Factors Affecting Stock Prices of Real Estate Enterprises Listed on Vietnamese Stock Markets

Abstract

This study analyzes the factors affecting the stock prices of Vietnamese real estate firms in the period 2012 – 2022. The study uses three methods to estimate panel data models, including the least squares model (pooled OLS), fixed effects model (FEM) and random effects model (REM). We use the Hauman test to select a suitable regression model. In addition, the author also checks the defects of the regression model and overcomes them with the general least squares model (FGLS) before drawing conclusions. The FGLS estimation results show that stock prices of real estate firms are affected by EPS, P/E, P/B, INF, LNSIZE and COVID. However, the study found no effect of GDP and ROE variables on stock prices.