Factors affecting the ability to access bank credit of enterprises listed on the stock market - 6

Listed enterprises in recent years have difficulty accessing credit capital from commercial banks due to many reasons, of which the main reason is that commercial banks do not trust these enterprises. Therefore, in order to increase the trust of commercial banks, listed companies must establish their own creditworthiness, specifically:

– Strictly comply with the provisions of the State and the law in production and business activities.

– Increase the accuracy and truthfulness of financial statements, implement the accounting bookkeeping regime as prescribed.

 – Increase accumulation and increase investment to increase financial capacity, gradually meet the conditions for accessing bank credit capital.

– Make the most of the existing comparative advantages of each enterprise to focus on developing production and business, building a medium and long-term business strategy.

– Focusing on research and innovation of machinery, equipment and technology to make a breakthrough in improving product quality and lowering product costs.

– Strengthening the link between businesses and consumers to capture feedback on products, 1

– Strengthening the link between businesses and consumers to capture feedback on products, thereby perfecting products and services according to customers’ requirements, improving the competitiveness of businesses, capturing gain market share to help stabilize the production and business situation.

– It is necessary to learn and apply financial tools to prevent risks in the modern market economy such as insurance, forward contracts, options, swaps… to manage price fluctuations. interest rates, exchange rates, etc. affect the business results of enterprises.

– It is necessary to join business associations according to their industry in order to exchange and learn management experiences of successful enterprises in the same field, promote trade exchanges and take advantage of the protection of other businesses. Association under competitive pressure.

4.1.2. Develop feasible production and business projects and plans

Currently, most of the projects and plans built by enterprises have not met the requirements of the appraisal. The low quality of projects and plans is a big obstacle that makes it difficult for businesses to access capital from commercial banks. Therefore, businesses must actively access information about the market to build investment projects in competitive products. The project must be carefully prepared, providing enough information to present to the commercial bank about its feasibility and reliability. It is necessary to enlist consulting services or support from experts to be able to build highly convincing business plans and projects.

Enterprises need to be proactive in building projects and investment methods in accordance with their capital, technology and human capacity. Especially, it is necessary to be transparent about financial issues to use resources more efficiently, reduce costs and risks for both businesses and banks.

In addition, businesses must also prepare and implement other provisions in the loan application such as: completing documents proving ownership of assets so that the business is eligible for mortgage or pledge when applying for a loan. Borrowing from banks, guaranteeing loan performance, registering insurance transactions, using capital for the right purposes, repaying principal and interest on time…

4.2. To the credit institutions

4.2.1. Diversify credit products

First of all, banks need to quickly develop products in a synchronous manner, while increasing the mobilization of resources, facilitating the provision of capital for businesses, and at the same time developing binding products, creating conditions for businesses to Lack of conditions on collateral can still borrow capital.

The combination of many products and services provided to businesses is also one of the bases to lower lending rates, support enterprises to manage more effectively, grasp market conditions more fully, more timely.

Banks can also increase their access to official funding sources or through programs and projects of organizations, creating sources with low interest rates…

Besides, it is possible to consider debt restructuring, debt rescheduling, credit incentives for business enterprises, if these enterprises can prove the sources of revenue to repay bank loans; develop a form of finance lease to help enterprises quickly innovate technology.

4.2.2. Improve the quality of appraisal work

Appraisal is a very important step that affects the lending decision and also affects the efficiency of the capital that the bank spends. The quality of the input appraisal is the decisive factor for the output credit quality in the future. In order to accurately assess financial capacity, debt repayment ability, debt repayment source through indicators on financial statements such as solvency, profitability, etc., combined with the parameters and results of the financial statements. enterprises in the same industry, of traditional enterprises.

Organize research, information gathering, interviews, business visits… thereby assessing the business management ability of business leaders through organizational capacity, professional qualifications as well as prestige. The credit of the leader is a qualitative standard, so it is necessary to have the sophistication of the credit officer to be able to make an accurate assessment.

Credit officers should learn more about other areas such as technical appraisal, machine specifications and quality, so that they can detect potential risks. hidden…


In chapter 4, the author has proposed some suggestions to help improve the access to bank credit of listed companies. These suggestions include:

– On the side of listed companies: improve production and business efficiency, increase the credit rating of listed companies; to develop feasible production and business projects and plans

– For credit institutions: diversify credit products; improve the quality of appraisal work.


