Risk management in Vietnam tourism industry under the impact of a two factor model during and after the global crisis
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Dosyalar
Tarih
2019
Yazarlar
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
İstanbul Ticaret Üniversitesi
Erişim Hakkı
info:eu-repo/semantics/openAccess
Özet
Over past few years, the global financial crisis shows certain influence on emerging financial markets including Viet nam. Therefore, this study chooses an analytical approach to give some systematic opinions on how much some certain determinants such as income tax and leverage, affect the level of market risk in listed tourism companies.First, it calculates equity and asset beta values in three (3) different scenarios of changing tax rates and changing the level of financial leverage.Second, under 3 different scenarios of changing tax rates (20%, 25% and 28%), we recognized that there is not large disperse in equity beta values, estimated at 0,753 for current leverage situation.Third, by changing tax rates in 3 scenarios (25%, 20% and 28%), we recognized both equity and asset beta mean values have positive relationship with the increasing level of tax rate.Last but not least, this paper covers some ideas and policy suggestions
Açıklama
Anahtar Kelimeler
Risk Management, Asset Beta, Financial Crisis, Corporate Tax, Leverage
Kaynak
International Journal of Commerce and Finance
WoS Q Değeri
Scopus Q Değeri
Cilt
5
Sayı
2
