Vo, Xuan Vinh (2010): Foreign ownership in Vietnam stock markets - an empirical analysis.
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This paper investigates foreign ownership in the Vietnam stock market from 2007 to 2009 employing a rich and detailed dataset. From the perspective of informational asymmetry, the paper examines the relationship between the foreign ownership level and attributes of Vietnamese listed firm in Ho Chi Minh City Stock Exchange. The findings of the paper indicate that foreign investors have preference for large firms, firms with high book-to-market ratio and firms with low leverage. Foreign investors also avoid firms with dominant shareholders and prefer to invest in firms where they can have influence. The results imply that foreign investors favor to invest in firms where they can avoid informational asymmetry.
|Item Type:||MPRA Paper|
|Original Title:||Foreign ownership in Vietnam stock markets - an empirical analysis|
|English Title:||Foreign ownership in Vietnam stock markets - an empirical analysis|
|Keywords:||foreign ownership, firm attributes, foreign investors, Vietnam|
|Subjects:||G - Financial Economics > G1 - General Financial Markets > G12 - Asset Pricing ; Trading Volume ; Bond Interest Rates
G - Financial Economics > G1 - General Financial Markets > G11 - Portfolio Choice ; Investment Decisions
G - Financial Economics > G1 - General Financial Markets > G10 - General
|Depositing User:||Xuan Vinh Vo|
|Date Deposited:||04 Apr 2011 02:09|
|Last Modified:||17 Nov 2016 23:47|
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