The Summarized Evaluation of The US and Latin America Corporate Governance Standards After Financial Crisis, Corporate Scandals and Manipulation

There are many analytical papers and researches done in the field of examining and analyzing consequences of the Sarbanes Oxley Act (2002) and some done in the corporate governance in some Latin American countries. This paper chooses a different approach. First, it selects The US, Brazil and Chile, which represents for Latin American countries, as three (3) American countries to analyze their best suitable policies and corporate governance practices, in consideration of factors after crisis and scandals. Second, it aims to build a selected comparative set of standards for corporate governance system in the US and representative Latin American countries. Last but not least, this paper illustrates corporate governance standards that it might give proper recommendations to relevant governments and institutions in re-evaluating their current ones.corporate governance standards, board structure, code of best practice, financial crisis, corporate scandals, market manipulation, internal audit

A Set of Limited Asian Pacific Corporate Governance Standards After Financial Crisis, Corporate Scandals and Manipulation

Up to now there are some researches done in the field of giving a framework of implementation of corporate governance standards after corporate scandals, negative market manipulation during the post-crisis periods. This paper mainly concentrates on empirical research for findings in this field. First, it comes up with four (4) groups of findings on corporate governance subjects in the post-crisis and post-scandal time. It found out that companies in these periods have certain corporate governance issues such as how to better organize an information disclosure system. Second, it compared and identified differences in current and latest corporate governance standard system in four (4) countries in Asian Pacific region: Japan, Australia, Philippines and Korea. Third, this paper provide with a short summary of evaluation of current corporate governance principles in these four countries which can enable corporations to seek and to compare to their current codes. Last but not least, it aims to realize a limited general set of standards of Asian Pacific corporate governance and give proper recommendations to relevant governments and organizations.Corporate governance structure, CEO, Chair, principles, Board of Directors, Compliance, Internal audit

The Measurement of the Volatility of Market Risk of Viet Nam Insurance Industry after the Low Inflation Period 2015-2017

Insurance industry in Viet Nam has been growing much, achieving more market share and contributing quite a lot for the economic growth  in recent years. This paper measures the volatility of market risk in Viet Nam insurance industry after this period (2015-2017). The main reason is the necessary role of the insurance company system in Vietnam in the economic development and growth in recent years always go with risk potential and risk control policies. This research paper aims to figure out how much increase or decrease in the market risk of Vietnam insurance firms during the post-low inflation environment 2015-2017. First, by using quantitative combined with comparative data analysis method, we find out the risk level measured by equity beta mean in the insurance industry is acceptable, as it is little lower than (<) 1. Then, one of its major findings is the comparison between risk level of insurance industry during the financial crisis 2007-2009 compared to those in the post-low inflation time 2015-2017. In fact, the research findings show us market risk level during the post-low inflation time has increased much. Last but not least, comparing the market risk level in three (3) financial industries: insurance, stock and banking groups, we figure out that the risk level, measured by equity beta mean, in the insurance industry is still lower than that of banking industry, whereas the risk dispersion, measured by equity beta var, int he insurance industry is the highest among three groups. Finally, this paper provides some ideas that could provide companies and government more evidence in establishing their policies in governance. This is the complex task but the research results shows us warning that the market risk might be higher during the post-low inflation period 2015-2017. And our conclusion part will recommends some policies and plans to deal with it. Research paper Keywords: Risk management; Asset beta; Market risk; Financial crisis; Insurance industry; Macro policy Reference to this paper should be made as follows: Ngoc Huy, D. T. (2019). The Measurement of the Volatility of Market Risk of Viet Nam Insurance Industry after the Low Inflation Period 2015-2017, Journal of Entrepreneurship, Business and Economics, 7(1), 153–173

Selecting Various Industrial Competitors Affect The Risk Level of Viet Nam Manufacturing Material Industry During and After The Global Crisis 2007-2009