This study achieved two goals set out at the outset. The study has identified 7 main factors affecting the ability to access bank credit of listed companies including: number of years of operation of the company, revenue growth, growth of fixed assets, no profitability, large company size, gender of the owner is female, has a bank account. The study also uses correlation and regression methods to determine the direction of the impact of the above factors on the ability to access credit of listed companies. From the results obtained, the author has made some suggestions to improve the access to bank credit of listed enterprises in particular and of Vietnamese enterprises in general.

The study also has some limitations. The study only surveyed enterprises in the communication technology industry, the service industry, the accommodation industry, the manufacturing industry, the mining industry (oil and gas), the commerce industry, the construction industry and real estate. Due to limited time, it is necessary to have repeat studies for businesses in other industries that are not included in the study and to add other factors affecting the ability to access bank credit. compare and build more efficient models for the whole market. From there, companies in other industries can apply the model to draw their own specific solutions to improve access to bank credit. This is the direction of further research.


I. Vietnamese

1. Vietnam Development Forum & National Economics University (2012), Impact of monetary policy and global economic recession on Vietnamese enterprises’ ability to access capital and do business .

2. Hoang Trong & Chu Nguyen Mong Ngoc (2005), Research data analysis with SPSS, Statistical Publishing House.

3. GED Entrepreneur Academy (2013), Five issues of listed companies 2012. http://doanhnhan.edu.vn/5-van-de-cua-cac-doanh-nghiep-niemyet-nam 2012/. Updated on 13/08/2013.

4. Nguyen Thi Canh (2005), Methods and methodology of economic scientific research, National University Publishing House, Ho Chi Minh City. HCM.

5. At the financial magazine (2013), Vietnam’s economic situation in July and the first 7 months of 2013.

6. General Statistics Office (2013), Socio-economic situation in 2012.

7. State Securities Commission (2012), Current situation of Vietnam’s stock market, policy recommendations.

8. State Securities Commission (2013), Portal, http://www.ssc.gov.vn, updated 15/08/2013.

9. Vietnamnet (2012), In 2012, credit growth was at a record low of 7%, http://vietnamnet.vn/vn/ Kinh-te/102903/nam-2012–tin-dung-tang-thap-ky- luc7-.html, updated 12/08/2013.

II. English

10.Aghion, P., Bolton, P. (1992), An incomplete contracts approach to financial contracting. Review of Economic Studies 59, 473–494.

11.Allen, L. (1987), The Credit Rationing Phenomenon: A Survey of The Literature. Salomon Brothers Center for the Study of Financial Institutions, Graduate School of Business Administration, New York University.

12.Beck, T., Levine, R. (2002), Industry growth and capital allocation: does having a market or bank-based system matter? Journal of Financial Economics 64 (2), 147–180.

13.Berger, A., Udell, G. (2002), Small Business Credit Availability and Relationship Lending: The Importance of Bank Organisational Structure, Economic Journal.

14.Besanko, D., Thakor, A. (1987), Collateral and rationing: sorting equilibria in monopolistic and competitive credit markets. International Economic Review 28 (3), 671–689.

15.Bester, H. (1987), The role of collateral in credit markets with imperfect information. European Economic Review 31 (4), 887–899.

16.Cole, R. (1998), The importance of relationships to the availability of credit. Journal of Banking and Finance 22, 959–977.

17.Hongjiang Zhao, Wenxu Wu và Xuehua Chen (2006) “What Factors Affect Small and Medium-sized Enterprise’s Ability to Borrow from Bank: Evidence from Chengdu City, Capital of South-Western China ‘s Sichuan Province”

18.Konstantinos. Drakos và Nicholas Giannakopoulos (2011) “On the determinants of credit rationing: Firm-level evidence from transition countries”. Journal of International Money and Finance, 1773-1790

19.Levenson, A., Willard, K. (2000), Do firms get the financing they want?. Measuring credit rationing experienced by small business in the US. Small Business Economics 14, 83–94.

