Stock liquidity and ownership structure during and after the 2008 Global Financial Crisis: Empirical evidence from an emerging market

Market liquidity and capital structure: Does it really matter for Vietnam’s family ownership?

“…family ownership in Vietnam's context. This contribution, exclusively for the capital structure, is totally significant and profoundly different from all previous studies of determinants of capital structure in the Vietnam market(Dang et al, 2019;Moussa & Elgiziry, 2019); D.Nguyen et al (2012);(Thanh & Mai, 2017;Tran et al, 2018;X. V. Vo, 2017).…”

“…It is worth that this study can be one of the first of its kind in current literature analyzing the interaction effect of stock liquidity and the family's ownership on capital structure, especially for the ASEAN region. In addition, this paper, exclusively for the capital structure, is profoundly different from all previous studies of determinants of capital structure in Vietnam's market (Dang, Ly Ho, Dzung Lam, Thao Tran, & Vo, 2019;Moussa & Elgiziry, 2019;Thanh & Mai, 2017;Tran, Hoang, & Tran, 2018) where it employed several measurements of three types of market liquidity, two proxies of leverage, and various dimensions of family controls to secure the results and robustness to robust results for the analysis. Lastly, the panel data sample's potential bias will be solved efficiently by using a new modern technique of panel quantile regression.…”

“…structure in the Vietnam market(Dang et al, 2019;Moussa & Elgiziry, 2019); D.Nguyen et al (2012);(Thanh & Mai, 2017;Tran et al, 2018;X. V. Vo, 2017).…”

How do equity markets react to COVID-19? Evidence from emerging and developed countries

“… Berkmen, Gelos, Rennhack, and Walsh (2012) find that the 2007 financial crisis affected emerging markets through financial channels. Tran et al (2018) find that the ownership structure influences the impact of 2007 crisis on Vietnam's stock markets.…”

“…Furthermore, the capital markets in emerging countries generally have lower liquidity and more significant information asymmetry than the developed markets ( Bhagat, Malhotra, & Zhu, 2011 ; ElBannan, 2017 ; Khanna, Palepu, & Sinha, 2005 ). Therefore, any unexpected global economic shockwave to the emerging markets significantly increases the uncertainties and adversely affects their financial markets ( Tran, Hoang, & Tran, 2018 ).…”