Using a one factor model, this paperwork estimates the impacts of the size of firms’ competitors in the manufacturing material industry on the market risk level, measured by equity and asset beta, of 99 listed companies in this category. This study identified that the risk dispersion level in this sample study could be minimized in case the competitor size doubles (measured by equity beta var of 0,293). Beside, the empirical research findings show us that asset beta max value increases from 1,162 to 1,445 when the size of competitor doubles. Last but not least, most of beta values are acceptable ex-cept a few exceptional cases. Ultimately, this paper illustrates calculated results that might give prop-er recommendations to relevant governments and institutions in re-evaluating their policies during and after the financial crisis 2007-2011. Research paper Reference to this paper should be made as follows: Huy. D. T. N. (2016). “Selecting Various Indus-trial Competitors Affect The Risk Level of Viet Nam Manufacturing Material Industry During and After The Global Crisis 2007-2009”, Journal of Entrepreneurship, Business and Economics, Vol. 4, No. 1, pp. 108–127

The risk level of Viet Nam human resource and medical equipment industry under financial leverage during and after the global crisis 2009-2011

This paperwork evaluates the impacts of external financing on market risk for the listed firms in the Viet nam HR and medical equipment industry, esp. during and after the financial crisis 2009-2011. First of all, by using quantitative and analytical methods to estimate asset and equity beta of total 6 listed companies in Viet Nam HR and medical equipment industry with a proper traditional model, we found out that the beta values, in general, for many institutions are acceptable. Second, under 3 different scenarios of changing leverage (in 2011 financial reports, 30% up and 20% down), we recognized that the risk level, measured by equity and asset beta mean, decreases when leverage increases to 30% but increases more if leverage decreases down to 20%. Third, by changing leverage in 3 scenarios, we recognized the dispersion of risk level, measured by equity beta var, decreases from 0,404 to 0,387 if the leverage increases to 30% whereas decreases to 0,388 if leverage decreases to 20%. But the dispersion measured by asset beta var decreases to 0,138 (leverage down 20%), showing leverage impact. Finally, this paper provides some outcomes that could provide companies and government more evidence in establishing their policies in governance

The Measurement of the Volatility of Market Risk of Viet Nam Insurance Industry after the Low Inflation Period 2015-2017

Insurance industry in Viet Nam has been growing much, achieving more market share and contributing quite a lot for the economic growth  in recent years. This paper measures the volatility of market risk in Viet Nam insurance industry after this period (2015-2017). The main reason is the necessary role of the insurance company system in Vietnam in the economic development and growth in recent years always go with risk potential and risk control policies. This research paper aims to figure out how much increase or decrease in the market risk of Vietnam insurance firms during the post-low inflation environment 2015-2017. First, by using quantitative combined with comparative data analysis method, we find out the risk level measured by equity beta mean in the insurance industry is acceptable, as it is little lower than (<) 1. Then, one of its major findings is the comparison between risk level of insurance industry during the financial crisis 2007-2009 compared to those in the post-low inflation time 2015-2017. In fact, the research findings show us market risk level during the post-low inflation time has increased much. Last but not least, comparing the market risk level in three (3) financial industries: insurance, stock and banking groups, we figure out that the risk level, measured by equity beta mean, in the insurance industry is still lower than that of banking industry, whereas the risk dispersion, measured by equity beta var, int he insurance industry is the highest among three groups. Finally, this paper provides some ideas that could provide companies and government more evidence in establishing their policies in governance. This is the complex task but the research results shows us warning that the market risk might be higher during the post-low inflation period 2015-2017. And our conclusion part will recommends some policies and plans to deal with it. Research paper Keywords: Risk management; Asset beta; Market risk; Financial crisis; Insurance industry; Macro policy Reference to this paper should be made as follows: Ngoc Huy, D. T. (2019). The Measurement of the Volatility of Market Risk of Viet Nam Insurance Industry after the Low Inflation Period 2015-2017, Journal of Entrepreneurship, Business and Economics, 7(1), 153–173

Risk Level of Viet Nam Real Estate Industry Under Financial Leverage During and After the Global Crisis 2007-2009

After the financial crisis 2007-2009, this paper evaluates the impacts of external financing on market risk for the listed firms in the Viet nam real estate industry. First, by using quantitative and analytical methods to estimate asset and equity beta of total 45 listed companies in Viet Nam real estate industry with a proper traditional model, we found out that the beta values, in general, for many institutions are acceptable.Second, under 3 different scenarios of changing leverage (in 2011 financial reports, 30% up and 20% down), we recognized that the risk level, measured by equity and asset beta mean, decreases (0,348) when leverage increases to 30% and it increases (0,385) if leverage decreases down to 20%.Third, by changing leverage in 3 scenarios, we recognized the dispersion of risk level, measured by equity beta var, increases if the leverage increases to 30%. And the asset beta var value is quite small, showing leverage efficiency.Finally, this paper provides some outcomes that could provide companies and government more evidence in establishing their policies in governance. Keywords: equity beta, financial structure, financial crisis, risk, external financing, real estate industry JEL CLASSIFICATION : G010, G100, G39