20.Yuko Nikaido, Jesim Pais, Mandira Sarma (2012) “Determinants of Access to Institutional Credit for Small Enterprises in India”


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Source: Krejcie &. Morgan, 1970



NumberStock CodeName of listing organization
1ARMAviation Import Export Joint Stock Company
2CMGCMC Technology Group Joint Stock Company
3COMPetrol Supplies Joint Stock Company
4HAXHang Xanh Automobile Service Joint Stock Company
5NAVNam Viet Joint Stock Company
6PXIIndustrial Construction JSC & Civil Petroleum
7PXMCentral Oil and Gas Construction Joint Stock Company
8VCMHuman Resources JSC & Trade Vinaconex
9SHIPPINGSaigon Hotel Joint Stock Company
10ASASANA WMT . Joint Venture Joint Stock Company
11MCCPremium Brick and Tile Joint Stock Company
12SDESong Da Electrical Engineering Joint Stock Company
13SDSSong Da Investment and Construction Joint Stock Company
14VLAInvestment JSC & Van Lang Technology PT
15PVEPetroleum Design Consultancy Corporation – JSC
16SD4Song Da 4 Joint Stock Company
17PXLPetroleum Trading Construction Investment Joint Stock Company – IDICO
18AAAJSC Plastic & An Phat Green Environment
19DADInvestment JSC & Da Nang Education College
20TCLTan Cang Loading and Forwarding Agent Joint Stock Company
21TMXVICEM Cement Trading Joint Stock Company
22NNCSmall Mountain Stone Joint Stock Company
23NVTNinh Van Bay Tourism Real Estate Joint Stock Company
24BLFBac Lieu Seafood Joint Stock Company
25VATVan Xuan Telecommunication Joint Stock Company
26HGMJSC Mechanical & Ha Giang Minerals
27MDGMien Dong Joint Stock Company
28CJCCentral Electromechanical Joint Stock Company
29SD1Song Da 1 Joint Stock Company
30CX8JSC Investment & Construction Constrexim No. 8
31ACLCuu Long An Giang Seafood Import-Export Joint Stock Company
32HEVUniversity and Vocational Books Joint Stock Company
33LBEBook JSC & Long An School Equipment
34SEDInvestment JSC & Southern Education PT
36S91Song Da JSC 9.01
37S64Song Da Joint Stock Company 6.04
38SJCSong Da JSC 1.01
39NGSong Da Joint Stock Company 10.1
40SSSSong Da Joint Stock Company 6.06
41STPSong Da Industrial Trading Joint Stock Company
42VCH ONLYConstruction Investment Joint Stock Company & Infrastructure Development
43VHLViglacera Ha Long Joint Stock Company
44VE9VNECO Construction And Investment Joint Stock Company 9
45INNJSC Packaging & Agriculture Printing
46TLCThang Long Telecommunication Joint Stock Company
47MECSomeco Song Da Joint Stock Company
48S55Song Da Joint Stock Company 505
49SGCSa Giang Import Export Joint Stock Company
50B82Joint Stock Company 482
51CSCJSC Investment & Construction of Thanh Nam
52DC4DIC Joint Stock Company No. 4
53HUTTasco . JSC
54OCH ONLYJSC Hotel & Ocean Service
55BSCBen Thanh Service Joint Stock Company
56KTTEquipment Investment JSC & Thien Dien Construction School
57BHVViglacera Ba Hien JSC
58SZLSonadezi Long Thanh Joint Stock Company
59SJSUrban Development Investment Joint Stock Company & Song Da Industrial Park
60VE1Vneco Electricity Construction Joint Stock Company 1
61CMTNetwork Technology JSC & The media
62SRBSara . Group Joint Stock Company
63INCIDICO Investment Consulting JSC
64V12No.12 Construction Joint Stock Company
65AMVPharmaceutical Manufacturing & Trading Joint Stock Company & Vietnam American Medical Center
66HBDBinh Duong PP Packaging Joint Stock Company
67DCCIndustrial Construction Joint Stock Company
68SGTSaigon Telecommunications Technology Joint Stock Company
69SDYSong Da Cement Joint Stock Company Yaly
70NVNVietnam House Joint Stock Company
71AAMMekong Seafood Joint Stock Company
72NKGNam Kim Steel Joint Stock Company
73QCCJSC Construction & Postal Service Development Quang Nam
74MMCManganese Mineral Joint Stock Company
75SSMVneco.SSM . Steel Structure Manufacturing Joint Stock Company
76LGLInvestment JSC & Long Giang Urban PT
77HVXVicem Hai Van Cement Joint Stock Company
