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Ownership structure and business performance of Vietnamese commercial banks - 6

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APPENDIX

Appendix 1: List of commercial banks selected for research

STT

Bank name

Symbol

Charter capital (billion VND)

first

Bank for Agriculture and Rural Development of Vietnam

AGR

29,605

2

Joint Stock Commercial Bank for Foreign Trade of Vietnam

VCB

35,978

3

Joint Stock Commercial Bank for Industry and Trade of Vietnam

CTG

37.234

4

Vietnam Prosperity Joint Stock Commercial Bank

VPB

15,706

5

Joint Stock Commercial Bank for Investment and Development of Vietnam

BIDV

34.187

6

Asia Commercial Joint Stock Bank

ACB

11.259

7

Vietnam Export Import Commercial Joint Stock Bank

EIB

12,355

8

Vietnam Maritime Commercial Joint Stock Bank

MSB

11,750

9

Vietnam Technological and Commercial Joint Stock Bank

TCB

34,966

ten

Saigon Industrial and Commercial Joint Stock Bank

SGB

3.080

11

Orient Commercial Joint Stock Bank

OCB

5,000 won

twelfth

International Commercial Joint Stock Bank

VIB

5.644

13

Ho Chi Minh City Housing Development Commercial Joint Stock Bank

HDB

9,810

14

South Asia Commercial Joint Stock Bank

NAB

3.021

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Ownership structure and business performance of Vietnamese commercial banks - 6

STT

Bank name

Symbol

Charter capital (billion VND)

15

Joint Stock Commercial Bank Southeast Asia Bank

SeAB

5.466

16

Joint Stock Commercial Bank An Binh Bank

ABB

5.319

17

Saigon Thuong Tin Commercial Joint Stock Bank

STB

18,853

18

Military Commercial Joint Stock Bank

MBB

18,155

19

National Commercial Joint Stock Bank

NCB

3.010

20

Petrolimex Petroleum Commercial Joint Stock Bank

PG Bank

3,000 won

21

Saigon-Hanoi Commercial Joint Stock Bank

SHB

12,036

22

Lien Viet Post Commercial Joint Stock Bank

LPB

6,460

23

Joint Stock Commercial Bank Tien Phong Bank

TPB

6.718

24

Bao Viet Commercial Joint Stock Bank

BVB

3,500

25

Saigon Commercial Joint Stock Bank

SCB

14,295

26

Joint Stock Commercial Bank Bac A Bank

BAB

5.462

27

Indovina Bank Ltd

INDO

165 million won

USD

28

Public Bank Vietnam

VID

3,000 won

29

Commercial Siam bank in Vietnam

SIAM

Thailand

30

HSBC Bank (Vietnam) Ltd.

HSBC

7.528

Source: Author's compilation

Variable | Obs Mean Std. Dev. Min Max

-------------+------------------------------------------------------- --------------------

ROA

|

443

1.078758

1.168033

-9.378

7.5

GOE

|

443

13.56787

33.02558

0

100

FOE

|

443

14.32707

21,97428

0

100

IOE

|

443

39.51737

31.10862

0

97.45

INF

|

443

7.642957

5.437313

.6

19.9

-------------+------------------------------------------------------- --------------------

GDP

|

443

6.651129

1.05083

5.03

8.48

LOD

|

443

.9236995

.3083398

.0008071

2.432482

LOE

|

443

6.639658

15.58025

.0025763

252.0612

Source: Author collects, synthesizes, calculates on Stata 13 . software

Source | SS df MS Number of obs = 443

------------+--------------------------------------- F( 7, 435) = 7.12

Model | 62.0243093 7 8.86061561 Prob > F = 0.0000

Residual | 540,99662 435 1.24367039 R-squared = 0.1029

-------------+--------------------------------------- Adj R-squared = 0.0884

Total | 603.020929 442 1.36430074 Root MSE = 1.1152

--------------------------------------------------- ----------------------------

ROA | Coef. Std. Err. t

|t| [95% Conf. Interval]

 

-------------+------------------------------------------------ ----------------------------

GOE

|

-.0061361

.0022288

-2.75

0.006

-.0105168

-.0017555

FOE

|

-.0029135

.0030603

-0.95

0.342

-.0089283

.0031013

IOE

|

-.001461

.0024584

-0.59

0.553

-.0062927

.0033708

INF

|

.0441076

.0098771

4.47

0.000

.0246948

.0635203

GDP

|

.1957689

.0516128

3.79

0.000

.0943275

.2972103

LOD

|

-.2229768

.1783131

-1.25

0.212

-.5734392

.1274856

LOE

|

-.0055924

.0036078

-1.55

0.122

-.0126833

.0014986

_cons

|

-.1346136

.395774

-0.34

0.734

-.9124806

.6432535

--------------------------------------------------- ----------------------------

Source: Author collects, synthesizes and analyzes on Stata 13 . software

(obs=443)

| ROA GOE FOE IOE INF GDP LOD LOE

-------------+------------------------------------------------ ------------------------------------

