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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

Treść / Zawartość
Warianty tytułu
Języki publikacji
EN
Abstrakty
EN
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)
Rocznik
Strony
48--60
Opis fizyczny
Twórcy
  • International University of Japan
Bibliografia
  • ADB and Viet Nam Fact Sheet, 2010
  • Ajinkya, Bijal., and Kumar, Mahesh., (2012), Taxation aspects of Mergers and Acquisitions, Asia-Pacific Tax Bulletin
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  • Chava, Sudheer., Oettl, Alexander., Subramanian, Ajay., and Subramania, Krisnamurthy V., (2013), Banking Deregulation and Innovation, Journal of Financial Economics
  • Chen, K.C., Wu, Lifan., and Wen, Jian., (2013), The Relationship Between Finance and Growth in China, Global Finance Journal
  • Eugene, Fama F., and French, Kenneth R., (2004), The Capital Asset Pricing Model: Theory and Evidence, Journal of Economic Perspectives
  • Flifel, Kaouther., (2012), Financial Markets between Efficiency and Persistence : Empirical Evidence on Daily Data, Asian Journal of Finance and Accounting
  • Grullon, Gustavo., Lyandres, Evgeny., and Zhdanov, Alexei., (2012), Real Options, Volatility and Stock Returns, Journal of Finance
  • Huy, Dinh T.N., (2012), Estimating Beta of Viet Nam listed construction companies groups during the crisis, Journal of Integration and Development
  • Kale, Jayant R., Meneghetti, Costanza., and Sharur, Husayn., (2013), Contracting With Non-Financial Stakeholders and Corporate Capital Structure: The Case of Product Warantties, Journal of Financial and Quantitative Analysis
  • Ling, Amy., (2013), Tax Issues Relating to Intangibles, Asia-Pacific Tax Bulletin
  • Lu, Wenling., and Whidbee, David A., (2013), Bank Structure and Failure, Journal of Financial Econoic Policy
  • Maria, Ana POPA (2012)., The Impact of Social Factors on Economic Growth: Empirical Evidence for Romania and European Union Countries, Romanian Journal of Fiscal Policy
  • Neumann, Michael., and Skiadopoulos, George., (2013), Predictable Dynamics in Higher Order Risk-Neutral Moments : Evidence From The S&P 500 Options, Journal of Financial and Quantitative Analysis
  • Shahrokhi, Manuchehr., (2010), the Global Financial Crises of 2007-2010 and The Future of Capitalism, Global Finance Journal
Typ dokumentu
Bibliografia
Identyfikatory
Identyfikator YADDA
bwmeta1.element.ekon-element-000171270739

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