Tác động của giao dịch nhà đầu tư nước ngoài đến thị trường chứng khoán Việt Nam

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Tác giả: Tiến Sĩ Cao, Kim Anh Nguyễn

Ngôn ngữ: vie

Ký hiệu phân loại: 378.597 Higher education

Thông tin xuất bản: Khoa học (Đại học An Giang), 2017

Mô tả vật lý: 62-75

Bộ sưu tập: Metadata

ID: 537389

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Nghiên cứu sử dụng mô hình hồi quy với dữ liệu chuỗi thời gian để đánh giá tác động của giao dịch nhà đầu tư nước ngoài đến thị trường chứng khoán Việt Nam. Nghiên cứu tiến hành khảo sát giá trị và khối lượng giao dịch của nhà đầu tư nước ngoài, giá trị khối lượng giao dịch toàn thị trường và chỉ số giá chứng khoán Vn Index với tần suất ngày trong khoảng thời gian từ tháng 9/2014 đến tháng 10/2016. Trong đó, Nghị định 60 của Chính phủ về việc nâng tỷ lệ sở hữu của đối tượng này vượt mức 49% có hiệu lực từ ngày 3/9/2015 cũng được nhóm tác giả đưa vào để đánh giá tác động đến giao dịch của nhà đầu tư nước ngoài. Kết quả nghiên cứu cho thấy, có mối quan hệ một chiều và tác động của chỉ số VN Index đến giá trị giao dịch mua và bán của nhà đầu tư nước ngoài trên sàn giao dịch chứng khoán TP Hồ Chí Minh. Bên cạnh đó, nghiên cứu còn cho thấy giao dịch của nhà đầu tư nước ngoài chưa thực sự tác động và là chỉ báo cho các nhà đầu tư trong nước cũng như Nghị định 60 của Chính phủ chưa thu hút sự tham gia của nhà đầu tư nước ngoài thông qua sàn chứng khoán trong khoảng thời gian nghiên cứu. Nghiên cứu đưa ra đề xuất: mở rộng tỷ lệ sở hữu nước ngoài
nâng cao hơn nữa tính minh bạch và công bố thông tin trên thị trường chứng khoán.Research using regression model with time series data to assess the impact of foreign investor transactions on Vietnam stock market. Researching and surveying the value and trading volume of foreign investors, the value of the total trading volume of the market and the stock price index of Vn Index with the daily frequency in the period from September 2014 by October 2016. In particular, the Government Decree 60 on raising the ownership rate of this object to exceed 49% effective from September 3, 2015 was also included by the authors to assess the impact on the transaction of foreign investor. Research results show that there is a one-way relationship and the impact of the VN Index on the value of buying and selling transactions of foreign investors on the Ho Chi Minh City Stock Exchange. Besides, the study also showed that the transaction of foreign investors has not really impacted and is an indicator for domestic investors as well as the Government's Decree 60 which has not attracted the participation of investors. Foreign investment through the stock market during the study period. The study proposes: expanding foreign ownership rates
further improve transparency and disclosure on the stock market.

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