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, 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…
CHAPTER 4 SUMMARY
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.
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.
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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- Factors affecting the ability to access bank credit of enterprises listed on the stock market - 1
- Factors affecting the ability to access bank credit of enterprises listed on the stock market - 2
- Current Status Of Listed Companies On Vietnam Stock Market
- Factors affecting the ability to access bank credit of enterprises listed on the stock market - 4
- Factors affecting the ability to access bank credit of enterprises listed on the stock market - 5
Source: Krejcie &. Morgan, 1970
LIST OF 242 ENTERPRISES LISTED ON THE STOCK EXCHANGE OF VIETNAM
|Number||Stock Code||Name of listing organization|
|1||ARM||Aviation Import Export Joint Stock Company|
|2||CMG||CMC Technology Group Joint Stock Company|
|3||COM||Petrol Supplies Joint Stock Company|
|4||HAX||Hang Xanh Automobile Service Joint Stock Company|
|5||NAV||Nam Viet Joint Stock Company|
|6||PXI||Industrial Construction JSC & Civil Petroleum|
|7||PXM||Central Oil and Gas Construction Joint Stock Company|
|8||VCM||Human Resources JSC & Trade Vinaconex|
|9||SHIPPING||Saigon Hotel Joint Stock Company|
|10||ASA||SANA WMT . Joint Venture Joint Stock Company|
|11||MCC||Premium Brick and Tile Joint Stock Company|
|12||SDE||Song Da Electrical Engineering Joint Stock Company|
|13||SDS||Song Da Investment and Construction Joint Stock Company|
|14||VLA||Investment JSC & Van Lang Technology PT|
|15||PVE||Petroleum Design Consultancy Corporation – JSC|
|16||SD4||Song Da 4 Joint Stock Company|
|17||PXL||Petroleum Trading Construction Investment Joint Stock Company – IDICO|
|18||AAA||JSC Plastic & An Phat Green Environment|
|19||DAD||Investment JSC & Da Nang Education College|
|20||TCL||Tan Cang Loading and Forwarding Agent Joint Stock Company|
|21||TMX||VICEM Cement Trading Joint Stock Company|
|22||NNC||Small Mountain Stone Joint Stock Company|
|23||NVT||Ninh Van Bay Tourism Real Estate Joint Stock Company|
|24||BLF||Bac Lieu Seafood Joint Stock Company|
|25||VAT||Van Xuan Telecommunication Joint Stock Company|
|26||HGM||JSC Mechanical & Ha Giang Minerals|
|27||MDG||Mien Dong Joint Stock Company|
|28||CJC||Central Electromechanical Joint Stock Company|
|29||SD1||Song Da 1 Joint Stock Company|
|30||CX8||JSC Investment & Construction Constrexim No. 8|
|31||ACL||Cuu Long An Giang Seafood Import-Export Joint Stock Company|
|32||HEV||University and Vocational Books Joint Stock Company|
|33||LBE||Book JSC & Long An School Equipment|
|34||SED||Investment JSC & Southern Education PT|
|35||V21||VINACONEX JSC 21|
|36||S91||Song Da JSC 9.01|
|37||S64||Song Da Joint Stock Company 6.04|
|38||SJC||Song Da JSC 1.01|
|39||NG||Song Da Joint Stock Company 10.1|
|40||SSS||Song Da Joint Stock Company 6.06|
|41||STP||Song Da Industrial Trading Joint Stock Company|
|42||VCH ONLY||Construction Investment Joint Stock Company & Infrastructure Development
|43||VHL||Viglacera Ha Long Joint Stock Company|
|44||VE9||VNECO Construction And Investment Joint Stock Company 9|
|45||INN||JSC Packaging & Agriculture Printing|
|46||TLC||Thang Long Telecommunication Joint Stock Company|