ROA |

1,000 yen

    

GOE |

-0.1531

1,000 yen

  

FOE |

-0.0281

-0.1944

1,000 yen

 

IOE |

0.0905

-0.5059

-0.4010

1,000 yen

INF |

0.2014

0.0141

-0.0453

0.0069

1,000 yen

   

GDP |

0.1603

0.0439

-0.1126

0.0475

0.0186

1,000 yen

  

LOD |

-0.0066

-0.0158

-0.0057

-0.0345

0.1424

0.1611

1,000 yen

 

LOE |

-0.1113

0.2888

-0.0828

-0.1056

-0.0187

0.0926

0.1306

1,000 yen

Source: Author collects, synthesizes, calculates on Stata 13 . software

Variable | VIF 1/VIF

-------------+----------------------------

IOE

|

2.08

0.481093

GOE

|

1.93

0.519309

FOE

|

1.61

0.622197

LOE

|

1.12

0.890522

LOD

|

1.07

0.930802

GDP

|

1.05

0.956541

INF

|

1.03

0.975567

-------------+----------------------------

Mean VIF | 1.41

Source: Author collects, synthesizes, calculates on Stata 13 . software

overall = 0.0826 max = 16

 

Wald chi2(7)

=

49.66

corr(u_i, X)

= 0 (assumed)

Prob > chi2

=

0.0000

--------------------------------------------------- ----------------------------

ROA | Coef. Std. Err. z

|z| [95% Conf. Interval]

 

-------------+------------------------------------------------ ----------------------------

GOE

|

-.0077201

.0036628

-2.11

0.035

-.014899

-.0005412

FOE

|

-.0038417

.0044668

-0.86

0.390

-.0125965

.0049131

IOE

|

-.003261

.0036955

-0.88

0.378

-.0105041

.0039822

INF

|

.04065

.0091292

4.45

0.000

.0227572

.0585428

GDP

|

.1800536

.0485316

3.71

0.000

.0849334

.2751739

LOD

|

.3344323

.2032675

1.65

0.100

-.0639647

.7328293

LOE

|

-.0049379

.0034811

-1.42

0.156

-.0117607

.0018849

_cons

|

-.4124001

.4237042

-0.97

0.330

-1.242845

.4180448

-------------+------------------------------------------------ ----------------------------

sigma_u

|

.4406805

 

sigma_e

|

1.0072008

 

rho

|

.1606742

(fraction of variance due to u_i)

Source: Author collects, synthesizes and analyzes on Stata 13 . software

 

max

=

16

F(7,406)

 

=

8.58

Prob > F

 

=

0.0000

overall = 0.0537

corr(u_i, Xb) = -0.7007

--------------------------------------------------- ----------------------------

ROA | Coef. Std. Err. t

|t| [95% Conf. Interval]

 

-------------+------------------------------------------------ ----------------------------

GOE

|

-.026821

.0143622

-1.87

0.063

-.0550545

.0014125

FOE

|

-.0140063

.0076788

-1.82

0.069

-.0291014

.0010889

IOE

|

-.0078057

.0059725

-1.31

0.192

-.0195467

.0039353

INF

|

.038087

.0090977

4.19

0.000

.0202025

.0559716

GDP

|

.1672888

.049977

3.35

0.001

.0690428

.2655348

LOD

|

.7090213

.2249466

3.15

0.002

.2668158

1.151227

LOE

|

-.0048847

.0034879

-1.40

0.162

-.0117413

.001972

_cons

|

-.0744557

.5335636

-0.14

0.889

-1.123348

.9744365

-------------+------------------------------------------------ ----------------------------

sigma_u

|

.87556927

 

sigma_e

|

1.0072008

 

rho

|

.43042633

(fraction of variance due to u_i)

--------------------------------------------------- ----------------------------

F test that all u_i=0: F(29, 406) = 4.39 Prob > F = 0.0000

Source: Author collects, synthesizes and analyzes on Stata 13 . software

Appendix 8: Hausman test results

---- Coefficients ----

|

(b)

(B)

(bB)

sqrt(diag(V_b-V_B))

|

FEM

REM

Difference

SE

-------------+------------------------------------------------ ----------------------------

GOE

|

-.026821

-.0077201

-.01191009

.0138873

FOE

|

-.0140063

-.0038417

-.0101646

.0062459

IOE

|

-.0078057

-.003261

-.0045447

.0046919

INF

|

.038087

.04065

-.002563

.

