The determinants affecting performance of the oil and gas industry in Vietnam

Abstract

This study analyzed the impact of macroeconomic and financial factors on the performance of oil and gas companies listed on the Vietnamese stock market between 2012 and 2021. The findings of the research suggest that financial leverage, fixed asset ratio, exchange rate, and inflation rate negatively affect the performance of oil and gas companies. Conversely, company size, long-term debt ratio, and listing status positively impact the performance of these businesses. Furthermore, the research indicates that these financial and macro factors consistently impact the performance of oil and gas enterprises before and after their listing on the stock exchange. The study also highlights the changes in the factors that affect oil and gas companies during the COVID-19 pandemic. For instance, the leverage ratio, fixed asset ratio, long-term debt ratio, and inflation rate have been impacted by the pandemic. The results of this study provide managers with an understanding of the factors that affect the efficiency of oil and gas enterprises. As a result, they can make informed decisions when operating their businesses.