HANOI NATIONAL UNIVERSITY
INTERNATIONAL SCHOOL
=============
VU THI QUYNH HA
FACTORS AFFECTING THE LIQUIDITY OF
LISTED STOCKS ON THE VIETNAMESE
STOCK MARKET
Program: Financial Management
Code Number: 8340202.01QTD
Supervisor: Dr. Do Phuong Huyen
Hanoi - 2024
COMMITMENT OF AUTHORSHIP
----- 🙡🕮🙣 -----
I hereby declare that this thesis was carried out by myself under the guidance
and supervisor of my advisor, Dr. Do Phuong Huyen; and that the work contained
in it and the results in it are true by the author and have not violated research ethics.
The data and figures presented in this thesis are for analysis, comments, and
evaluations from various resources by my own work and have been duly
acknowledged in the reference part.
In addition, other comments, reviews and data used by other authors, and
organizations have been acknowledged and explicitly cited.
I will take full responsibility for any fraud detected in my thesis.
Ha Noi, October 31, 2024
Author
Vu Thi Quynh Ha
i
ACKNOWLEDGEMENTS
Firstly, I would like to express my sincere gratitude to the faculty members of
Vietnam National University, Hanoi, for equipping me with foundational
knowledge and providing valuable academic guidance throughout my studies.
I am especially grateful to my advisor, Dr. Do Phuong Huyen, for her invaluable
support, dedication, and insightful guidance, which played a crucial role in the
successful completion of this thesis:
“Factors affecting the Liquidity of Listed Stocks on the Vietnamese Stock Market.”
Given the complexity of this research topic, along with my own limitations in
knowledge and expertise, this thesis may contain certain shortcomings. I sincerely
welcome any feedback and constructive suggestions from faculty members and
fellow researchers to further refine and improve the study.
Lastly, I would like to extend my heartfelt appreciation to my family and friends for
their unwavering support throughout my academic journey and the completion of
this thesis.
Sincerely,
ii
LIST OF ABBREVIATIONS
GDP Gross Domestic Product
VSGR Value of Sustainable Growth Rate
CAMP Capital Asset Pricing Model
VOL trading volume
iii
LIST OF TABLES
Table 3.1: Variable description...............................................................................20
Table 4.1. Descriptive statistics of variables in the research model....................29
Table 4.2. Matrix of correlation coefficients of variables in the research model......30
Table 4.3. Research model results..........................................................................31
iv