The impact of factors of Vietnamese firms on ability to cross-list on Singapore Stock exchange

Abstract

Up to the end of 2018, Hoang Anh Gia Lai is the only Vietnamese company successfully cross listed
on the London Stock exchange. Although several Vietnamese companies have plan to do cross-listing they
have yet succeeded. This paper examines the impact of factors of Vietnamese firms on ability to cross-list. This
paper uses logistic regression analysis and Cox hazards model to predict cross-listing probability at Singapore
Stock exchange. The result shows that the firms size, ROA and the foreign ownership are significantly and
positively related to the ability of a SGX listing, while on the other hand, leverage, blockholder and state
ownership will decrease probability of listing in a given year from 2014 to 2018. Sale growth, foreign sale and
blockholder who own at least 10% of control right are not significant