SOME FINANCIAL ACCOUNTING INFORMATION AFFECTING ENTERPRISE VALUE: EMPIRICAL EVIDENCE IN VIETNAM IN THE PERIOD 2015-2023

Abstract

The article examines the impact of some financial accounting information on enterprise value (Tobin's Q) of 582 non-financial enterprises listed on the
Vietnamese stock market in the period 2015-2023. The article used the LASSO method to filter appropriate financial accounting information, OLS, FEM, REM,
GLS regression methods combined with quantile regression method for analysis. The empirical research results show that there are 3 factors that positively affect
enterprise value, which are self-financing coefficient, earnings per common share and enterprise size. The remaining two factors that negatively affect firm value
are long-term debt ratio and gross profit margin, however at the 25th percentile regression level gross profit margin has a positive impact on firm value, which
suggests that a higher gross profit margin can be seen as a positive signal of improvement potential and core profitability for undervalued firms.