|47||MEC||Someco Song Da Joint Stock Company|
|48||S55||Song Da Joint Stock Company 505|
|49||SGC||Sa Giang Import Export Joint Stock Company|
|50||B82||Joint Stock Company 482|
|51||CSC||JSC Investment & Construction of Thanh Nam|
|52||DC4||DIC Joint Stock Company No. 4|
|53||HUT||Tasco . JSC|
|54||OCH ONLY||JSC Hotel & Ocean Service|
|55||BSC||Ben Thanh Service Joint Stock Company|
|56||KTT||Equipment Investment JSC & Thien Dien Construction School|
|57||BHV||Viglacera Ba Hien JSC|
|58||SZL||Sonadezi Long Thanh Joint Stock Company|
|59||SJS||Urban Development Investment Joint Stock Company & Song Da Industrial Park|
|60||VE1||Vneco Electricity Construction Joint Stock Company 1|
|61||CMT||Network Technology JSC & The media|
|62||SRB||Sara . Group Joint Stock Company|
|63||INC||IDICO Investment Consulting JSC|
|64||V12||No.12 Construction Joint Stock Company|
|65||AMV||Pharmaceutical Manufacturing & Trading Joint Stock Company & Vietnam American Medical Center|
|66||HBD||Binh Duong PP Packaging Joint Stock Company|
|67||DCC||Industrial Construction Joint Stock Company|
|68||SGT||Saigon Telecommunications Technology Joint Stock Company|
|69||SDY||Song Da Cement Joint Stock Company Yaly|
|70||NVN||Vietnam House Joint Stock Company|
|71||AAM||Mekong Seafood Joint Stock Company|
|72||NKG||Nam Kim Steel Joint Stock Company|
|73||QCC||JSC Construction & Postal Service Development Quang Nam|
|74||MMC||Manganese Mineral Joint Stock Company|
|75||SSM||Vneco.SSM . Steel Structure Manufacturing Joint Stock Company|
|76||LGL||Investment JSC & Long Giang Urban PT|
|77||HVX||Vicem Hai Van Cement Joint Stock Company|
|78||FLC||FLC Group Joint Stock Company|
|79||TSC||Can Tho Agricultural Engineering Materials Joint Stock Company|
|80||VCF||Vinacafe Bien Hoa JSC|
|81||VLF||Vinh Long Food Joint Stock Company|
|82||VNL||Logistics & Transport Joint Stock Company & Commerce|
|83||VSC||Vietnam Container Joint Stock Company|
|84||AGF||An Giang Seafood Import-Export Joint Stock Company|
|85||HNM||Hanoi Dairy Joint Stock Company|
|86||LCG||Licogi Joint Stock Company 16|
|87||VGP||Vegetable Port Joint Stock Company|
|89||GIL||Production and Business Joint Stock Company & Binh Thanh Import-Export|
|90||ST8||Sieu Thanh Joint Stock Company|
|91||KHP||Khanh Hoa Power Joint Stock Company|
|92||BCI||Binh Chanh Construction Investment Joint Stock Company|
|93||D2D||Industrial Urban Development Joint Stock Company No. 2|
|95||BKC||Bac Kan Mineral Joint Stock Company|
|96||FPC||Full Power Joint Stock Company|
|97||TJC||Transport Services JSC & Commerce|
|98||TV2||2 . Electrical Construction Consulting Joint Stock Company|
|99||V15||Construction Joint Stock Company No. 15|
|101||S99||Song Da Joint Stock Company 909|
|102||MHC||Hanoi Maritime Joint Stock Company|
|103||SHIPPING||Son Ha International Joint Stock Company|
|104||AGD||Go Dang JSC|
|105||SFC||Saigon Fuel Joint Stock Company|
|106||HTL||Engineering JSC & Truong Long Auto|
|107||PAN||Trans-Thai Binh Joint Stock Company|
|108||DCL||Cuu Long Pharmaceutical Joint Stock Company|
|109||DHC||Dong Hai Ben Tre Joint Stock Company|
|110||DMC||Domesco Medical Import Export Joint Stock Company|
|111||DTL||Dai Thien Loc Joint Stock Company|
|112||HVG||Hung Vuong Joint Stock Company|
|113||SAM||JSC Investment & Sacom Development|
|114||SRF||Refrigeration Technology Joint Stock Company|
|115||LM8||Lilama Joint Stock Company 18|
