| dc.description.abstract | This study investigates the relationship between global economic policy
uncertainty and corporate investment efficiency in Vietnam, as well as the moderating
influence of state ownership. From 2010 to 2022, there are a total of 5344 firm-year
observations of 658 non-financial firms listed on the Ho Chi Minh Stock Exchange and
Hanoi Stock Exchange. In this research, the sample of data is analyzed using the Fixed
Effect Method (FEM) which is chosen as the best model in this study based on F-test,
LM test, and Hausman test. The results indicate that an increase in global economic
policy uncertainty leads to a rise in the investment efficiency of Vietnamese firms. This
is the new finding for Vietnam compared to findings for other countries in prior studies.
In addition, when there is uncertainty about the global economic policy, the investment
efficiency of state-owned firms does not tend to be significantly different from that of
non-state-owned enterprises. For other firm-specific factors that may affect corporate
investment efficiency, the results suggest that age has a statistically positive effect on
investment efficiency, whereas size, leverage, and profitability are found to have a
significantly negative impact on corporate invesment efficiency. | en_US |
