Impact of Stock Market Liquidity on Investment of Listed Enterprises: Evidence from Vietnam
This paper studies the effects of market liquidity and other factors on investment of non-financial companies listed on Vietnam stock exchange for the 2008–2013 period by adopting different measures of investment and liquidity, and considering the impact of interaction between liquidity and others,...
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| Những tác giả chính: | , |
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| Định dạng: | Bài viết |
| Ngôn ngữ: | English |
| Được phát hành: |
University of Economics Ho Chi Minh City
2023
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| Truy cập trực tuyến: | http://jabes.ueh.edu.vn/Home/SearchArticle?article_Id=b5031241-32cf-4fe1-b5e9-fc42a9b7aee4 http://scholar.dlu.edu.vn/thuvienso/handle/DLU123456789/115515 |
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| Thư viện lưu trữ: | Thư viện Trường Đại học Đà Lạt |
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| Tóm tắt: | This paper studies the effects of market liquidity and other factors on investment of non-financial companies listed on Vietnam stock exchange for the 2008–2013 period by adopting different measures of investment and liquidity, and considering the impact of interaction between liquidity and others, including issuing, financial constraints, and growth opportunities, on firm investment. The estimated results of DGMM with fixed effects and interacting variables prove that stock market liquidity negatively relates to the investment. We do not find any compelling evidence of the liquidity–investment nexus among firms with tighter financial constraints and better investment opportunities. However, we do find the relations between firm investment and financial leverage and also firm investment and cash flows. |
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