Dinh Tran Ngoc Huy
MBA, University of Economics and Finance (UEF)
GSIM, International University of Japan, Japan
MBA, University of Economics and Finance (UEF)
GSIM, International University of Japan, Japan
After the financial
crisis 2007-2009, the Vietnam stock market, in general, has certain unexpected
movements and the Vietnam construction industry, in detail, has to re-evaluate
the risk level. First, we use proper traditional model to estimate Equity beta
and asset beta of three (3) groups of listed companies in Vietnam construction
industry and found out that the values of beta during 2007-2009 acceptable,
excluding a few cases.Second, through comparison among three (3) different
groups, we find out that there is not large disperse in beta values in these
construction firms. Besides, beta values of firms in real estate industry tend to
be higher than those in building material and construction industries.Finally,
this paper provides both internal and external investors with two risk
parameters, Equity and asset beta, indicating investment parameters, as
reference in their investment activities, because of a normal concept that
riskier investment requyring better ROI. It also gives financial institutions,
companies and government more evidence in managing their policies.
