The Relationship between Accounting Information Reported In Financial Statements And Stock Returns - Empirical Evidence From Vietnam

Tran Thi Thanh Hai, Nguyen Ngoc Diem, Ho Quoc Binh


Based on Easton & Harris model (1991), this study aims to investigate the relationship between accounting information reported in financial statements and stock returns. We collected the sample of 108 listed firms on the Ho Chi Minh stock market - the most developmental economic zone in Vietnam during the period of 4 years, from 2010 to 2013. In order to examine the relationship, this paper principally used quantity approach and data estimation techniques of Pooled Regression Model, Fixed Effects Model (FEM) and Random Effects Model (REM). We then utilized the Hausman Test to choose an appropriate model between FEM and REM. The results indicate that there is an association between accounting information and stock returns in Vietnam, but this association is considerably weak. It implies that the accounting information is less useful to make investment decisions in the Vietnamese stock market.

Full Text:




  • There are currently no refbacks.

Copyright (c) 2015 Tran Thi Thanh Hai, Nguyen Ngoc Diem, Ho Quoc Binh

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.

International Journal of Accounting and Financial Reporting  ISSN 2162-3082

Copyright © Macrothink Institute 

'Macrothink Institute' is a trademark of Macrothink Institute, Inc.

To make sure that you can receive messages from us, please add the '' domain to your e-mail 'safe list'. If you do not receive e-mail in your 'inbox', check your 'bulk mail' or 'junk mail' folders.