| Author | Pham Thi Luu Chi |
| Call Number | AIT RSPR no. SM-02-69 |
| Subject(s) | Stock exchanges--Vietanm--Ho Chi Minh
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| Note | A research study submitted in pa1tial fulfillment of the requirements for the degree of Master of Business Administration, School of Management |
| Publisher | Asian Institute of Technology |
| Series Statement | Research studies project report ; no. SM-02-69 |
| Abstract | Histo1y of the development of many stock markets has witnessed a great deal of financial bubble phenomena. The phenomenon of the relentless rises (and after that continuous falls) of stock prices in the Ho Chi Minh City Stock Exchange Center (HSBC) dming the past two years showed that Vietnamese stock market has not been a minor to reflect the economy 's health. Price fluctuations were also unrelated to the performance of listed fim1s although all of which have had positive production and business results. Almost investors have an inadequate understanding of the stock market and lack of professional knowledge as well as necessary information related to the market. Most of them just follow short-run investments as speculators or "gamblers". Stock valuation is a conh·oversial issue with various schools, various viewpoints and models. There are lots of distortions in stock valuation in emerging markets like the case of the HSEC. Even so, it is the first step towards a "rational" investing decision-making in long term. Fmthermore, stock valuation is also one of premises of stable development of any stock market. Having recognized all of these aspects, this research study is conducted as an explorative study of the applicability of relatively appropriate models for stock valuation under current conditions of the HSEC. By realizing real situations of the Vietnamese stock market, obstacles regarding stock valuation of listed joint-stock companies and estimated inh"insic value of the Transimex Saigon's stock as a case study are presented. It could be concluded that the market has overpriced during the middle of the year 2001 and suggested some adjustments for the application of stock valuation models in the specific conditions of the HSEC. Recommendations with respect to the improvement of reliability of information disclosure also are can-ied out so as to serve for stock valuation activities in the HSEC in years to come. |
| Year | 2002 |
| Corresponding Series Added Entry | Asian Institute of Technology. Research studies project report ; no. SM-02-69 |
| Type | Research Study Project Report (RSPR) |
| School | School of Management |
| Department | Other Field of Studies (No Department) |
| Academic Program/FoS | Master of Business Administration (MBA) (Publication code=SM) |
| Chairperson(s) | Ramachandran, Neelakantan; |
| Examination Committee(s) | Gupta, Jyoti Prakash;Truong Quang; |
| Scholarship Donor(s) | Government of France and Asian Institute of Technology; |
| Degree | Research Studies Project Report (M.B.A.) - Asian Institute of Technology, 2002 |