Tax Rates Effects on the Risk Level of Listed Viet Nam Wholesale and Retail Firms during Global Economic Crisis 2007-2009

The emerging stock market in Viet Nam has been developed since 2006 and was affected by the financial crisis  2007-2009. This study analyzes the impacts of tax policy on market risk for the listed firms in the wholesale  and retail industry as it becomes necessary. First, by using quantitative and analytical methods to estimate asset and equity beta of total 9 listed companies in Viet Nam wholesale and retail industry with a proper  traditional model, we found out that the beta values, in general, for many institutions are acceptable. Second, under 3 different scenarios of changing tax rates (20%, 25% and 28%), we recognized that there is not large  disperse in equity beta values, estimated at 0,603, 0,609 and 0,613. Third, by changing tax rates in 3  scenarios (25%, 20% and 28%), we recognized that both equity and asset beta mean values have positive relationship with the increasing levels of tax rate. Finally, this paper provides some outcomes that could  provide companies and government more evidence in establishing their policies in governance.Keywords : beta, capital structure, economic crisis, risk, tax rate, wholesale and retail industr

The Risk Level of Viet Nam Medicine and Medical Equipment Industries Under Financial Leverage During and After The Global Crisis 2007-2009

Purpose- This research paper evaluates the impacts of external financing on market risk for the listed firms in the Vietnam medical industry as it becomes necessary, esp. after the financial crisis 2007-2009. Design/methodology/approach- First, by using quantitative and analytical methods to estimate asset and equity beta of total 10 listed companies in Viet Nam medical industry with a proper traditional model. Second, we used three scenarios. Finally, leverage changed in three scenarios. Findings- We found out that the beta values, in general, for many institutions are acceptable. Under 3 different scenarios of changing leverage (in 2011 financial reports, 30% up and 20% down), we recognized that the risk level, measured by equity and asset beta mean, decreases when leverage increases to 30% and it increases in case leverage down to 20%. Third, by changing leverage in 3 scenarios, we recognized the dispersion of risk level, measured by equity beta var, increases if the leverage increases to 30%. Compared to the results of other industries, we see that asset beta var in here increases when leverage up to 30% as well as that in consumer good industry. Originality/value- Finally, this paper provides some outcomes that could provide companies and government more evidence in establishing their policies in governance. Research Paper Reference to this paper should be made as follows: Huy, D.T.N. (2014). “The Risk Level of Viet Nam Medicine and Medical Equipment Industries Under Financial Leverage During and After The Global Crisis 2007-2009”, Journal of Entrepreneurship, Business and Economics, Vol. 2, No. 1, pp. 74–87

The Risk Level of Viet Nam Real Estate Industry Under Financial Leverage During and After the Global Crisis 2009-2011

This paperwork evaluates the impacts of external financing on market risk for the listed firms in the Viet nam real estate industry, esp. during and after the financial crisis 2009-2011.First of all, by using quantitative and analytical methods to estimate asset and equity beta of total 45 listed companies in Viet Nam real estate industry with a proper traditional model, we found out that the beta values, in general, for many institutions are acceptable.Second, under 3 different scenarios of changing leverage (in 2011 financial reports, 30% up and 20% down), we recognized that the risk level, measured by equity and asset beta mean, decreases when leverage increases to 30% but increases more if leverage decreases down to 20%.Third, by changing leverage in 3 scenarios, we recognized the dispersion of risk level, measured by equity beta var, increases from 0,219 to 0,316 if the leverage increases to 30% whereas decreases to 0,166 if leverage decreases to 20%. But the dispersion measured by asset beta var decreases to 0,082 (leverage down 20%), showing leverage impact.Finally, this paper provides some outcomes that could provide companies and government more evidence in establishing their policies in governance. Keywords: equity beta, financial structure, financial crisis, risk, external financing, real estate industry JEL CLASSIFICATION : G010, G100, G39