Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/317092 
Year of Publication: 
2019
Citation: 
[Journal:] Organizations and Markets in Emerging Economies [ISSN:] 2345-0037 [Volume:] 10 [Issue:] 2 [Year:] 2019 [Pages:] 356-377
Publisher: 
Vilnius University Press, Vilnius
Abstract: 
This study aims to examine the relevance of foreign ownership to stock return volatility in the Vietnam stock market over ten years (2008 - 2017). After applying the fixed effects regressions and the extended instrumental variable regressions with fixed effects, we find that foreign ownership decreases the volatility of stock returns. However, the stabilizing impact of foreign ownership on stock return volatility becomes weaker in large firms since the coeffcient of the interaction term between firm size and foreign ownership turns out to be significantly positive. The estimated results remain robust when we use the future one-year volatility, other than the current one, as an alternative measure of the dependent variable.
Subjects: 
corporate governance
foreign ownership
volatility
firm size
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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