SỐ 209 | Tháng 8/2023
Ảnh hưởng các yếu tố đến khả năng sinh lời của các ngân hàng thương mại: Bằng chứng thực nghiệm từ thị trường chứng khoán Việt Nam
Lê Đình Hạc, Nguyễn Vũ Duy, Nguyễn Phú Quốc, Ngô Văn Toàn
Tóm tắt:
Nghiên cứu này đánh giá ảnh hưởng các yếu tố đến khả năng sinh lời (KNSL) của ngân hàng thương mại (NHTM) niêm yết trên thị trường chứng khoán Việt Nam giai đoạn 2010–2021. Nghiên cứu này sử dụng phương pháp hồi quy phân vị (HQPV) và phương pháp sai số chuẩn hiệu chỉnh của dữ liệu bảng (panel-corrected standard errors - PCSEs) để kiểm định giả thuyết nghiên cứu. Kết quả cho thấy, quy mô ngân hàng, tính thanh khoản và lạm phát ảnh hưởng cùng chiều đến KNSL. Tuy nhiên, hiệu quả quản lý chi phí, đòn bẩy tài chính, chất lượng tín dụng và tăng trưởng kinh tế có ảnh hưởng ngược chiều đến KNSL của NHTM. Một số hàm ý chính sách như tăng quy mô, tăng tính thanh khoản, kiểm soát sử dụng đòn bẩy tài chính, gia tăng giám sát khoản vay và quản lý chi phí để giúp ngân hàng cải thiện KNSL. KNSL của ngân hàng không chỉ bị ảnh hưởng bởi các yếu tố bên trong ngân hàng mà còn bị ảnh hưởng bởi yếu tố vĩ mô. Môi trường kinh tế vĩ mô ảnh hưởng đáng kể đến KNSL của ngân hàng. Do đó, để gia tăng KNSL, các NHTM cần kiểm soát yếu tố bên trong dựa trên kinh tế vĩ mô để có chính sách thích hợp.
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Factors Affecting Profitability of the Commercial Banks: Empirical Evidence in Vietnam Stock Market
Quantile regression
commercial banks
panel-corrected standard errors (PCSEs)
profitability
ROA and ROE.
Abstract:
This study investigated the factors affecting the profitability of 25 commercial banks listed on the Vietnamese stock market between 2010 and 2021. The findings from quantile regression and PCSEs indicate that bank size, liquidity, and inflation positively impact profitability. In contrast, cost-to-income ratio, financial leverage, economic growth, and credit risk negatively influence the profitability of Vietnamese commercial banks. Based on these results, we suggest several policy implications to improve bank profitability, including increasing size and liquidity, controlling the use of financial leverage, and strengthening loan supervision and cost management. It is important to note that bank profitability is influenced by both internal and external factors, such as the macroeconomic environment, which can impact economic growth and inflation. Therefore, commercial banks must focus on managing internal factors and making appropriate adjustments based on the external macroeconomic situation to increase profitability.