Journal of Applied Finance & Banking

Impacts of Macroeconomic News on Vietnamese SOEs' Performance

  • Pdf Icon [ Download ]
  • Times downloaded: 1751
  • Abstract

    This paper examines impacts of macroeconomic news on Vietnamese state-owned enterprisesí (SOEs) performance. Macroeconomic news variables are based on changes in GDP, interest rate, and inflation, respectively. We consider Vietnamese non-financial listed firms, and panel data regression is proposed. Our results show that interest rate is found to be significantly negative associated with firm performance but changes in GDP and firm performance are positively related. Additionally, due to socialist market economy reforms, we further show that SOEs are still dominant influence in firm performance. No evidence of effects of taxation on firm performance after a series of deregulation of taxation is detected. Therefore, our findings offer valuable insights on macroeconomic news and firm performance.

    JEL classification numbers: D22, E31, G34, C33
    Keywords: macroeconomic news, firm performance, Vietnamese SOEs, panel data regression