Impact of working capital management on the performance of Vietnamese listed oil and gas companies under the influence of the COVID-19 pandemic

Abstract

This paper discusses the impact of the COVID-19 pandemic on the impact of working capital management on the performance of 18 oil and gas enterprises listed on the Ho Chi Minh City Stock Exchange and Hanoi Stock Exchange from the first quarter of 2018 to the fourth quarter of 2021. The author used descriptive statistics method, regression analysis of panel data by Stata 17. The results show that the relationship between working capital management and performance of oil and gas enterprises the prepandemic and the post-pandemic period has changed; in the pre-pandemic period, enterprises reduced the cash conversion cycle to improve performance, this factor tends to increase in the post-pandemic period. Besides, the study also shows that working capital management is operating appropriately, helping businesses maintain and increase performance during this difficult period since the pandemic appeared and the oil and gas market is complicated.