IFRC Research

Intelligent Financial Research & Consulting

IFRC

Intelligent Financial
Research & Consulting

Address:Thien Son Plaza, Office 3.12, 800 Nguyen Van Linh, Phu My Hung, District 7, Ho Chi Minh city, VIET NAM
Phone:+84(08) 54 17 13 28
Website:www.ifrc.fr

IFRC France and Vietnam want to contribute to the empirical research in Finance in Vietnam, especially in the study of financial markets, and that is available to researchers for free on demand.

IFRC Research has already initiated several projects related to research:

Global Women CEO

Is the first step of a larger project on the relationship between corporate performance and governance which is covered both academic and financial approaches. Other topics will be the presence of women on boards, capital held by the state, capital held by foreign investors, or family businesses. This project is carried out in the different geographical areas as Vietnam, Southeast Asian and Asian Nations, Eurozone and European Markets and all over the world. 

www.globalwomenceo.com

 

Vietnam Economics & Financial Research Center (VNEFRC)

Is an academic cooperative project in order to centralize in a single point of access to different sources and types of data and documentation useful for research in Finance.

www.vnefrc.com

 

Vietnam Derivatives Market Initiatives (VNDMI)

Is an online trading platform which simulates a real trading environment and allows participants a risk-free opportunity to learn and trade derivatives.

www.ifrcvdm.com

 

VNX Indexes Research

Is a full dataset of Viet Nam indexes created from companies listed in Ha Noi stock exchange and in Ho Chi Minh stock exchange since 2008. This complete range of Viet Nam indexes proprose Benchmark indexes, Size indexes and Sectors indexes for specialized sectors.These indexes are calculated in Price and Total return versions and are converted into 4 different major currencies: VND, USD, EUR, JPY.

www.ifrcresearch.com

​IFRC Research Live:

Is an academic and professional cooperative project in order to deeply research Viet Nam financial market. This project considers innovation since these are dynamic academic articles that applies previous academic theories to Viet Nam and others countries. The aim is not only offering valuable information on finance for research but also helping investors to have evaluation or ideas to find out effective investment strategies. Based on various reliable sources of international stock markets and Viet Nam market, IFRC carries out and publishes on this website academic articles that are updated regularly (quarter for example).

www.ifrcresearch.com

HUYNH Thi Ngoc Han Dr. MAI Huu Minh MAI Thuy Vy
ASEAN WOMEN CEO PERFORMANCE  VIETNAM STATE OWNERSHIP  VIETNAM FOREIGN OWNERSHIP

 

60 Indexes
Last update: 2018-10-15

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  • ASEAN Women CEO Performance

    The WOMEN CEO project is the first step of a larger project on the relationship between performance and governance. We are doing in parallel other topics such as women on board, capital held by the state, or foreign investors, or family ownership. Starting from Vietnam, we extend this project to global listed companies.

    This report compares companies run by woman CEO in ASEAN countries (Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam), and other companies in term of number, market capitalisation and stock performance following different group levels: country, sector, and size.

    We calculate WOMEN CEO Equal Weighted indexes for countries having at least 10 companies led by woman (Malaysia, Philippines, Singapore, Thailand and Vietnam. and the WOMEN CEO ASEAN index comprising all companies. These indexes start at 1,000 at December 31, 2008.

     

    Conclusion

    Our first results clearly show that the companies grouped by country, sector, or size have a superior return compared to their national index or ASEAN area benchmark index. They overperform about 15% per year from 2009.

    The WOMEN CEO ASEAN Indexes Series will be extended to the capitalisation weighting, and the tradable WOMEN CEO ASEAN 40 ndex. This index could be an investment opportunity for financial products. Their figures and other information will be updated on the www.globalwomenceo.com website.

    Next steps

    With our academic partners, VCREME, ICN, EDC and SKEMA Business Schools (France) and University of Economics and Laws (Vietnam), we are trying to explain why WOMEN CEO companies outperform by controling other corporate performance measures (fundamental ratios for example), and factors such as gender, and CEO profil (experience, education, compensation, ...).

    In the second step, we will study the Executives Board of each company, and calculate the presence ratio of women. Like women CEO companies study, we will analyse the relation of the firm characteristics, the executive profile and the stock market or corporate performance of the company for about 40,000 companies of 41 countries of our universe.

    www.ifrcresearch.com/article/detail/asean-women-ceo-performance.html
  • Price Earning Ratio Effect

    While the relationship between financial ratios and firm performance has been widely researched, the empirical evidence has provided mixed results over the world. For Vietnam, the research on the subject are still few and cover a short period.

    Price to Earning ratio is one of the most essential financial ratios which contributes to achieve the highest return with the lowest risk, so it has become the noticeable topic for the investors. Most researchers were attempted to explain to the phenomenon that the P/E play as empirical measurement of company performance, and how P/E can illustrate listed companies’ growth rate and market trend.

     

    Among the main studies, The acticle “Is Forward P/E Ratio a Good Predictor for Market Returns?” ( Elizabeth Francis, January 16, 2013) shows that lower P/E ratios are typically followed by a rising market, while higher P/E ratios have predicted negative returns. Besides, the previous theoretical and empirical literatures (S. Basu, June 1977) indicated that returns on stocks with low P/E ratios tends to be larger than warranted by the underlying risks. In addition, the financial ratios as empirical predictors seem to play unique and complementary roles on stock return predictability (Sina Kheradyar, Prof. Izani Ibrahim, 2011). However, there are few to none articles or research’s been done regarding this topic in Viet Nam even though Viet Nam is a potential market that would be a lucrative market for investors .The Vietnam stock market, VN-Index increased significantly in 2013 with a growth rate of over 20% and secured the top place in Southeast Asia. Because of lacking of adequate information about this relation, the topic therefore is worthy of studying further on Vietnam stock market.

    www.ifrcresearch.com/article/detail/price-earning-ratio-effect.html
  • Vietnam Foreign Ownership

    While the relationship between foreign ownership and firm performance has been widely researched, the empirical evidence has provided mixed results over the world.

