Impact of Large Ownership, State Ownership on Share Price of Listed Firms in Vietnam Stock Exchange

Abstract: This research using data of 630 listed firms which are listed on Vietnam Stock Exchange 2011-2018 in Vietnam, with variables related to ownership structure, to investigate the effect of different ownership structure characteristics on these firms’ market price. By using OLS, REM, FEM model, the results show that, the variables relate to the large shareholders, the company’s size and rate of return on total assets significantly impacted on the stock market price. Particularly, large shareholder variables, company’s size and variable rate of return on total assets have been shown the positively impact on the share price.

Key words: share price; large shareholder; state ownership; firm size; return on total assets

JEL code: G3