|116||GLT||Global Electrical Engineering Joint Stock Company|
|117||DBC||Dabaco Vietnam Group Joint Stock Company|
|118||ELC||Electronic – Telecom Technology Development Investment Joint Stock Company Pine|
|119||HOUSE||Vicem Hoang Mai Cement Joint Stock Company|
|120||AME||Alphanam Electromechanical Joint Stock Company|
|121||VC3||Construction Joint Stock Company No. 3|
|122||Architects||Kon Tum Sugar Joint Stock Company|
|123||LAF||Long An Export Processing Joint Stock Company|
|124||MSN||Masan Group Joint Stock Company|
|125||VNH||Viet Nhat Seafood Joint Stock Company|
|126||CCI||Cu Chi Trade and Industry Development Investment Joint Stock Company|
|127||TNA||Thien Nam Import-Export Trading Joint Stock Company|
|128||RIC||Royal International Joint Stock Company|
|129||C21||21st Century Joint Stock Company|
|130||TCR||Taicera Ceramics Industry Joint Stock Company|
|131||PPI||Infrastructure Development JSC & Thai Binh Real Estate positive|
|132||QCG||Quoc Cuong Gia Lai Joint Stock Company|
|133||SD8||Song Da 8 Joint Stock Company|
|134||VC7||Construction Joint Stock Company No. 7|
|135||L43||Lilama Joint Stock Company 45.3|
|136||LO5||Lilama Joint Stock Company 5|
|137||BPC||Bim Son Packaging Vicem Joint Stock Company|
|138||HPG||Hoa Phat Group Joint Stock Company|
|139||TDW||Thu Duc Water Supply Joint Stock Company|
|140||SFI||SAFI . Transport Agent Joint Stock Company|
|141||IFS||International Food Joint Stock Company|
|142||CLW||Cho Lon Water Supply Joint Stock Company|
|143||VC6||Vinaconex Joint Stock Company 6|
|144||VTV||VICEM Cement Transport Supplies JSC|
|145||VDL||Lam Dong Food Joint Stock Company|
|146||TST||Telecommunication Technical Services Joint Stock Company|
|147||GMD||Union Shipping Agency Joint Stock Company|
|148||SD5||Song Da Joint Stock Company 5|
|149||HOT||Hoi An Tourism Service Joint Stock Company|
|150||TDH||Thu Duc Housing Development Joint Stock Company|
|151||VNG||Vietnam Golf Tourism Joint Stock Company|
|152||VE2||Vneco 2 . Electrical Construction Joint Stock Company|
|153||ECI||Educational Maps And Pictures JSC|
|154||FDC||Foreign Trade Joint Stock Company & Ho Chi Minh City Tel|
|155||D11||Real Estate Joint Stock Company 11|
|156||SPM||SPM . JSC|
|157||TET||Northern Textile and Garment Joint Stock Company|
|158||PXT||Petroleum Tank Pipeline Construction Joint Stock Company|
|159||VE3||VNECO 3 Electrical Construction Joint Stock Company|
|160||VKP||Tan Hoa Plastic Joint Stock Company|
|161||VNF||Foreign Trade Transport Joint Stock Company|
|162||MDC||Mong Duong Coal Joint Stock Company – Vinacomin|
|163||BBS||But Son Packaging VICEM JSC|
|164||CTB||Hai Duong Pump Manufacturing Joint Stock Company|
|165||DCS||Dai Chau Group Joint Stock Company|
|166||DNP||Dong Nai Plastic Joint Stock Company|
|167||DZM||Dzi An Machine Manufacturing Joint Stock Company|
|168||NGC||Ngo Quyen Seafood Export Processing Joint Stock Company|
|169||POT||Postal Equipment Joint Stock Company|
|170||SJ1||Seafood Joint Stock Company No. 1|
|171||DBT||Ben Tre Pharmaceutical Joint Stock Company|
|172||KMT||Central Metal Joint Stock Company|
|173||TAG||Tran Anh Digital World Joint Stock Company|
|174||RHC||Ry Ninh II Hydropower Joint Stock Company|
|175||MAC||JSC Supply & Marine Engineering Service|
|176||LUT||Luong Tai Construction Investment Joint Stock Company|
|177||NHW||Ngo Han Joint Stock Company|
