Advanced
Please use this identifier to cite or link to this item: https://digital.lib.ueh.edu.vn/handle/UEH/55198
Full metadata record
DC FieldValueLanguage
dc.contributor.authorTran Ngoc Tho-
dc.contributor.otherDang Nhu Y-
dc.date.accessioned2017-09-14T11:02:11Z-
dc.date.available2017-09-14T11:02:11Z-
dc.date.issued2016-
dc.identifier.issn1859 -1124-
dc.identifier.urihttp://digital.lib.ueh.edu.vn/handle/UEH/55198-
dc.identifier.urihttp://jabes.ueh.edu.vn/Home/SearchArticle?article_Id=b5031241-32cf-4fe1-b5e9-fc42a9b7aee4-
dc.description.abstractThis paper studies the effects of market liquidity and other factors on investment of non-financial companies listed on Vietnam stock exchange for the 2008–2013 period by adopting different measures of investment and liquidity, and considering the impact of interaction between liquidity and others, including issuing, financial constraints, and growth opportunities, on firm investment. The estimated results of DGMM with fixed effects and interacting variables prove that stock market liquidity negatively relates to the investment. We do not find any compelling evidence of the liquidity–investment nexus among firms with tighter financial constraints and better investment opportunities. However, we do find the relations between firm investment and financial leverage and also firm investment and cash flows.-
dc.formatPortable Document Format (PDF)-
dc.publisherTrường Đại học Kinh tế Tp. Hồ Chí Minh-
dc.relation.ispartofJournal of Economic Development-
dc.relation.ispartofseriesJED, Vol.23(4)-
dc.subjectFirm investment-
dc.subjectLiquidity-
dc.subjectD-GMM-
dc.titleImpact of stock market liquidity on investment of listed enterprises: evidence from Vietnam-
dc.typeJournal Article-
dc.relation.referenceAdmati, A. R., & Pfleiderer, P. (2009). The Wall Streetwalk and shareholder activism: Exit as a form of voice. Review of Finance Studies, 22(7),2645–2685.-
dc.relation.referenceAlmeida, H., Campello, M., & Galvao Jr, A. F. (2010).Measurement errors in investment equations. Reviewof Finance Studies,23(9),3279–3382.-
dc.relation.referenceBanerjee, S., & Kremer, I. (2010). Disagreement andlearning: Dynamic patterns of trade. Journalof Financial, 65(4), 1269–1302.-
dc.relation.referenceButler, A. W., Grullon, G., & Weston, J. P. (2005). Stockmarket liquidity and the cost of issuing equity. Journal of Financial and Quantitative Analysis, 40(2), 331–348.-
dc.relation.referenceEdmans, A., & Manso, G. (2011). Governance throughtrading and intervention: A theory of multiple blockholders. Review of Finance Studies, 24(7),2395–2428.-
dc.relation.referenceFang, V. W., Tian, X., & Tice, S. (2014). Does stock liquidityenhance or impede firm innovation? Journalof Finance, 69(5), 2085–2125.-
dc.relation.referenceGilchrist, S., Himmelberg, C. P., & Huberman, G. (2005).Do stock price bubbles influence corporate investment? Journal of Monetary Economic, 52(2005),805–827.-
dc.relation.referenceLesmond, D. A. (2005). Liquidity of emerging markets. Journal of Financial Economics, 77(2), 411–452.-
dc.relation.referenceMcGahan, A. M., & Porter, M. E. (1997). How much doesindustry matter, really? StrategicManagement Journal, 18(SummerSpecial Issue), 15–30.-
dc.relation.referenceMuñoz, F. (2012). Liquidity and firm investment: Evidence forLatin America. Journal of EmpiricalFinance,20(2013), 18–29.-
dc.relation.referencePolk, C., & Sapienza, P. (2009). The stock market andcorporate investment: A test of catering theory. Review of Finance Studies, 22(1), 188–217.-
dc.relation.referencePorter, M. (1992). Capital disadvantage: America's failingcapital investment system. HarvardBusiness Review,70(5), 65–82.-
dc.relation.referenceSadka, R., & Scherbina, A. (2007). Analyst disagreement,mispricing, and liquidity. Journal ofFinance, 62(5), 2367–2404.-
dc.relation.referenceStein, J. (1988). Takeoverthreats and managerial myopia. Journal ofPolitical Economy,96(1), 61–80.-
dc.relation.referenceStein, J. (1989). Efficient capital market, inefficientfirms: A model of myopic corporate behavior. Quarterly Journal of Economics,104(4),655–669.-
dc.relation.referenceStein, J. (1996). Rational capital budgeting inan irrational world. Journal of Business,69, 429–455.-
dc.identifier.doihttp://doi.org/10.24311/jabes/2016.23.4.08-
dc.format.firstpage80-
dc.format.lastpage96-
item.fulltextOnly abstracts-
item.grantfulltextnone-
item.openairecristypehttp://purl.org/coar/resource_type/c_18cf-
item.cerifentitytypePublications-
item.openairetypeJournal Article-
Appears in Collections:JABES in English
Show simple item record

Google ScholarTM

Check

Altmetric


Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.