78FLCFLC Group Joint Stock Company
79TSCCan Tho Agricultural Engineering Materials Joint Stock Company
80VCFVinacafe Bien Hoa JSC
81VLFVinh Long Food Joint Stock Company
82VNLLogistics & Transport Joint Stock Company & Commerce
83VSCVietnam Container Joint Stock Company
84AGFAn Giang Seafood Import-Export Joint Stock Company
85HNMHanoi Dairy Joint Stock Company
86LCGLicogi Joint Stock Company 16
87VGPVegetable Port Joint Stock Company
89GILProduction and Business Joint Stock Company & Binh Thanh Import-Export
90ST8Sieu Thanh Joint Stock Company
91KHPKhanh Hoa Power Joint Stock Company
92BCIBinh Chanh Construction Investment Joint Stock Company
93D2DIndustrial Urban Development Joint Stock Company No. 2
94HASHacisco JSC
95BKCBac Kan Mineral Joint Stock Company
96FPCFull Power Joint Stock Company
97TJCTransport Services JSC & Commerce
98TV22 . Electrical Construction Consulting Joint Stock Company
99V15Construction Joint Stock Company No. 15
100BBCBibica JSC
101S99Song Da Joint Stock Company 909
102MHCHanoi Maritime Joint Stock Company
103SHIPPINGSon Ha International Joint Stock Company
104AGDGo Dang JSC
105SFCSaigon Fuel Joint Stock Company
106HTLEngineering JSC & Truong Long Auto
107PANTrans-Thai Binh Joint Stock Company
108DCLCuu Long Pharmaceutical Joint Stock Company
109DHCDong Hai Ben Tre Joint Stock Company
110DMCDomesco Medical Import Export Joint Stock Company
111DTLDai Thien Loc Joint Stock Company
112HVGHung Vuong Joint Stock Company
113SAMJSC Investment & Sacom Development
114SRFRefrigeration Technology Joint Stock Company
115LM8Lilama Joint Stock Company 18
116GLTGlobal Electrical Engineering Joint Stock Company
117DBCDabaco Vietnam Group Joint Stock Company
118ELCElectronic – Telecom Technology Development Investment Joint Stock Company Pine
119HOUSEVicem Hoang Mai Cement Joint Stock Company
120AMEAlphanam Electromechanical Joint Stock Company
121VC3Construction Joint Stock Company No. 3
122ArchitectsKon Tum Sugar Joint Stock Company
123LAFLong An Export Processing Joint Stock Company
124MSNMasan Group Joint Stock Company
125VNHViet Nhat Seafood Joint Stock Company
126CCICu Chi Trade and Industry Development Investment Joint Stock Company
127TNAThien Nam Import-Export Trading Joint Stock Company
128RICRoyal International Joint Stock Company
129C2121st Century Joint Stock Company
130TCRTaicera Ceramics Industry Joint Stock Company
131PPIInfrastructure Development JSC & Thai Binh Real Estate positive
132QCGQuoc Cuong Gia Lai Joint Stock Company
133SD8Song Da 8 Joint Stock Company
134VC7Construction Joint Stock Company No. 7
135L43Lilama Joint Stock Company 45.3
136LO5Lilama Joint Stock Company 5
137BPCBim Son Packaging Vicem Joint Stock Company
138HPGHoa Phat Group Joint Stock Company
139TDWThu Duc Water Supply Joint Stock Company
140SFISAFI . Transport Agent Joint Stock Company
141IFSInternational Food Joint Stock Company
142CLWCho Lon Water Supply Joint Stock Company
143VC6Vinaconex Joint Stock Company 6
144VTVVICEM Cement Transport Supplies JSC
145VDLLam Dong Food Joint Stock Company
146TSTTelecommunication Technical Services Joint Stock Company
147GMDUnion Shipping Agency Joint Stock Company
148SD5Song Da Joint Stock Company 5
149HOTHoi An Tourism Service Joint Stock Company
150TDHThu Duc Housing Development Joint Stock Company
151VNGVietnam Golf Tourism Joint Stock Company
152VE2Vneco 2 . Electrical Construction Joint Stock Company
153ECIEducational Maps And Pictures JSC
154FDCForeign Trade Joint Stock Company & Ho Chi Minh City Tel
155D11Real Estate Joint Stock Company 11
157TETNorthern Textile and Garment Joint Stock Company
158PXTPetroleum Tank Pipeline Construction Joint Stock Company
159VE3VNECO 3 Electrical Construction Joint Stock Company
160VKPTan Hoa Plastic Joint Stock Company
161VNFForeign Trade Transport Joint Stock Company
162MDCMong Duong Coal Joint Stock Company – Vinacomin
