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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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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oai:scholar.dlu.edu.vn:DLU123456789-1155152023-03-08T03:56:40Z Impact of Stock Market Liquidity on Investment of Listed Enterprises: Evidence from Vietnam Tran, Ngoc Tho Dang, Nhu Y 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. 2023-03-08T03:56:40Z 2023-03-08T03:56:40Z 2016 Article 2615-9112 http://jabes.ueh.edu.vn/Home/SearchArticle?article_Id=b5031241-32cf-4fe1-b5e9-fc42a9b7aee4 http://scholar.dlu.edu.vn/thuvienso/handle/DLU123456789/115515 10.24311/jabes/2016.23.4.08 en Journal of Asian Business and Economic Studies, Volume 23, Issue 04; p. 80-96 application/pdf University of Economics Ho Chi Minh City |
| institution |
Thư viện Trường Đại học Đà Lạt |
| collection |
Thư viện số |
| language |
English |
| description |
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. |
| format |
Article |
| author |
Tran, Ngoc Tho Dang, Nhu Y |
| spellingShingle |
Tran, Ngoc Tho Dang, Nhu Y Impact of Stock Market Liquidity on Investment of Listed Enterprises: Evidence from Vietnam |
| author_facet |
Tran, Ngoc Tho Dang, Nhu Y |
| author_sort |
Tran, Ngoc Tho |
| title |
Impact of Stock Market Liquidity on Investment of Listed Enterprises: Evidence from Vietnam |
| title_short |
Impact of Stock Market Liquidity on Investment of Listed Enterprises: Evidence from Vietnam |
| title_full |
Impact of Stock Market Liquidity on Investment of Listed Enterprises: Evidence from Vietnam |
| title_fullStr |
Impact of Stock Market Liquidity on Investment of Listed Enterprises: Evidence from Vietnam |
| title_full_unstemmed |
Impact of Stock Market Liquidity on Investment of Listed Enterprises: Evidence from Vietnam |
| title_sort |
impact of stock market liquidity on investment of listed enterprises: evidence from vietnam |
| publisher |
University of Economics Ho Chi Minh City |
| publishDate |
2023 |
| url |
http://jabes.ueh.edu.vn/Home/SearchArticle?article_Id=b5031241-32cf-4fe1-b5e9-fc42a9b7aee4 http://scholar.dlu.edu.vn/thuvienso/handle/DLU123456789/115515 |
| _version_ |
1765278442677338112 |