Tran Khanh Lam
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The value relevance of earnings and book value at Vietnamese listed enterprises
Tran Quoc Thinh , Nguyen Thi Phung , Tran Khanh Lam doi: http://dx.doi.org/10.21511/imfi.20(2).2023.16Investment Management and Financial Innovations Volume 20, 2023 Issue #2 pp. 182-192
Views: 375 Downloads: 150 TO CITE АНОТАЦІЯRelevant value is important for information users to make business decisions, and stock prices have an essential relationship to the value relevance about enterprises. The paper aims to investigate the earnings and book value influences on the value relevance of 144 Vietnamese listed enterprises. Selected data are non-financial enterprises with a wide range of industries to ensure representativeness on the Vietnamese stock market. The research implements stakeholder and signaling theory to explain the hypotheses of the model related to earnings per share and book value per share. Time series data are analyzed for three years from 2018 to 2020. The quantitative method is applied to test hypotheses. The results determine that the fixed effects model is suitable. The results also show that the earnings per share positively affect the stock price, but book value per share has a negative impact on the stock price. The paper provides some policy suggestions for investors to make reasonable decisions using relevant information about listed enterprises in Vietnam.
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Effect of government policy and controller’s connection with relevant parties on information quality of Vietnamese audit firms in the context of COVID-19
Problems and Perspectives in Management Volume 22, 2024 Issue #2 pp. 286-298
Views: 30 Downloads: 2 TO CITE АНОТАЦІЯAccounting information provides the financial state, performance, cash flow, and notes to the enterprise’s financial statements. Information quality plays an essential role for stakeholders in making business decisions. The study examines the impact of government policy and the controller’s connection with relevant parties on the information quality of Vietnamese audit firms in the context of COVID-19. The surveyed subjects include 347 controllers of audit firms in Vietnam. The paper uses quantitative methods, specifically the exploratory factor analysis method, and the ordinary least squares are used to test the model’s hypotheses. Agency and stakeholder theories are used to explain the basis of the study’s theory. The results show that the government policy and the controller’s connection with relevant parties positively affect the information quality of Vietnamese audit firms. The level of correlation between factors is appropriate, between 0.126 and 0.618. Government policy is one of the most influential factors in information quality (0.412). Relevant parties include audit firms, relatives, and the community, and the level of connection between the controller and relatives and the community (0.298) is better than that of audit firms (0.183). The study proposes policies to connect controllers and relevant parties in cooperation and mutual support to ensure strict control activities and improve the information quality of Vietnamese audit firms.