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Financial Risk Management via a Two Factors Model on the Risk Level of Vietnam Electric Power Industry during and after the Global Crisis | Chapter 04 | Emerging Issues and Development in Economics and Trade Vol. 3

This research paper aims to find out the risk level of listed electric power firms increasing or decreasing during the crisis 2007-2011. The significance of this paper is to provide these firms with financing information based on risk level. Using a two (2) factors model, this research paper analyzes the impacts of both financial leverage and the size of firms’ competitors in the electric power industry on the market risk level of 20 listed companies in this category.

This paper founds out that the risk dispersion can be reduced to 0,039 (asset beta var) if leverage is up to 30%.

Beside, the empirical research findings show us that the market risk level measured by asset beta mean is also reduced to 0,131 when financial leverage increases 30%.

Last but not least, this paper illustrates calculated results that might give proper recommendations to relevant governments and institutions in re-evaluating their policies after the financial crisis 2007-2011.

Author(s) Details

Pham Tuan Anh
Thuongmai University, Vietnam.

Dinh Tran Ngoc Huy
Banking University, HCM City, Vietnam and GSIM, International University of Japan, Japan.

View Book: http://bp.bookpi.org/index.php/bpi/catalog/book/120

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