Cash flow and financial distress of private listed enterprises on the Vietnam stock market: A quantile regression approach
The study evaluates the influence of cash flow on the financial distress of private listed enterprises on the Vietnamese stock market from 2010 to 2020. We use the data collected from the financial statements of 263 private non-financial enterprises listed on the Ho Chi Minh and Hanoi stock exchange...
| Main Authors: | , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Taylor & Francis Group
2022-12-01
|
| Series: | Cogent Business & Management |
| Subjects: | |
| Online Access: | https://www.tandfonline.com/doi/10.1080/23311975.2022.2121237 |
| _version_ | 1798003274825072640 |
|---|---|
| author | Thuy Duong Phan Thi Thanh Hoang Ngoc Mai Tran |
| author_facet | Thuy Duong Phan Thi Thanh Hoang Ngoc Mai Tran |
| author_sort | Thuy Duong Phan |
| collection | DOAJ |
| description | The study evaluates the influence of cash flow on the financial distress of private listed enterprises on the Vietnamese stock market from 2010 to 2020. We use the data collected from the financial statements of 263 private non-financial enterprises listed on the Ho Chi Minh and Hanoi stock exchanges from 2010 to 2020 in the FinPro database. The quantile regression method was employed to analyze the effect of cash flow on the financial distress of listed non-financial private enterprises. The results show that the cash flow from operating activities and the cash flow from financial activities have negative relationships with financial distress. However, the cash flow from investing activities has a positive relationship. Based on experimental results, the study proposes some recommendations on cash flow forecasting, building an optimal budget model to help business managers have appropriate cash flow management policies to reduce the risk of financial distress. |
| first_indexed | 2024-04-11T12:05:01Z |
| format | Article |
| id | doaj.art-39ecdc02efa64a2bac6b5ef91c9434ef |
| institution | Directory Open Access Journal |
| issn | 2331-1975 |
| language | English |
| last_indexed | 2024-04-11T12:05:01Z |
| publishDate | 2022-12-01 |
| publisher | Taylor & Francis Group |
| record_format | Article |
| series | Cogent Business & Management |
| spelling | doaj.art-39ecdc02efa64a2bac6b5ef91c9434ef2022-12-22T04:24:45ZengTaylor & Francis GroupCogent Business & Management2331-19752022-12-019110.1080/23311975.2022.2121237Cash flow and financial distress of private listed enterprises on the Vietnam stock market: A quantile regression approachThuy Duong Phan0Thi Thanh Hoang1Ngoc Mai Tran2Faculty of Transport Economics, University of Transport Technology, Hanoi, VietnamFaculty of Transport Economics, University of Transport Technology, Hanoi, VietnamFinance Faculty, Vietnam Banking Academy, Hanoi, VietnamThe study evaluates the influence of cash flow on the financial distress of private listed enterprises on the Vietnamese stock market from 2010 to 2020. We use the data collected from the financial statements of 263 private non-financial enterprises listed on the Ho Chi Minh and Hanoi stock exchanges from 2010 to 2020 in the FinPro database. The quantile regression method was employed to analyze the effect of cash flow on the financial distress of listed non-financial private enterprises. The results show that the cash flow from operating activities and the cash flow from financial activities have negative relationships with financial distress. However, the cash flow from investing activities has a positive relationship. Based on experimental results, the study proposes some recommendations on cash flow forecasting, building an optimal budget model to help business managers have appropriate cash flow management policies to reduce the risk of financial distress.https://www.tandfonline.com/doi/10.1080/23311975.2022.2121237cash flowfinancial distressquantile regressionG30G32G11 |
| spellingShingle | Thuy Duong Phan Thi Thanh Hoang Ngoc Mai Tran Cash flow and financial distress of private listed enterprises on the Vietnam stock market: A quantile regression approach Cogent Business & Management cash flow financial distress quantile regression G30 G32 G11 |
| title | Cash flow and financial distress of private listed enterprises on the Vietnam stock market: A quantile regression approach |
| title_full | Cash flow and financial distress of private listed enterprises on the Vietnam stock market: A quantile regression approach |
| title_fullStr | Cash flow and financial distress of private listed enterprises on the Vietnam stock market: A quantile regression approach |
| title_full_unstemmed | Cash flow and financial distress of private listed enterprises on the Vietnam stock market: A quantile regression approach |
| title_short | Cash flow and financial distress of private listed enterprises on the Vietnam stock market: A quantile regression approach |
| title_sort | cash flow and financial distress of private listed enterprises on the vietnam stock market a quantile regression approach |
| topic | cash flow financial distress quantile regression G30 G32 G11 |
| url | https://www.tandfonline.com/doi/10.1080/23311975.2022.2121237 |
| work_keys_str_mv | AT thuyduongphan cashflowandfinancialdistressofprivatelistedenterprisesonthevietnamstockmarketaquantileregressionapproach AT thithanhhoang cashflowandfinancialdistressofprivatelistedenterprisesonthevietnamstockmarketaquantileregressionapproach AT ngocmaitran cashflowandfinancialdistressofprivatelistedenterprisesonthevietnamstockmarketaquantileregressionapproach |