Tạp chí Phát triển và Hội nhập, S. 5(15) (2012)

Cỡ chữ:  Nhỏ  Vừa  Lớn

Estimating beta of Vietnam listed construction company groups during the financial crisis 2007-2009

Đinh Trần Ngọc Huy

Tóm tắt

After the financial crisis 2007-2009, the Vietnam stock market, in general, has certain unexpected movements and the Vietnam construction industry, in detail, has to re-evaluate the risk level. First, we use proper traditional model to estimate Equity beta and asset beta of three (3) groups of listed companies in Vietnam construction industry and found out that the values of beta during 2007-2009 acceptable, excluding a few cases.Second, through comparison among three (3) different groups, we find out that there is not large disperse in beta values in these construction firms. Besides, beta values of firms in real estate industry tend to be higher than those in building material and construction industries.Finally, this paper provides both internal and external investors with two risk parameters, Equity and asset beta, indicating investment parameters, as reference in their investment activities, because of a normal concept that riskier investment requyring better ROI. It also gives financial institutions, companies and government more evidence in managing their policies    

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Tạp chí Phát triển và Hội nhập, ISSN: 1859-428X