Friday, 20 November 2015
Journal title: Afro-Asian Journal of Finance and Accounting
(Volume 6, Issue 1)
Author: XUAN VINH VO
Abstract
This paper investigates the relationship between level of foreign ownership in a firm and the liquidity of the firm stock in the Vietnam stock markets. We employ a rich and detailed dataset representing foreign portfolio investment, liquidity and other firm attributes in the Vietnamese context. Our dataset ranges from 2006 to 2012 covering most of non-financial firms listed on Ho Chi Minh City stock exchange. Using a wide number of econometric techniques for panel data analysis, the results from our analysis indicate that increased foreign investment in firms is not associated with higher liquidity. The results also confirm the long term buy and hold strategy of foreign investors in Vietnam stock market.
Link: http://www.inderscienceonline.com/doi/abs/10.1504/AAJFA.2016.074540