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2014 | vol. 6, nr 1,2 | 48--60
Tytuł artykułu

The Measurement of Impacts of External Financing on The Risk Level of Viet Nam Real Estate Industry During and After The Global Crisis 2007-2011

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This research paper analyzes the impacts of external financing on market risk for the listed firms in the Viet nam real estate industry, esp. after the financial crisis 2007-2009. First, by using quantitative and analytical methods to estimate asset and equity beta of total 15 listed companies in Viet Nam real estate industry with a proper traditional model, we found out that the beta values, in general, for many institutions are acceptable. Second, under 3 different scenarios of changing leverage (in 2011 financial reports, 30% up and 20% down), we recognized that the risk level, measured by equity and asset beta mean, decreases when leverage increases to 30% and vice versa. Third, by changing leverage in 3 scenarios, we recognized the dispersion of risk level increases (measured by equity beta var) if the leverage increases to 30%. Finally, this paper provides some outcomes that could provide companies and government more evidence in establishing their policies in governance.(original abstract)
Opis fizyczny
  • International University of Japan
  • ADB and Viet Nam Fact Sheet, 2010
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  • Shahrokhi, Manuchehr., (2010), the Global Financial Crises of 2007-2010 and The Future of Capitalism, Global Finance Journal
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