Cash Holdings and Investment Levels: An Empirical Study from Listed Companies on Viet Nam’s Stock Exchange

  •  Hoang Thi Thuy    
  •  Duong Thi Nhan    
  •  Chen MiaoJian    


The study selected 410 companies on Viet Nam’s Stock Exchange during the period from 2012 to 2016, with 2050 observations as a sample of research, to analyze the relationship between cash holdings and investment levels. The findings show that cash holdings has a positive effect on investment levels: the higher cash holdings, the greater investment level. Also, the results show that investment levels are affected by the return on total assets but not affected by the size of the company. The research is empirical evidence that contributes to the limited investment in research in Vietnam and is a reference for those interested in investing in Vietnam and managers in strategic policy formulation.

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