Title: | How does the stock market value bank diversification? Evidence from Vietnam |
Author(s): | Xuan Vinh Vo |
Keywords: | Bank diversification; Valuation; Vietnam |
Abstract: | Even though commercial banks have gradually followed the diversification strategy and deeply penetrated into non-traditional businesses for further income sources, studies on potential diversification benefits provide mixed results. This paper investigates how stock market values bank diversification using a data set of Vietnamese listed banks for the period 2006–2014. Overall, we find a negative relationship between bank diversification and stock market valuation. This implies investor preference for banks focusing on traditional activities. |
Issue Date: | 2017 |
Publisher: | Elsevier |
Series/Report no.: | Vol. 22 |
URI: | http://digital.lib.ueh.edu.vn/handle/UEH/56197 |
DOI: | https://doi.org/10.1016/j.frl.2017.06.005 |
ISSN: | 1544-6123 |
Appears in Collections: | INTERNATIONAL PUBLICATIONS
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