Academy of Accounting and Financial Studies Journal (Print ISSN: 1096-3685; Online ISSN: 1528-2635)

Abstract

Key Factors Affecting the Stock Price of Enterprises Listed On Ho Chi Minh Stock Exchange

Author(s): Nguyen Khac Hung, Giang Quoc Tuan, Duong Thi Mai Phuong, Le Dinh Thang, Nguyen Anh Hien

In Vietnam, the changing of macroeconomic policies often happens suddenly, this is affecting the psychology of investors, the stock market and the general activities of the economy. Therefore, the objective of the paper is to analyze factors, which are affecting stock price of companies listed on the Ho Chi Minh Stock Exchange (HOSE). This paper has an important role for the development of the stock market in order to provide more empirical evidence on this issue. This is also a basis to contribute to regulators, enterprises, investors and researchers to have a more comprehensive view of stock price movements in Vietnam. Besides, the identification of factors affecting stock prices creates the basic information for investors to make the most appropriate and optimal investment decisions. The data collected from the financial statements of 100 companies listed on the HOSE from 2015 to 2018. Based on linear regression results, there were five factors affecting stock price with significance level of 1.0%. Five factors including: Earnings per share, exchange rate, interest rate, gold price and inflation rate. Through the research results, the authors hope the paper will be a valuable reference for investors, managers and companies listed on the HOSE.