臺灣博碩士論文加值系統

Using bank data of 14 commercial banks in Vietnam, this research intends to investigate the impact of bank-specific characteristics on Vietnam bank’s financial performance, during the period 2004 to 2009. The bank data are obtained from many financial statements. In this study return on assets (ROA) and return on equity (ROE) are represented financial performance measurement. Eight variables are drawn from the conventional banking literature as proxies for bank-specific. They are Credit Deposit Ratio (CDR), Credit to Total Assets Ratio (CTA), Total Operating Income to Total Assets Ratio (OITTA), Operating Expense to Net Income Ratio (OETNI), Total Assets to Equity Ratio (EM), Net Interest Income to Total Assets Ratio (NIM), Capital Adequacy Ratio (CAR) and Non Performing Loans Ratio (NPL).
This study found a negative significant relationship between ROA and Operating Expense to Net Income Ratio (OETNI), Credit to Total Assets (CTA), and Non Performing Loans Ratio (NPL); a positive relationship between ROA and Net Interest Income to Total Assets Ratio (NIM). This ROE model should be further studied in the future.
In conclusion, it is hoped that this study could provide not only bank managers, but also the governments of Vietnam countries, with a better understanding and a guideline to enhance the financial positions of Vietnam banks. This is important since Vietnam banks play a vital role in the current situation of the curb high inflation in Vietnam.

Using bank data of 14 commercial banks in Vietnam, this research intends to investigate the impact of bank-specific characteristics on Vietnam bank’s financial performance, during the period 2004 to 2009. The bank data are obtained from many financial statements. In this study return on assets (ROA) and return on equity (ROE) are represented financial performance measurement. Eight variables are drawn from the conventional banking literature as proxies for bank-specific. They are Credit Deposit Ratio (CDR), Credit to Total Assets Ratio (CTA), Total Operating Income to Total Assets Ratio (OITTA), Operating Expense to Net Income Ratio (OETNI), Total Assets to Equity Ratio (EM), Net Interest Income to Total Assets Ratio (NIM), Capital Adequacy Ratio (CAR) and Non Performing Loans Ratio (NPL).
This study found a negative significant relationship between ROA and Operating Expense to Net Income Ratio (OETNI), Credit to Total Assets (CTA), and Non Performing Loans Ratio (NPL); a positive relationship between ROA and Net Interest Income to Total Assets Ratio (NIM). This ROE model should be further studied in the future.
In conclusion, it is hoped that this study could provide not only bank managers, but also the governments of Vietnam countries, with a better understanding and a guideline to enhance the financial positions of Vietnam banks. This is important since Vietnam banks play a vital role in the current situation of the curb high inflation in Vietnam.

Table of Contents
ABSTRACT i
ACKNOWLEDGEMENTS iii
Table of Contents v
List of Tables vii
List of Figures viii
List of Abbreviations ix
Chapter 1 Introduction 1
1.1 The Background of Commercial Banks in VietNam 1
1.1.1 Definition of Commercial Bank 1
1.1.2 The Banking Context 2
1.1.3 The banking services 7
1.1.4 Functions of Commercial Banks 7
1.1.5 Management merchanism of the State Bank of Viet Nam to commercial banks 7
1.1.6 Roles of Vietnam Commercial Banking System 20 years after DOI MOI policy. 8
1.2 Objectives of the Study 8
1.3 The reasons for the study 9
1.4 Limitations of the study 9
1.5 Structure of the study 10
Chapter 2 Literature Review 12
2.1 A definition of performance 12
2.2 The financial performance 12
2.3 The related researches on financial performance and profitability in the banking sector 13
2.4 Some conclusions from previous studies 20
Chapter 3 Research Methodology 12
3.1 Sample and Data 12
3.2 Financial Performance Measures 13
3.3 Determinants of financial performance 25
3.4 Research method 29
3.4.1 Framework 29
3.4.2 Model 31
3.5 Data Analysis Techniques 32
Chapter 4 Results and Analysis 34
4.1 Summary Statistics 34
4.1.1 Descriptive Statistics 35
4.1.2 Correlation between Variables 37
4.2 The full regression results 38
4.3 The assumptions and testing 40
4.3.1 The assumptions and testing of ROA model 40
4.3.2 The assumptions and testing of ROE model 42
4.4 The reduced model of ROA and ROE 44
Chapter 5 Conclusions and Recommendation 52
5.1 Research Summary 52
5.2 Research Conclusion 52
5.3 Implications 54
5.4 Suggestion for Future Research 54
REFERENCES 56



List of Tables
Table 1Definitions, Notation and The Expected Effect of The Explanatory Variables on Bank Financial Performance. 24
Table 2.Name, notion, total assets, ROA and ROE of 14 commercial banks in Vietnam (Dec 31, 2009) 34
Table 3: Descriptive Statistics of ROA and ROE 36
Table 4 : Correlation Matrix between Variables 37
Table 5.Regression results for determinants of ROA (a) 39
Table 6.Regression results for determinants of ROE (a) 39
Table 7.The result of White Test for ROA model 40
Table 8.The result of Historgam Normality Test for ROA model 40
Table 9.The result of Breusch-Godfrey Serial Correlation LM Test for ROA model 41
Table 10.The results of R-square and Variance Inflation Factor 41
Table 11. The result of Ramsey RESET Test for ROA model 42
Table 12.The result of WALD Test for ROA model 42
Table 13.The result of White Test for ROE model 43
Table 14.The result of Historgam Normality Test for ROE model 43
Table 15.The result of Breusch-Godfrey Serial Correlation LM Test for ROE model 43
Table 16.The result of Ramsey RESET Test for ROE model 44
Table 17.The result of WALD Test for ROE model 44
Table 18.Regression results for determinants of ROA (b) 45
Table 19.Regression results for determinants of ROE (b) 45

