A Study on Firm Performance of Construction Firms Listed in the Hanoi Stock Exchange
1NguyenThi Xuan,
2Nguyen Dieu Linh,
3NguyenThị Thu Thao
1Hanoi Metropolitan University, Vietnam2The faculty of Accounting and Auditing - Banking Academy, Vietnam
3Faculty of Accounting, University of Labor and Social Affairs, Vietnam
https://doi.org/10.47191/jefms/v3-i10-02
ABSTRACT:
Because of the effect of the world economy and national economy, construction firms Listed in the Hanoi Stock Exchange (HNX) are forced to improve firm performance to develop. This paper presents the firm performance of construction firms Listed in the HNX to adopt the evaluation and the measurement three (03) basic financial ratios, including: (i) Fixed asset turnover ratio (FAT), (ii) Total Asset Turnover Ratio (AT) and (iii) Equity turnover (ET). The authors collected secondary data from previous studies, construction firms Listed in the HNX for the period of 2015-2019. The results of the research show that the firm performance of construction firms has many limitations. This study will benefit the construction firms Listed in HNX in the improvement of their performance.
KEYWORDS:
Fixed asset turnover ratio (FAT), (ii) Total Asset Turnover Ratio (AT) and (iii) Equity turnoverratio (ET), construction firms, Finance.
JEL CLASIFICATION:
M40, F65, G30
REFERENCES:
1) Dang, T. A. T.,& Pham, T. D. (2016). The impact of capital structure on the operations of companies listed in the Hanoi Stock Exchange. Banking Science & Training Review, 164&165, 94-102,125.[Vietnamese]
2) Martani, D., Mulyono., Khairurizka, R. (2009). The effect of Financial ratios, firm size and cash flow from operatingactivities in the interim report to the stock return. Chinese Business Review, 8(6), 44-55.
3) Nguyen, T. L. A. (2019). Research on the relationship between financial leverage and value of manufacturing firms in India - Lessons of application for Vietnam.Journal of Indian and Asian Studies, 6, 1-7. [Vietnamese]
4) Nguyen, T. D. (2009). Construction firms listed in Vietnam stock market: Prospects through financial indicators. Journal of finance, 10,28-30. [Vietnamese]
5) NhuXuan,(2020). Construction industry grew more than 9%, how do listed businesses do? Retrieved February 19, 2020; from https://vietstock.vn/2020/02/nganh-xay-dung-tang-truong-hon-9-doanh-nghiep-niem-yet-lam-an-ra-sao-737-731942.htm. [Vietnamese]
6) Notta, O., &Vlachvei, A.(2007). Performance of Cooperatives and Investor-Owned Firms: The Case of the Greek Dairy Industry. Vertical Markets and Cooperative Hierarchies, 275-285. Springer Netherlands.
7) Phan, M. T. (2019). Factors affecting the capital structure of real estate enterprises listed on Ho Chi Minh Stock Exchange (HSX). Industry and Trade manazine11, 419-423.[Vietnamese]
8) Truong,D. L.,&Ngo, M. T. (2016). The impact of equitization on the performance of firms in Vietnam.Journal of Development and Economics, 4, 21-43.[Vietnamese]
9) Vo, V. C. (2017). Factors affect performance of the FDI seafood firms in KhanhHoa province. Journal of Banking Technology, 139, 86-97.[Vietnamese]
10) Vo, X. V., &Doan, T. L. C. (2013). Free cash flow and performance of firms in Vietnam.Journal of Development and Economics, 280,61-67. [Vietnamese]
11) Website: https://finance.vietstock.vn[Vietnamese]
12) Yungchih, W. G. (2010). The impacts of free cash flows and Agency costs on firm Performance.Journal Service Science & Management, 3, 408-418.