163BBSBut Son Packaging VICEM JSC
164CTBHai Duong Pump Manufacturing Joint Stock Company
165DCSDai Chau Group Joint Stock Company
166DNPDong Nai Plastic Joint Stock Company
167DZMDzi An Machine Manufacturing Joint Stock Company
168NGCNgo Quyen Seafood Export Processing Joint Stock Company
169POTPostal Equipment Joint Stock Company
170SJ1Seafood Joint Stock Company No. 1
171DBTBen Tre Pharmaceutical Joint Stock Company
172KMTCentral Metal Joint Stock Company
173TAGTran Anh Digital World Joint Stock Company
174RHCRy Ninh II Hydropower Joint Stock Company
175MACJSC Supply & Marine Engineering Service
176LUTLuong Tai Construction Investment Joint Stock Company
177NHWNgo Han Joint Stock Company
178SAVEconomic Cooperation JSC & Savimex Import-Export
179SD6Song Da 6 Joint Stock Company
180XMCJSC Concrete & Construction Vinaconex Xuan Mai
181PXSMetal Structure JSC & Oil and Gas Engine Installation
182TMSTransimex-SaiGon JSC
183PVXPetroVietnam Construction Joint Stock Corporation
184DISCIPLINEKhanh Hoi Import Export Joint Stock Company
185L14Licogi Joint Stock Company 14
186TIXJoint Stock Company Import Export Services & Tan Binh Tel
187TLGThien Long Group Joint Stock Company
188LCDLilama Experimental Electromechanical Joint Stock Company
189DHAHoa An Joint Stock Company
190S12Song Da Joint Stock Company 12
191SD2Song Da 2 Joint Stock Company
192TS4No.4 Seafood Joint Stock Company
193TNGTNG Trading And Investment Joint Stock Company
194VBHBinh Hoa Electronics Joint Stock Company
195L44Lilama Joint Stock Company 45.4
196TV33 . Electrical Construction Consulting Joint Stock Company
197SC5Construction Joint Stock Company No. 5
198TXMVICEM Cement Gypsum Joint Stock Company
199LM7Lilama 7 . JSC
200REERefrigeration Mechanical and Electrical Joint Stock Company
201ABTBen Tre Seafood Import-Export Joint Stock Company
202VC9Construction Joint Stock Company No. 9
203PTCJSC Investment & Post Office Construction
204TV44 . Electrical Construction Consulting Joint Stock Company
206LHCInvestment JSC & Lam Dong Irrigation Construction
207CSMSouthern Rubber Industry Joint Stock Company
208STTSaigon Tourist Transport Joint Stock Company
209PJTPetrolimex Waterway Petroleum Transport Joint Stock Company
210CDCChuong Duong Joint Stock Company
211HDCBa Ria – Vung Tau House Development Joint Stock Company
212HU3JSC Investment & Building HUD3
213SD7Song Da 7 Joint Stock Company
214SSCSouthern Seed Joint Stock Company
215STGSouthern Logistics Joint Stock Company
216TPHTextbook Printing JSC in Hanoi City
217TCSCao Son Coal Joint Stock Company – Vinacomin
218NTLTu Liem Urban Development Joint Stock Company
219CIGCOMA Joint Stock Company 18
220VC5Construction Joint Stock Company No. 5
221VC1Construction Joint Stock Company No. 1
222WCSWestern Bus Station Joint Stock Company
223CAPYen Bai Forestry Products Food Joint Stock Company
224VC2Construction Joint Stock Company No. 2
225CMCCMC Investment Joint Stock Company
226TCMThanh Cong Textile – Telephone – Trading Joint Stock Company
227QHDViet Duc Electric Welding Rod Joint Stock Company
228HT1Ha Tien Cement Joint Stock Company 1
229BTHTransformer Manufacturing JSC & Electrical Materials Interior
230VFRShipping and Chartering Joint Stock Company
231LASILam Thao Superphosphate And Chemical Joint Stock Company
232L18Investment and Construction Joint Stock Company No. 18
233L61Lilama Joint Stock Company 69.1
234LM3Lilama 3 Joint Stock Company
235HAPHapaco Group Joint Stock Company
236L10Lilama Joint Stock Company 10
237TDNDeo Nai Coal Joint Stock Company – Vinacomin
238BT6Beton 6 . Joint Stock Company
239CANHa Long Canned Food Joint Stock Company
240MCGElectromechanical JSC & Vietnam Construction (MECO)
241CT66 . Construction Joint Stock Company
242TC6Coal Coal Joint Stock Company – Vinacomin
Date published: 01/11/2021
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