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Abstract
This paper attempts to evaluate the role of Vietnam securities market as a capital mobilization channel for the economy through the activities on the primary market in the period between 2005 and 2013, focusing on Hanoi Stock Exchange. A summary of the establishment, development and operations of the secondary market in the period from 2005 to 2013 with information of size, liquidity of both stock and bond markets is also included. Through the analysis the efficiency of capital mobilization on the primary market, we find that the securities market is yet to become an efficient capital mobilization channel for companies. Therefore, in order for the securities market to develop safely and become an efficient capital mobilization channel, authorities need to have promoting policies, enhance the quality of market participants as well as the governance and operations of listed companies.
Issue: Vol 18 No 3 (2015)
Page No.: 105-120
Published: Aug 30, 2015
Section: Economics, Law and Management - Research article
DOI: https://doi.org/10.32508/stdj.v18i3.864
Copyright: The Authors. This is an open access article distributed under the terms of the Creative Commons Attribution License CC-BY 4.0., which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.
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