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Entrepreneurship and Sustainability Issues Open access
Journal Impact FactorTM (2022) 1.7
Journal Citation IndicatorTM (2022) 0.42
Received: 2019-11-15  |  Accepted: 2020-03-23  |  Published: 2020-06-30


Impact of selected factors on stock price: a case study of Vietcombank in Vietnam


Fluctuation of stock price in commercial banks in developing countries such as Vietnam will reflect the business health of bank system and the whole economy. Good business management requires us to consider the impacts of multi macro factors on stock price, and it contributes to promoting business plan, financial risk management and economic policies for economic growth and stabilizing macroeconomic factors. The article analyzed and evaluated the impacts of seven (7) macroeconomic factors on stock price of a joint stock commercial bank Vietcombank (VCB) in Vietnam in the period of 2014-2019, both positive and negative sides. The results of quantitative research, in a seven factor model, show that the increase in GDP growth and lending rate and risk free rate has a significant effect on increasing VCB stock price with the highest impact coefficient, the second is decreasing the exchange rate, finally is a slight decrease in S&P500. This research finding and recommended policy also can be used as reference in policy for commercial bank system in many developing countries.


bank stock price, GDP growth, inflationary, S&P500, risk free rate, market interest rate

JEL classifications

M21 , N10





This is an open access issue and all published articles are licensed under a
Creative Commons Attribution 4.0 International License


Huy, Dinh Tran Ngoc
Banking University of Ho Chi Minh City, Ho Chi Minh City, Vietnam
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Loan, Bui Thi Thu
Hanoi University of Industry, Hanoi, Vietnam
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Anh, Pham Tuan
Thuongmai University, Hanoi, Vietnam
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Journal title

Entrepreneurship and Sustainability Issues





Issue date

June 2020

Issue DOI


ISSN 2345-0282 (online)


VšĮ Entrepreneurship and Sustainability Center, Vilnius, Lithuania


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