GDP

|

.1672888

.1800536

-.0127648

.0119324

LOD

|

.7090213

.3344323

.374589

.0963499

LOE

|

-.0048847

-.0049379

.0000533

.0002187

--------------------------------------------------- ----------------------------

b = consistently under Ho and Ha; obtained from xtreg B = inconsistent under Ha, efficient under Ho; obtained from xtreg

Test: Ho: difference in coefficients not systematic chi2(7) = (bB)'[(V_b-V_B)^(-1)](bB)

= 27.88

Prob>chi2 = 0.0002

(V_b-V_B is not positive definite)

Source: Author collects, synthesizes and analyzes on Stata 13 . software

Appendix 9: Results of test of variance

Modified Wald test for groupwise heteroskedasticity in fixed effect regression model

H0: sigma(i)^2 = sigma^2 for all i chi2 (30) = 7283.41

Prob>chi2 = 0.0000

Source: Author collects, synthesizes and analyzes on Stata 13 . software

Appendix 10: Autocorrelation test results

Wooldridge test for autocorrelation in panel data H0: no first-order autocorrelation

F( 1.29) = 38,952

Prob > F = 0.0000

Source: Author collects, synthesizes and analyzes on Stata 13 . software

Appendix 11: Regression results by GLS method and handling of variable variance, autocorrelation treatment

Cross-sectional time-series FGLS regression Coefficients: generalized least squares Panels: heteroskedastic

Correlation: common AR(1) coefficient for all panels (0.4938)

Estimated covariances = 30 Number of obs = 443

Estimated autocorrelations = 1 Number of groups = 30

Estimated coefficients = 8 Obs per group: min = 7

avg = 14.76667

max = 16

Wald chi2(7) = 46.32

Prob > chi2 = 0.0000

--------------------------------------------------- ----------------------------

ROA | Coef. Std. Err. z

|z| [95% Conf. Interval]

 

-------------+------------------------------------------------ ----------------------------

GOE

|

-.0040306

.0014428

-2.79

0.005

-.0068585

-.0012028

FOE

|

.0064173

.002898

2.21

0.027

.0007374

.0120973

IOE

|

-.0011928

.0019061

-0.63

0.531

-.0049288

.0025431

INF

|

.0083881

.0044532

1.88

0.060

-.00034

.0171163

GDP

|

.0721791

.0274803

2.63

0.009

.0183188

.1260395

LOD

|

.2750988

.1293166

2.13

0.033

.021643

.5285546

LOE

|

-.0044765

.0029638

-1.51

0.131

-.0102853

.0013324

_cons

|

.3227337

.244498

1.32

0.187

-.15644737

.801941

--------------------------------------------------- ----------------------------

Source: Author collects, synthesizes and analyzes on Stata 13 . software

Appendix 12: Summary of regression results

--------------------------------------------------- --------------------------

Pooled REM FEM GLS

--------------------------------------------------- --------------------------

GOE

-0.00614***

-0.0268*

-0.00772**

-0.00403***

 

[-2.75]

[-1.87]

[-2.11]

[-2.79]

FOE

-0.00291

-0.0140*

-0.00384

0.00642**

 

[-0.95]

[-1.82]

[-0.86]

[2.21]

IOE

-0.00146

-0.00781

-0.00326

-0.00119

 

[-0.59]

[-1.31]

[-0.88]

[-0.63]

INF

0.0441***

0.0381***

0.0407***

0.00839*

 

[4.47]

[4.19]

[4.45]

[1.88]

GDP

0.196***

0.167***

0.180***

0.0722***

 

[3.79]

[3.35]

[3.71]

[2.63]

LOD

-0.223

0.709***

0.334*

0.275**

 

[-1.25]

[3.15]

[1.65]

[2.13]

LOE

-0.00559

-0.00488

-0.00494

-0.00448

 

[-1.55]

[-1.40]

[-1.42]

[-1.51]

_cons

-0.135

-0.0745

-0.412

0.323

 

[-0.34]

[-0.14]

[-0.97]

[1.32]

--------------------------------------------------- --------------------------

WOMEN

443

443

443

443

R-sq

0.103

0.129

  

--------------------------------------------------- --------------------------

t statistics in brackets

* p<0.1, **p<0.05, ***p<0.01

Source: Author collects, synthesizes and analyzes on Stata 13 . software

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Date published: 09/04/2022