The Impact of Covid-19 on Financial Performance of Listed Companies in Vietnam

Abstract

The article analyzes the impact of the Covid-19 shock on the financial performance of companies listed on the Vietnamese stock market. The data set covers 170 companies in many different industries with 2720 quarterly financial statements from 2018 to 2021. The model includes two dependent variables: ROA (Return on Total Assets) and ROE (Return on Equity); the independent variables: company size, operating time, leverage ratio, payout ratio, revenue growth, fixed asset investment, inflation rate, and gross domestic product; and the control variable is Covid-19. The results show that Covid-19 shock reduces the operational efficiency of listed enterprises in Vietnam.