The paper analyzed the impact of earnings quality (EQ), debt maturity, investment efficiency (IE) of listed companies on Vietnam stock market thanks to the regression methods of FEM, REM and GLS and data of enterprises in the period of 2010 - 2018. The research findings have shown that EQ and debt maturity have a positive impact on EI, in which EQ has a stronger influence than debt maturity. A review of both EQ and the debt maturity for overinvestment or underinvestment indicated a positive impact and the stronger impact on overinvestment. Based on the research findings, the authors have put forth several recommendations for investors, businesses and policy makers.

pandemic is affecting the health of the public, and it is also impacting business and economy. The main objective of this paper is to investigate the impact of Covid-19 pandemic on listed firms' performance and the abnormal stock returns in Vietnam. To study the impact of Covid-19 on firms' performance, we collected data about announced earnings on Q1/2020 and Q4/2019 of 714 enterprises and made comparison. The results revealed the enormous impacts of Covid-19 pandemic on the business performance. However, the level of influence varies among sectors. To study the impact of Covid-19 on the abnormal stock returns, the study employed the event research method with 3 events related to Covid-19 pandemic in Vietnam. A sample of 364 companies listed on Ho Chi Minh Stock Exchange (HOSE) was utilized. The findings revealed that the Covid-19 event affects the abnormal returns of stocks and the level of influence varied from each stage of Covid-19 prevention measure in Vietnam. The degrees of influence of the Covid-19 event on each stock were also different. The paper concluded that Covid-19 pandemic information can be used to predict stocks' prices.

The paper examines the impact of debt structure (DS) on the earnings quality (EQ) of energy businesses (DN) in Vietnam. The authors measure EQ in terms of profit management to consider the effect of accounts payable; short-term debts and loans; long-term debts and loans on EQ. The research uses generalized least squares regression method with data gathered from 468 observations collected at energy enterprises listed on the stock market in Vietnam in the period of 2009-2018. The study results have found that accounts payable to suppliers and short-term debts and loans have negative effect on EQ; while long-term debts and loans have positive effect on EQ. Besides, firm size has a positive effect on EQ, while profitability is a not statistically significant variable. The empirical research results are useful basis to help businesses improve their EQ, thereby helping businesses to consider an appropriate level of DS.

The paper examines the impact of corporate governance (CG), capital structure (CS) on firm value (FV) of firms in Vietnam. The study used different regression methods using the data collected at enterprises listed on the stock market in Vietnam over the period 2008-2018, with 2937 observations. The research results find that the size of the Board of Directors, the independence of the Board of Directors, the percentage of women participating in the Board of Directors had a positive influence on FV. Besides, in the case of the Chairman of the Board of Directors controlling the CEO, the frequency of the Board meeting had a negative effect on FV. The study has determined that CS has nonlinear influence on FV, in addition, the research results also prove that firm size had positive relationship to FV. The empirical research results are a useful basis to help businesses improve FV, thereby helping businesses need to consider the elements of the Board of Directors in each enterprise, determine the appropriate capital structure.

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This paper examines the impact of earnings quality (EQ) on stock returns of listed companies on the Vietnam stock market using the generalized least squares (GLS) regression method and data at enterprises in the period of 2010-2018. The research has comprehensively measured EQ from various aspects. The findings have shown that EQ measured from such aspects of profit management, persistence, smoothness, variability, the value relevance of information, and timeliness that are positively related to stock return. Meanwhile, EQ, when being viewed from the aspect of accruals quality, has a negative impact on stock returns. In addition, we also consider that there is a negative impact on stock return, but when taking into account small-scale enterprises, it reveals that the scale has a negative effect on stock return but of no statistical significance. Based on the findings, the authors have put forth some recommendations for investors, businesses, and policymakers.

This paper examined the impact of working capital management (WCM) on corporate performance (CP) in Vietnam. We considered whether there exists an optimal cash conversion cycle (CCC), an optimal net trade cycle (NTC) and how WCM affects CP. We also considered the effect of WCM on CP under financial constraints. This research uses the GLS regression method with research data from listed companies on Vietnam's stock market from 2009 to 2018, with 5383 business observations in ten years. Initially, this study discovered that CCC and NTC were statistically significant and inversely related to corporate performance (measured by ROA and Tobin's q). However, when continuing to use quadratic functions to analyze data, the study discovered that optimal CCC and NTC have not a linear but an inverted U shape instead. Research results have determined the level of optimal CCC, and NTC affecting CP (measured by ROA); though it was not meaningful when CP is measured by Tobin's q. WCM was also considered in the case of companies with limited financial conditions. Contribution/ Originality: This study fully and comprehensively examines the impact of working capital management through CCC and NTC on corporate performance. This study was carried out by collecting data from listed companies on Vietnam's stock market, which is an emerging economy that can demonstrate the optimal threshold of both CCC and NTC's impact on CP.

Cash management plays an important role in the business operations. However, holding too much cash results in unnecessary expenses such as opportunity costs, management costs, and representation costs due to negative cash holdings. This study examines the sensitivity of cash flows to cash holdings. The paper uses regression methods for table data, including FEM, REM, GLS, and GMM regression, with a research dataset including non-financial companies listed on Vietnam’s stock market in the period 2008–2018. Empirical results show that cash flows are positively associated with cash holdings levels. At the same time, research has shown an asymmetry in cash flows sensitivity to cash holdings. The study also classified the companies with limited and no financial restrictions. In the Vietnamese context, compared to unrestricted companies, financially restricted companies have a lower cash flows sensitivity. The research results are the basis for enterprises to manage cash better and increase business efficiency in the future.