越南本國商業銀行獲利性決定因素之研究

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Title:	越南本國商業銀行獲利性決定因素之研究 Determinants of Domestic Commercial Bank Profitability in Vietnam
Authors:	鄧氏燕 Yen, Dang Thi
Contributors:	財務金融學系
Keywords:	Profitability Commercial banks Vietnam determinants Pooled Least Square estimate
Date:	2015-06
Issue Date:	2015-08-19 14:25:29 (UTC+8)
Abstract:	This study aims to examine the determinants of profitability for domestic commercial banks in Vietnam over the period 2007- 2012. This study is interesting in the sense that, although abundance of literature has investigated into the factors that affect the banking industry for many countries including Vietnam, a specific case of the Vietnamese domestic commercial bank has not been found so far. In this study, two profitability indicators, returns on total asset (ROA) and return on total equity (ROE), are treated as dependent variables. Meanwhile, fifteen independent variables are divided into two groups: bank-specific variables which include capital structure (CS), funding structure (FS), credit risk (CR), liquidity risk (LR), funding cost (FC), business model (BM), operation efficiency (OE) , bank’s growth (GR); industry-specific factors which include ownership (OWN), IPO, age of the bank, and market concentration (CON) and macroeconomic variables which include real gross domestic product (GDP) growth, inflation (RIF) and effective coporate income tax rate (TAX). The panel data are collected annually from official websites of twenty-four local commercial banks, covering the period from 2007 to 2012. The pooled ordinary least squares (POLS) method is utilized to estimate two models with ROA (Model 1) and ROE (Model 2) as dependent variables and all independent variables as are aforementioned. The empirical results from Model 1 show that, in contrast to the findings of Dietrich & Wanzenried (2011), capital structure has positive effects on ROA. This profitability indicator also moves in the same direction with GDP growth consistent with the findings of Rachdi (2013). Nevertheless, credit risk, business model, operation efficiency, market concentration and inflation rate have negative effects on bank’s profitability. No association is found between profitability and funding structure, liquidity risk, funding cost, bank’s growth, ownership, age, and tax. In the Model 2 with ROE as the dependent variable, in contrast to Model 1, ROE is negatively correlated with capital structure while positively correlated with bank’s growth. CR, BM, and OE show the same impact to ROE like they do impact to ROA. However, RIF have no longer effect on profitability anymore. Instead of that, bank growth measure by growth of loan moves in the same direction with ROE meanwhile it have no relationship with ROA.
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