Cash Holding, State Ownership and Firm Value: The Case of Vietnam
Using a sample of 650 listed firms on the Vietnamese stock exchange over the period 2008 to 2015, we examine the effect of cash holding level on firm value. The results find out the cash holding has an impact on firm value in an inverted U-shaped form. Furthermore, this study investigates whether t...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
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EconJournals
2016-10-01
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| Series: | International Journal of Economics and Financial Issues |
| Online Access: | https://econjournals.com/index.php/ijefi/article/view/3126 |
| _version_ | 1828021127199326208 |
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| author | Do Thi Thanh Nhan Pham Ha |
| author_facet | Do Thi Thanh Nhan Pham Ha |
| author_sort | Do Thi Thanh Nhan |
| collection | DOAJ |
| description |
Using a sample of 650 listed firms on the Vietnamese stock exchange over the period 2008 to 2015, we examine the effect of cash holding level on firm value. The results find out the cash holding has an impact on firm value in an inverted U-shaped form. Furthermore, this study investigates whether the state ownership influences firm value. We point out that there is a statistically insignificant positive relationship between state ownership and firm value unless the state ownership's advantages are utilized. The findings have implications of cash management in state-owned firms.
Keywords: Cash holding, firm value, state ownership, Vietnamese corporations
JEL Classifications: G32, G31, G28
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| first_indexed | 2024-04-10T11:47:29Z |
| format | Article |
| id | doaj.art-b30d578e2c094a8f88276f54d61615a8 |
| institution | Directory Open Access Journal |
| issn | 2146-4138 |
| language | English |
| last_indexed | 2024-04-10T11:47:29Z |
| publishDate | 2016-10-01 |
| publisher | EconJournals |
| record_format | Article |
| series | International Journal of Economics and Financial Issues |
| spelling | doaj.art-b30d578e2c094a8f88276f54d61615a82023-02-15T16:17:16ZengEconJournalsInternational Journal of Economics and Financial Issues2146-41382016-10-0166SCash Holding, State Ownership and Firm Value: The Case of VietnamDo Thi Thanh NhanPham Ha Using a sample of 650 listed firms on the Vietnamese stock exchange over the period 2008 to 2015, we examine the effect of cash holding level on firm value. The results find out the cash holding has an impact on firm value in an inverted U-shaped form. Furthermore, this study investigates whether the state ownership influences firm value. We point out that there is a statistically insignificant positive relationship between state ownership and firm value unless the state ownership's advantages are utilized. The findings have implications of cash management in state-owned firms. Keywords: Cash holding, firm value, state ownership, Vietnamese corporations JEL Classifications: G32, G31, G28 https://econjournals.com/index.php/ijefi/article/view/3126 |
| spellingShingle | Do Thi Thanh Nhan Pham Ha Cash Holding, State Ownership and Firm Value: The Case of Vietnam International Journal of Economics and Financial Issues |
| title | Cash Holding, State Ownership and Firm Value: The Case of Vietnam |
| title_full | Cash Holding, State Ownership and Firm Value: The Case of Vietnam |
| title_fullStr | Cash Holding, State Ownership and Firm Value: The Case of Vietnam |
| title_full_unstemmed | Cash Holding, State Ownership and Firm Value: The Case of Vietnam |
| title_short | Cash Holding, State Ownership and Firm Value: The Case of Vietnam |
| title_sort | cash holding state ownership and firm value the case of vietnam |
| url | https://econjournals.com/index.php/ijefi/article/view/3126 |
| work_keys_str_mv | AT dothithanhnhan cashholdingstateownershipandfirmvaluethecaseofvietnam AT phamha cashholdingstateownershipandfirmvaluethecaseofvietnam |