Operational Scales, Sources of Finance, and Firms’ Performance: Evidence from Vietnamese Longitudinal Data

Working Papers CEB, N° 14/017, Solvay Brussels School of Economics & Management, Université Libre de Bruxelles.

19 Pages Posted: 8 Aug 2019

See all articles by Quan Hoang Vuong

Quan Hoang Vuong

Université Libre de Bruxelles (ULB) - Solvay Brussels School of Economics and Management; Phenikaa University

Date Written: July 23, 2014

Abstract

This study investigates a longitudinal dataset consisting of financial and operational data from 37 listed companies listed on Vietnamese stock market, covering the period 2004-13. By performing three main types of regression analysis - pooled OLS, fixed-effect and random-effect regressions - the investigation finds mixed results on the relationships between operational scales, sources of finance and firms' performance, depending on the choice of analytical model and use of independent/dependent variables. In most situation, fixed-effect models appear to be preferable, providing for reasonably consistent results. Toward the end, the paper offers some further explanation about the obtained insights, which reflect the nature of a business environment of a transition economy and an emerging market.

Keywords: Longitudinal data analysis, firm performance, operational scales, sources of finance, transition economy, emerging markets, Vietnam

JEL Classification: G32, L25, M10, P27

Suggested Citation

Vuong, Quan Hoang, Operational Scales, Sources of Finance, and Firms’ Performance: Evidence from Vietnamese Longitudinal Data (July 23, 2014). Working Papers CEB, N° 14/017, Solvay Brussels School of Economics & Management, Université Libre de Bruxelles., Available at SSRN: https://ssrn.com/abstract=2470425 or http://dx.doi.org/10.2139/ssrn.2470425

Quan Hoang Vuong (Contact Author)

Université Libre de Bruxelles (ULB) - Solvay Brussels School of Economics and Management ( email )

ULB CP 145/01
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Brussels, Bruxelles 1050
Belgium
+32-2-6504864 (Phone)
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HOME PAGE: http://www.ceb-ulb.com/vuong-quan-hoang.html

Phenikaa University ( email )

To Huu road, Yen Nghia
Ha Dong district
Hanoi, Hanoi 100803
Vietnam

HOME PAGE: http://sites.google.com/site/vuongqh2019/

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