| dc.description.abstract | This paper is intended to observe and investigate the relation between institutional
ownership and firm value in the Vietnamese market, more specifically, the effect of
domestic institutional investors, foreign institutional investors, and their joint impacts on
firm value are addressed in this study. The sample of 266 firms collected and analyzed for
this research are obtained from the Ho Chi Minh Stock Exchange (HOSE) within a
duration of 5 years from 2016 to 2020. With the intention of examining the effect of
institutional ownership on firm value throughout the years, this study is conducted as a
panel data with the implementation of fixed–effects model (FEM) regression. The
outcomes after controlling for variables including financial leverage, return on assets
(ROA), firm size, and investment opportunity, indicate a positive relation between
domestic institutional investors and firm value while foreign institutional investors display
a negative correlation with firm value. The joint contribution of both investors shows
similar patterns with foreign investors as their ownership proportion is much more
substantial. | en_US |
