spent on Perform tasks in a clearly divided and they will receive a worthwhile result in the group when performing the task then the individual's collective indifference to the organization will decrease. And motivate the employee to make more efforts to work and contribute for the organization. In addition, the factor of Procedural justice also has the opposite effect of collective redundancy, which demonstrates that employees are more concerned about fairness in official policies and organizational procedures.
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The Relationship between Organizational Justice and Social Loafing in Ho Chi Min City
Vu,Ba Thanh,Ngo,Van Toan 한국유통과학회 2019 KODISA ICBE (International Conference on Business Vol.2019 No.-
This study aims to explore the relationship between organizational justice and social loafing of organizations in Ho Chi Minh City through quantitative analysis from the survey data for the 228 employees are working at the Organizations in Ho Chi Minh City. The results showed that only two factors are Distributive justice and Procedural justice is to have the reverse effect on social loafing of employee. From the results of the study showed, Distributive justice and Procedural justice has the opposite effect of social loafing, which demonstrates that when individuals feel that their work is spent on Perform tasks in a clearly divided and they will receive a worthwhile result in the group when performing the task then the individual s collective indifference to the organization will decrease. And motivate the employee to make more efforts to work and contribute for the organization. In addition, the factor of Procedural justice also has the opposite effect of collective redundancy, which demonstrates that employees are more concerned about fairness in official policies and organizational procedures.
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Modelling Stock Market Volatility: Evidence from Vietnam
Ho,Thuy Tien,Ho,Thu Hoai,Ngo,Van Toan 한국유통과학회 2019 KODISA ICBE (International Conference on Business Vol.2019 No.-
This study empirically investigates the volatility pattern of Indian stock market based on time series data which consists of daily closing prices of VN-Index for period 2005 - 2016. The analysis has been done using both symmetric and asymmetric models of Generalized Autoregressive Conditional Heteroscedastic (GARCH). According to Akaike Information Criterion (AIC) and Schwarz Information Criterion (SIC) criteria, the study proves that GARCH (1,1) and TGARCH (1,1) estimations are found to be most appropriate model to capture the symmetric and asymmetric volatility respectively. The study also provides evidence for the existence of asymmetric effects (leverage) by the parameters of the EGARCH(1,1) model that show that negative shocks have significant effects on Conditionally (fluctuate), but in the TGARCH(1.1) model the results are not as expected. This topic also provides investors with a tool to forecast the return of the stock market. At the same time, the results of the study will help investors and policymakers determine the profitability and volatility of the market so that they make the right decision to hold the securities.
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