发达经济体、新兴经济体和低收入经济体的不确定性溢出效应与越南企业层面的股票回报:国有制重要吗?

Q1 Economics, Econometrics and Finance
Thanh Huu Phu Nguyen, Ho Hoang Gia Bao, Hoang Phong Le , Ba Hoang Nguyen
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引用次数: 0

摘要

本研究基于公司层面的方法,分析了来自发达经济体、新兴经济体和低收入经济体的经济和政治不确定性对越南股票回报的溢出效应。在控制了公司层面和国家层面的因素并解决了潜在的内质性问题后,我们发现越南发达、新兴和低收入市场的不确定性与股票回报之间存在正相关关系。然而,发达市场和新兴市场的积极溢出效应对国有企业的影响减弱。这些发现在不同的计量经济学规范中仍然是强有力的。因此,这项研究为新兴市场提供了新的经验证据,并为政策制定者和投资者提供了一些实际意义。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
Uncertainty spillovers from advanced, emerging, and low-income economies and firm-level stock returns in Vietnam: Does state ownership matter?
This study analyzes the spillover effects of economic and political uncertainty from advanced, emerging and low-income economies on stock returns in Vietnam based on a firm-level approach. After controlling for firm-level and country-level factors and addressing potential endogeneity issues, we find positive associations between uncertainties in advanced, emerging and low-income markets and stock returns in Vietnam. However, the positive spillover effects from advanced and emerging markets become weaker for state-owned organizations. The findings remain robust across different econometric specifications. The study, therefore, offers novel empirical evidence from an emerging market together with several practical implications for policymakers and investors.
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来源期刊
Journal of Open Innovation: Technology, Market, and Complexity
Journal of Open Innovation: Technology, Market, and Complexity Economics, Econometrics and Finance-Economics, Econometrics and Finance (all)
CiteScore
11.00
自引率
0.00%
发文量
196
审稿时长
1 day
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