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Please use this identifier to cite or link to this item: https://digital.lib.ueh.edu.vn/handle/UEH/59280
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dc.contributor.authorThoa T. K. Tu-
dc.contributor.otherUyen T. U. Nguyen-
dc.date.accessioned2019-09-10T04:14:22Z-
dc.date.available2019-09-10T04:14:22Z-
dc.date.issued2019-
dc.identifier.issn1540-496X (Print), 1558-0938 (Online)-
dc.identifier.urihttp://digital.lib.ueh.edu.vn/handle/UEH/59280-
dc.description.abstractThe article examines the effect of state ownership on the relationship between investment and cash flow in Vietnam, a small transitional economy. Using a sample of companies listed on Vietnam’s stock exchanges, we find that the investment–cash flow relation for both state-owned and non-state-owned firms is U-shaped. In addition, state-owned companies have higher cash flow sensitivity of investment, which perhaps is due to their socioeconomic and political responsibilities, poor corporate governance, and agency problem. Moreover, the investment of high-growth companies, both with and without state ownership, has lower dependence on internal cash flow. Additionally, low-growth state-owned companies have higher cash flow sensitivity of investment than those without state ownership, suggesting inefficient investment by the former.en
dc.formatPortable Document Format (PDF)-
dc.language.isoeng-
dc.publisherTaylor and Francis Group-
dc.relation.ispartofEmerging Markets Finance and Trade-
dc.relation.ispartofseriesVol. 57, Issue 1-
dc.rightsInforma UK Limited-
dc.subjectRelationship between investment and cash flowen
dc.subjectState ownershipen
dc.subjectVietnamen
dc.subjectJEL: G30en
dc.subjectG31en
dc.subjectG32en
dc.titleState ownership and the relationship between investment and cash flow: the case of Vietnamese listed firmsen
dc.typeJournal Articleen
dc.identifier.doihttps://doi.org/10.1080/1540496X.2019.1610874-
dc.format.firstpage175-
dc.format.lastpage197-
ueh.JournalRankingISI-
item.grantfulltextnone-
item.openairetypeJournal Article-
item.cerifentitytypePublications-
item.openairecristypehttp://purl.org/coar/resource_type/c_18cf-
item.fulltextOnly abstracts-
item.languageiso639-1en-
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