List of Figures
Figure 1. Credit Growth in period 2000-2009. (Source: The State Bank) 3
Figure 2. CPI of each months in period 2006-2008. (Source: General Statistics Office) 3
Figure 3. Mobilize interest rate and CPI of each month in 2008. 4
Figure 4. Base interest rate, refinancial rate and discount rate. 4
Figure 5.The required reserve ratio in 2008. (Source: The State Bank) 5
Figure 6. Non-performing Loans Increase again. (Source: The State Bank) 6
Figure 7. Gross Domestic Product (GDP) in period 1995 - 2009 6
Figure 8. Theoretical Framework 30

List of Abbreviations
ACB Asia Commercial Bank

CTG Viet Nam Bank For Industry and Trade, VietinBank

EXIM Viet Nam Export Import Commercial Joint Stock Bank, Eximbank

MB The Military Commercial Joint- Stock Bank, Military Bank

MSB Vietnam Maritime Commercial Stock Bank, Maritime Bank

NAMA Nam A Bank

VCB Joint Stock Commercial Bank For Foreign Trade Of Vietnam, Vietcombank

VIB Vietnam international bank, VIBBank

VP Vietnam Joint Stock Commercial Bank for Private Enterprises, VPBank

SEA Southeast Asia Commercial Joint Stock Bank, SeABank

SGB Saigon bank for Industry and Trade, Saigonbank

STB Saigon Thuong Tin Commercial Joint Stock Bank, Sacombank

TECH Viet Nam Technological and Commercial Joint Stock Bank, Techcombank.

WB Western Commercial Joint Stock Bank, Western Bank

SOCBs The State state-owned commercial banks.
Non-SOCBs The non state-owned commercial banks
ROA Return on Assets
ROE Return on Equity
CDR Credit Deposit Ratio
CTA Credit to Total Assets Ratio
OITTA Total Operating Income to Total Assets Ratio
OETNI Operating Expense to Net Income Ratio
EM Total Assets to Equity Ratio
NIM Net Interest Income to Total Assets Ratio
CAR Capital Adequacy Ratio
NPL Non Performing Loans Ratio
GDP Gross Domestic Products

REFERENCES
1.Ahmad, J.B. (1996). Financial Analysis of Banking companies: with special reference to the Jammu and Kashmir Bank Limited, Ph.D. Thesis, University of Kashmir.
2.Ahmad, R., Ariff, M. and Skully, M., (2006) “The determinants of capital ratios at banking institutions: Evidence from Malaysia”, University of Malaya.
3.Asif Ahmed, “Financial performance comparison of top rated commercial banks of Bangladesh”.
4.Athanasoglou, P. P., Brissimis, S. N., Delis, M. D. (2008), “Bank-specific, industry- specific and macroeconomic determinants of bank profitability”, Journal of International Financial Markets, Institutions and Money, 18, 121-136.
5.Bashir, M. (1999), “Risk and profitability measures in Islamic banks: The case of two Sudanese banks”, Islamic Economic Studies, 6(2), 1-24.
6. Becker, W. E. (1995), Statistics: For Business and Economics, U.S: International Thomson Publishing.
7.Fairs Nasif Al – Shubiri (2010), Analysis of the relationship between market structure and profitability performance: the case of commercial banks in Jordan.
8.Inward FDI and manufacturing exports of Australia: A panel data analysis
by Pemasiri J. Gunawardana; Kishor Sharma
9.Kosmidou, Tanna and Pasiouras (2006), “Determinants of profitability of domestic UK commercial banks: Panel evidence from the period 1995-2002”, Applied Research Working Paper Series, Coventry University Business School.
10.Kosmidou, K. (2008), “The determinants of banks‟ profit in Greece during the period of EU financial integaration”, Managerial Finance, 34 (3), 146-159.
11.Laxman Gaddam, “Commercial banks in Saudi Arabia: a study of financial performance”
12.Lionel Miron, “Empirical Study of post - Takeover performance in banking industry: comparison between U.S. and European bank acquisitions”
13.Mamatzakis, E.C. and Remoundos P.C. (2003), “Determinants of Greek Commercial banks profitability, 1989 – 2000”, Spoudai, 53 (1), 84-94.
14.Messeret,” Financial Performance of Ethiopia Commercial Bank”, Research Report, Faculty of Business and Economics, Addis Ababa university, Ethiopia.
15.Naceur, B. (2003), “The determinants of the Tunisian banking industry profitability: Panel evidence”, Paper presented at the Economic Research Forum (ERF) 10th Annual Conference, Marrakesh-Morocco, 16-18 December, 1-17.
16.Noor Mohammad Al-Sabbagh, 2004, “Determinants of Capital Adequacy Ratio in Jordanian Banks
17.Peters, D., Raad, E. and Sinkey F. Joseph (2004), “The performance of banks in post-war Lebanon”, International Journal of Business, 9(3), 259-286.
18.Robert N. Lussier, “Management Concepts, Applications and Skill development”, International Thomson Publishers, USA, 1996.
19.Tarawneh, M. (2006), “A comparison of financial performance in the banking sector: Some evidence from Omani commercial banks”, International Research Journal of Finance and Economics, 3, 101-112.
20.Takang Felix Achou, Ntui Claudine Tenguh, “Bank performance and credit risk management”.
21.Timothy, W. Koach and S.Scott Macdonald, “Bank Management”, 5th Edition, Thomson Asia Pte. Ltd. Singapore, 2003, P.201,112,140.
22.Shah Kamal, “An Analysis of financial performance of Citibank, N.A. in Bangladesh”.
23.Several year Annual reports of commercial Banks