Issue: Số 3 - Tháng 2 - 2023Tài chính - Ngân hàng - Bảo hiểm
The determinants of stock prices of listed consumer goods companies in Vietnam
Published: July 22, 2026
Abstract
This study is to identify the determinants of stock prices of listed consumer goods companies in Vietnam. Panel data derived from the audited annual reports and financial statements from 2017 to 2021 of 43 listed consumer goods companies in Vietnam is analyzed by using OLS, FEM, REM models, and POLS (robust) is used to correct model defects. The results show that the revenue growth, interest rate, Return on Equity ratio and financial structure all affect the stock price of studied companies.
Adaramola & Anthony, O. (2011). “The Impact of Macroeconomic Indicators on Stock Prices in Nigeria”. Developing Country Studies, 1(2), 1-14.
2.
Doan, N. T. T. (2011). “Ảnh hưởng của thông tin kế toán và các chỉ số tài chính đến giá cổ phiếu trên thị trường chứng khoán Việt Nam”. Tạp chí Công nghệ ngân hàng, 62, 23-27.
3.
Eugene, F. (1970). “Efficient Capital Markets: A Review of Theory and Empirical Work”. The Journal of Finance, 25(2), 383-417.
4.
Fatmawati, S., Nurul, A., Titiek, A. & Bambang, W. (2021). “The Effects of Profitability and Solvability on Stock Prices: Empirical Evidence from Indonesia”. Journal of Asian Finance, Economics and Business, 8(3), 885-894.
5.
Gujarati, D. (2003). Basic Econometrics (4th ed), New York: McGraw-Hill.
6.
Heny, H., Harjum, M., Wisnu, M. & Robiyanto, R. (2019). “Determinants of the Stock Price Volatility in the Indonesian Manufacturing Sector”. International Research Journal of Business Studies, 11(3), 179-183.
7.
Jawad, K. & Imran, K. (2018). “The Impact of Macroeconomic Variables on Stock Prices: A Case Study of Karachi Stock Exchange”. Journal of Economics and Sustainable Development, 9(13), 15-25.
8.
Maurice, K. (1953). “The Analysis of Economic Time-Series”. Journal of the Royal Statistical Society, 116(1), 11-34.
9.
Nguyễn Ngọc Thức, Bùi Ngọc Toàn và Hoàng Như Anh (2018). “Các yếu tố tác động đến giá cổ phiếu trên thị trường chứng khoán Việt Nam”. Tạp chí Tài chính.
10.
Nursiam & Vicky, R. (2019). “The Effect of Company Size, Sales Growth, Current Ratio, Net Profit Margin and Return on Equity on Stock Prices”. Manajemen Bisnis, 9(1), 13-21.