文章基本信息

标题：The Measurement of Impacts of External Financing on the Risk Level of Viet Nam Electric Commercial Industry Duringand After The Global Crisis 2007-2011
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作者：Dinh Tran Ngoc Huy
期刊名称：International Journal of Management and Business Studies
印刷版ISSN：2231-2463
电子版ISSN：2230-9519
出版年度：2013
卷号：3
期号：3
出版社：Cosmic Journals
摘要：This paper estimates the impacts of external financing on market risk for th e listed firms in th e Viet nam electric commercial industry, esp. after the financial crisis 2007-2009. First, by using quantitative and analytical methods to estimate asset and equity beta of total 18 listed companies in Viet Nam electric commercial industry with a proper traditional model, we found out that the beta values, in general, for many institutions are acceptable.Second, under 3 different scenarios of changing leverage (in 2011 financial reports, 30% up and 20% down), we recognized that the risk level, measured by equity and asset beta mean, decreases when leverage increases to 30% and vice versa.Third, by changing leverage in 3 scenarios, we recognized the dispersion of risk level increases (measured by equity beta var) if the leverage decreases down to 20%.Finally, this paper provides some outcomes that could provide companies and government more evidence in establishing their policies in governance
关键词：Equity Beta; Financial Structure; Financial Crisis; Risk; External ;Financing