Abstract
Enterprises listing on the stock market of Vietnam increasingly are facing more constraints and tighter control of the State through the legal documents which have constantly been added and renewed and typically involve the change of regulations on transparency. This change has a multifarious impact not only on the risks and performance of the business but also on the efficiency of the whole market. To assess the impact of the changes in the transparency regulations, the beta data of 328 companies listed on the Hanoi Stock Exchange and the Ho Chi Minh Stock Exchange from 2009 to 2016 was observed, synthesized and analyzed. The results show the increasing number of regular and irregular pieces of publicized information, more timely publication of information, as well as heavier penalties, resulting in a decrease in the equity risks of the listed companies. A clear trend on both stock exchanges is the increasing percentage of businesses with negative beta and the decreasing percentage of businesses with beta greater than one.
Keywords: Equity risks, transparency
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Ban biên tập Tạp chí Kinh tế & Quản trị Kinh doanh
Phòng 514, Nhà điều hành, trường Đại học Kinh tế & Quản trị Kinh doanh
Địa chỉ: Phường Tân Thịnh, thành phố Thái Nguyên
Email: tapchikt-qtkd@tueba.edu.vn; Điện thoại: 0208.3903373
