JED, Vol. 20, No.3, December 2018, pp. 31-44 | DOI: 10.33301/JED-P-2018-20-03-03
The Determinants of Equitization Success of State-Owned Enterprises in Vietnam
Cao Dinh Kien; Nguyen Thu Thuy
Abstract:This study aims to investigate the factors that affect the success of Vietnam’s State-owned
enterprises’ (SOEs) equitization. Using a unique sample of equitization of unregulated SOEs in
Vietnam from January 2010 to April 2016, we find that age, valuation, and gross margin of the
SOEs are significant determinants of the success of the equitization. Specifically, in contrast with
prior literature, age is found to have a negative impact on the success of the equitization. On the
other hand, valuation and gross margin have a positive impact on the success of the equitization.
Keywords:Equitization; restructuring; state-owned enterprises; economic integration; Vietnam economy