|178||SAV||Economic Cooperation JSC & Savimex Import-Export|
|179||SD6||Song Da 6 Joint Stock Company|
|180||XMC||JSC Concrete & Construction Vinaconex Xuan Mai|
|181||PXS||Metal Structure JSC & Oil and Gas Engine Installation|
|183||PVX||PetroVietnam Construction Joint Stock Corporation|
|184||DISCIPLINE||Khanh Hoi Import Export Joint Stock Company|
|185||L14||Licogi Joint Stock Company 14|
|186||TIX||Joint Stock Company Import Export Services & Tan Binh Tel|
|187||TLG||Thien Long Group Joint Stock Company|
|188||LCD||Lilama Experimental Electromechanical Joint Stock Company|
|189||DHA||Hoa An Joint Stock Company|
|190||S12||Song Da Joint Stock Company 12|
|191||SD2||Song Da 2 Joint Stock Company|
|192||TS4||No.4 Seafood Joint Stock Company|
|193||TNG||TNG Trading And Investment Joint Stock Company|
|194||VBH||Binh Hoa Electronics Joint Stock Company|
|195||L44||Lilama Joint Stock Company 45.4|
|196||TV3||3 . Electrical Construction Consulting Joint Stock Company|
|197||SC5||Construction Joint Stock Company No. 5|
|198||TXM||VICEM Cement Gypsum Joint Stock Company|
|199||LM7||Lilama 7 . JSC|
|200||REE||Refrigeration Mechanical and Electrical Joint Stock Company|
|201||ABT||Ben Tre Seafood Import-Export Joint Stock Company|
|202||VC9||Construction Joint Stock Company No. 9|
|203||PTC||JSC Investment & Post Office Construction|
|204||TV4||4 . Electrical Construction Consulting Joint Stock Company|
|206||LHC||Investment JSC & Lam Dong Irrigation Construction|
|207||CSM||Southern Rubber Industry Joint Stock Company|
|208||STT||Saigon Tourist Transport Joint Stock Company|
|209||PJT||Petrolimex Waterway Petroleum Transport Joint Stock Company|
|210||CDC||Chuong Duong Joint Stock Company|
|211||HDC||Ba Ria – Vung Tau House Development Joint Stock Company|
|212||HU3||JSC Investment & Building HUD3|
|213||SD7||Song Da 7 Joint Stock Company|
|214||SSC||Southern Seed Joint Stock Company|
|215||STG||Southern Logistics Joint Stock Company|
|216||TPH||Textbook Printing JSC in Hanoi City|
|217||TCS||Cao Son Coal Joint Stock Company – Vinacomin|
|218||NTL||Tu Liem Urban Development Joint Stock Company|
|219||CIG||COMA Joint Stock Company 18|
|220||VC5||Construction Joint Stock Company No. 5|
|221||VC1||Construction Joint Stock Company No. 1|
|222||WCS||Western Bus Station Joint Stock Company|
|223||CAP||Yen Bai Forestry Products Food Joint Stock Company|
|224||VC2||Construction Joint Stock Company No. 2|
|225||CMC||CMC Investment Joint Stock Company|
|226||TCM||Thanh Cong Textile – Telephone – Trading Joint Stock Company|
|227||QHD||Viet Duc Electric Welding Rod Joint Stock Company|
|228||HT1||Ha Tien Cement Joint Stock Company 1|
|229||BTH||Transformer Manufacturing JSC & Electrical Materials Interior|
|230||VFR||Shipping and Chartering Joint Stock Company|
|231||LASI||Lam Thao Superphosphate And Chemical Joint Stock Company|
|232||L18||Investment and Construction Joint Stock Company No. 18|
|233||L61||Lilama Joint Stock Company 69.1|
|234||LM3||Lilama 3 Joint Stock Company|
|235||HAP||Hapaco Group Joint Stock Company|
|236||L10||Lilama Joint Stock Company 10|
|237||TDN||Deo Nai Coal Joint Stock Company – Vinacomin|
|238||BT6||Beton 6 . Joint Stock Company|
|239||CAN||Ha Long Canned Food Joint Stock Company|
|240||MCG||Electromechanical JSC & Vietnam Construction (MECO)|
|241||CT6||6 . Construction Joint Stock Company|
|242||TC6||Coal Coal Joint Stock Company – Vinacomin|