Oil price and firm profitability: evidence from Vietnamese stock market
Although many prior studies show that oil price affects negatively macroeconomic environment and stock prices, there are few studies on the impact of oil price on firm profitability. This paper posits that oil price tends to affect firm profitability negatively via increases in production costs a...
| Main Authors: | , |
|---|---|
| Format: | Article |
| Language: | Vietnamese |
| Published: |
HDV INSER., JSC
2022-07-01
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| Series: | Tạp chí Quản lý và Kinh tế Quốc tế |
| Subjects: | |
| Online Access: | https://jiem.ftu.edu.vn/index.php/jiem/article/view/41 |
| _version_ | 1818196826511114240 |
|---|---|
| author | Tran Quoc Trung Vo Thi Thien Trang |
| author_facet | Tran Quoc Trung Vo Thi Thien Trang |
| author_sort | Tran Quoc Trung |
| collection | DOAJ |
| description | Although many prior studies show that oil price affects negatively macroeconomic environment
and stock prices, there are few studies on the impact of oil price on firm profitability. This paper
posits that oil price tends to affect firm profitability negatively via increases in production
costs and negative changes in the macroeconomic environment. As a transition economy,
Vietnam has been gradually integrated into the world economy and affected by international
economic shocks. Therefore, Vietnam is a potential laboratory to investigate the effect of oil
price as an exogenous factor on firm profitability. Using a sample of 6,960 observations from
951 firms listed in Ho Chi Minh City Stock Exchange (HOSE) and Hanoi Stock Exchange
(HNX) between 2005 and 2016, we find supporting evidence for the negative impact of oil
price on firm profitability. |
| first_indexed | 2024-12-12T01:40:15Z |
| format | Article |
| id | doaj.art-c47985d43bb341d0849fc7b965a61eb3 |
| institution | Directory Open Access Journal |
| issn | 2615-9848 |
| language | Vietnamese |
| last_indexed | 2024-12-12T01:40:15Z |
| publishDate | 2022-07-01 |
| publisher | HDV INSER., JSC |
| record_format | Article |
| series | Tạp chí Quản lý và Kinh tế Quốc tế |
| spelling | doaj.art-c47985d43bb341d0849fc7b965a61eb32022-12-22T00:42:43ZvieHDV INSER., JSCTạp chí Quản lý và Kinh tế Quốc tế2615-98482022-07-01536441Oil price and firm profitability: evidence from Vietnamese stock marketTran Quoc Trung0Vo Thi Thien Trang1Foreign Trade University, Ho Chi Minh City, VietnamForeign Trade University, Ho Chi Minh City, VietnamAlthough many prior studies show that oil price affects negatively macroeconomic environment and stock prices, there are few studies on the impact of oil price on firm profitability. This paper posits that oil price tends to affect firm profitability negatively via increases in production costs and negative changes in the macroeconomic environment. As a transition economy, Vietnam has been gradually integrated into the world economy and affected by international economic shocks. Therefore, Vietnam is a potential laboratory to investigate the effect of oil price as an exogenous factor on firm profitability. Using a sample of 6,960 observations from 951 firms listed in Ho Chi Minh City Stock Exchange (HOSE) and Hanoi Stock Exchange (HNX) between 2005 and 2016, we find supporting evidence for the negative impact of oil price on firm profitability.https://jiem.ftu.edu.vn/index.php/jiem/article/view/41oil priceprofitabilityvietnam |
| spellingShingle | Tran Quoc Trung Vo Thi Thien Trang Oil price and firm profitability: evidence from Vietnamese stock market Tạp chí Quản lý và Kinh tế Quốc tế oil price profitability vietnam |
| title | Oil price and firm profitability: evidence from Vietnamese stock market |
| title_full | Oil price and firm profitability: evidence from Vietnamese stock market |
| title_fullStr | Oil price and firm profitability: evidence from Vietnamese stock market |
| title_full_unstemmed | Oil price and firm profitability: evidence from Vietnamese stock market |
| title_short | Oil price and firm profitability: evidence from Vietnamese stock market |
| title_sort | oil price and firm profitability evidence from vietnamese stock market |
| topic | oil price profitability vietnam |
| url | https://jiem.ftu.edu.vn/index.php/jiem/article/view/41 |
| work_keys_str_mv | AT tranquoctrung oilpriceandfirmprofitabilityevidencefromvietnamesestockmarket AT vothithientrang oilpriceandfirmprofitabilityevidencefromvietnamesestockmarket |