The effects of information disclosure regulation on stock markets: Evidence from Vietnam

Hoang, Trang Cam; Pham, Huy; Ramiah, Vikash; Moosa, Imad A.; Le, Danh Vinh

doi:10.1016/j.ribaf.2019.101082

Cited by 10 publications

(7 citation statements)

References 30 publications

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“…Since our research is conducted on a comparative basis, even partial effects will do. Recently, [41] examined the effects of information disclosure announcements on the Vietnam stock exchange by modifying the event methodology proposed by [42] and found statistically significant results around these events. To this extent, we follow [41] to examine the effects of ten key events around the EVFTA on the Vietnam stock market.…”

Section: Plos Onementioning

confidence: 99%

The effects of free trade agreements on the stock market: Evidence from Vietnam

Pham,

Mudalige,

et al. 2024

PLoS ONE

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This study examines the effects of news events related to the European Union-Vietnam Free Trade Agreement (EVFTA) on the Vietnam stock market from 2010 to 2020. We calculate sectoral abnormal returns prior to, during, and after announcements and find that the Vietnamese stock market is susceptible to these events. We discovered that the announcement had a negative impact on the market, which might diminish the effectiveness of the Agreement. The findings show that more than half of Vietnam’s sectors had an immediate reaction to EVFTA announcements, with fourteen reacting negatively and six responding positively. Two of the ten events did not have any immediate impact on these industries but all events resulted in either early or delayed reactions. We also find market scepticism and major changes in the deal led to the emergence of a diamond risk structure. We run multiple robustness tests to account for market integration and other factors that may affect stock returns. In addition, we explore potential sectoral systematic risk changes following these occurrences using different ARCH-type models. These additional tests confirm the robustness of our findings.

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Section: Plos Onementioning

confidence: 99%

The effects of free trade agreements on the stock market: Evidence from Vietnam

Pham,

Mudalige,

et al. 2024

PLoS ONE

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“…Impact of information disclosure system reform. Disclosure regulations are tools used by the government to monitor the market and need to be revised regularly to adapt to market changes (Hoang et al 2020). In recent years, the academic literature has begun studying the economic consequences of regulatory announcements.…”

Section: Institutional Background and Literature Reviewmentioning

confidence: 99%

Can Reform of Information Disclosure by an Exchange Restrain Corporate Fraud? Evidence from China*

Wang¹,

Zhao²,

Zhang³

2022

Asia-Pac J of Fin Stud

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This study examines the impact of information disclosure system reform (IDSR) on corporate fraud. IDSR includes the internet-based communication platforms and the introduction of assessment methods for information disclosure. The study finds that reform in the Shenzhen Stock Exchange (SZSE) reduces the probability, frequency, and severity of corporate fraud. In contrast, the reform in the Shanghai Stock Exchange (SSE) has no such effect. The negative association between the SZSE reform and corporate fraud is more evident for firms with weak internal controls and modified audit opinions. This study suggests disclosing companies' ranking in information disclosure assessments to the public to improve governance.

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“…Similar studies also have used various types of information as an event and check the behavior of financial institutions and stock returns around this event. Hoang et al (2020) took the announcement on information disclosure regulation as an event in the Vietnam stock market to examine the reaction of the stock returns. They documented that returns remained negative before the announcement on information disclosure regulation and became positive after the event.…”

Section: Literature Reviewmentioning

confidence: 99%

Event Analysis of the COVID-19: Evidence from the Stock Markets of Twenty Highly Infected Countries

2021

JEM

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The effects of information disclosure regulation on stock markets: Evidence from Vietnam

Cited by 10 publications

References 30 publications

The effects of free trade agreements on the stock market: Evidence from Vietnam

The effects of free trade agreements on the stock market: Evidence from Vietnam

Can Reform of Information Disclosure by an Exchange Restrain Corporate Fraud? Evidence from China*

Event Analysis of the COVID-19: Evidence from the Stock Markets of Twenty Highly Infected Countries

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