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  • ISSN[Online] : 2643-9875  ||  ISSN[Print] : 2643-9840

VOLUME 03 ISSUE 11 NOVEMBER 2020

Evaluation of the Liquidity of Pharmaceutical Firms Listed in the Hanoi Stock Exchange
1Nguyen Van Hau, 2Tran Thi Thu Thuy, 3Vu Thi The
1,3Faculty of Accounting, University of Labor and Social Affairs, Vietnam
2Finance and Accounting 1 Department, Posts and Telecommunications Institute of Technology, Vietnam
DOI : https://doi.org/10.47191/ijmra/v3-i11-03

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ABSTRACT:

This paper investigates the liquidity of pharmaceutical firms Listed in the Hanoi Stock Exchange (HNX) by using table data for the period 2015-2019. Four observedvariables were formulated including: (i) Cash Ratio (CR), (ii) Quick Ratio (QR), Current Ratio (CCR) and Interest Coverage Ratio (ICR). The findings conclude that have significantly different in the liquidity of pharmaceutical firms Listed in the HNX, in the long and shortrun. The implication of our results shows that the liquidity of pharmaceutical firms were interested by objects, including business administrators, creditor and other objects to have the necessary rationale for making a decision.

KEYWORDS

iquidity, pharmaceutical firms, financial ratios.

JEL CLASSIFICATION

M40, F65, E42

REFERENCES

1) Janbaz, M. (2010). Capital structure decisions in the Iranian corporate sector. International Research Journal of Finance and Economics, 8, 24-34.

2) Le, H. V. (2015). Capital structure and liquidity of Vietnamese companies. Banking Science and Training Review, 157, 66-71. [Vietnamese]

3) Luu, T. H., & Vu, D. H. (2011). Business Finance textbook. National Economics University Pushlisher.[Vietnamese]

4) Lyroudi, K., &Lazaridis, O. (2000). The Cash Conversion Cycle and Liquidity Analysis of the Food Industry in Greece. Social Science Research Network Electronic Paper Collection. NetDOI:10.2139/SSRN.236175.

5) Nguyen, D, T. (2014).Factors of affecting the liquidity of listed firms in Vietnam.Science research topic.[Vietnamese]

6) Nguyen, V. C. (2017). Business analysis textbook. . National Economics University Pushlisher. [Vietnamese]

7) TuyetNhi (2019a). Whatis Cash Ratio?Formula for calculation.Retrieved October 10, 2019 from https://vietnambiz.vn/[Vietnamese]

8) TuyetNhi (2019b). What is Interest coverage ratio? Formula for calculation. Retrieved October 10, 2019 from https://vietnambiz.vn/[Vietnamese]

9)Web:https://tinnhanhchungkhoan.vn/he-so-thanh-toan-nhanh-post67355.html;https://financevietstock.vn.[Vietnamese].

10) Yucel, T. and Kurt, G. (2002). Cash Conversion Cycle. Cash Management and Profitability: an Empirical Study on the ISE Traded Companies, the ISE Review, 6 (22), 3-15.

VOLUME 03 ISSUE 11 NOVEMBER 2020

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