Issue: Số 17 - Tháng 8- 2023Tài chính - Ngân hàng - Bảo hiểm
Improving the Corporate Value of Non-Financial Companies in Vietnam's Stock Market
Published: July 29, 2026
Abstract
The main goal of a company is to increase its corporate value, namely maximizing shareholders' wealth, which is reflected in a higher share price. Therefore, in this study, corporate value is measured by the price-to-book value (PBV) ratio. The study examines the determinants of corporate value, including return on assets (ROA), institutional ownership, the number of independent board members, leverage, and firm size.
The study analyzes data collected from 16 non-financial companies listed on Vietnam's stock market over the period from 2019 to 2022. Multiple regression analysis with a significance level of 0.05 is employed to test the research hypotheses. The findings indicate that profitability is the only factor that does not have a statistically significant impact on corporate value.
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