    For Vietnam, the research on the subject are still few and cover a short period. This study examines the relationship between foreign ownership and firm performance (stock market performance and fundamental ratios) of about 600 companies listed on Ho chi Minh and Hanoi stock exchanges since December 2008 in controlling different factors such as market (exchange), size (capitalisation) and sector. The next step will extend the study period to 2000.

     

    CONCLUSION

    This study has examined the effect of foreign ownership on firms performance in Vietnam between 2009 and 2014. The overall results indicate that foreign ownership improves firm financial performance in Vietnam up to a certain level, beyond which additional ownership isn’t allowed according to the Securities Law. These foreign-owned firms outperform the market because of an easier access to managerial know-how, external source of capital and transparency of information (Mariya Hake, 2008). According to Yla-Anttila, P., A. Jyrki, and N. Martti (2005), since the foreign-owned companies already have the technology, they don’t need to invest as much as the domestic so the rate of return is higher. Further studies will be required to measure this effect. By using financial ratios (EBITDA, ROA) we will be able to initiate further investigation. Because of the data limitations, it will be valuable to broaden our range of data back to 2000 to get more accurate results. In future work, it would be of interest to strengthen our study to offer portfolio strategies to help foreign investors in their decision process.

    www.ifrcresearch.com/article/detail/viet-nam-foreign-ownership.html
  • Vietnam State Ownership

    Nowadays, state ownership in business firms tend to change in Vietnam due to the powerful influence of the State on the country’s market.

    On March 6th 2014, after the official proclamation of Resolution No. 15/NQ-CP by the government, some solutions such as the state-owned Enterprises Restructuring Project (2011-2015) seem to emerge to accelerate the equalization process and reduce the State’s control on these companies. However the enterprises that have a 100% state control contribute to the main sectors of the economy and still create value according to the State Budget Law (Law on Enterprises of 2005 and Law on State Enterprises of 2013). Since there is no official and special regulation for Investment and Management of Invested State Capital in Business, the government encourages and gives favorable conditions for foreign investors according to the Foreign Investment Law (2005) to invest in Vietnam.

    While the relationship between state ownership and firm performance has been widely researched, the empirical evidence has provided mixed results over the world. For Vietnam, the research on the subject are still few and cover a short period.

     

    This study examines the relationship between state ownership and firm performance (stock market performance and fundamental ratios) of about 600 companies listed on Ho chi Minh and Hanoi stock exchanges since December 2008 in controlling different factors such as market (exchange), size (capitalisation) and sector. The next step will extend the study period to 2000.

    www.ifrcresearch.com/article/detail/viet-nam-state-ownership.html
2017

Investing in women

JPMorgan Chase & Co

Recognizing that women face unique barriers to professional success, JPMorgan Chase launched Women on the Move in 2013. The program began as a series of town halls for the firm's female employees in New York and offered an opportunity to collectively explore the challenges women face in the workplace and share ideas on how to best support career development.

Download
2016

Is Gender Diversity Profitable? Evidence from a Global Survey

Marcus Noland - Tyler Moran - and Barbara Kotschwar

Peterson Institute for International Economics

Analysis of a global survey of 21,980 firms from 91 countries suggests that the presence of women in corporate leadership positions may improve firm performance. This correlation could reflect either the payoff to nondiscrimination or the fact that women increase a firm’s skill diversity.

Download
2016

Gender Diversity in Senior Positions and Firm Performance: Evidence from Europe

Lone Christiansen - Huidan Lin

International Monetary Fund WP

This paper examines the link between gender diversity in senior corporate positions and financial performance of 2 million companies in Europe. We document a positive association between corporate return on assets and the share of women in senior positions and establish two potential channels through which gender diversity may affect firm performance. The positive correlation is more pronounced in, first, sectors where women form a larger share of the labor force (such as the services sector) and, second, where complementarities in skills and critical thinking are in high demand (such as high-tech andknowledge-intensive sectors).

Download
2016

Oil prices: Time for (nasty) second-round effects?

Frédéric Andrès - Thomas Cardiel - Marc Livinec - Daniela Ordóñez

Economic Insight - Euler Hermes Economic Research

Oil prices plummeted to a 12-year low in January on the back of large oversupply (60%), sluggish expected demand - especially from China - (30%), and speculation (10%). However, more than the spot price, the problem became the duration of this counter oil shock.

Download
2016

Oil prices: Time for (nasty) second-round effects?

Frédéric Andrès - Thomas Cardiel - Marc Livinec - Daniela Ordóñez

Economic Insight - Euler Hermes Economic Research

Oil prices plummeted to a 12-year low in January on the back of large oversupply (60%), sluggish expected demand - especially from China - (30%), and speculation (10%). However, more than the spot price, the problem became the duration of this counter oil shock.

Download
2016

Oil prices: Time for (nasty) second-round effects?

Frédéric Andrès - Thomas Cardiel - Marc Livinec - Daniela Ordóñez

Economic Insight - Euler Hermes Economic Research

Oil prices plummeted to a 12-year low in January on the back of large oversupply (60%), sluggish expected demand - especially from China - (30%), and speculation (10%). However, more than the spot price, the problem became the duration of this counter oil shock.

Download
2016

What drives crude oil prices?

Independent Statistics & Analysis

U.S. Energy Information Administration

An analysis of 7 factors that influence oil markets, with chart data updated monthly and quarterly

Download
2016

What drives crude oil prices?

Independent Statistics & Analysis

U.S. Energy Information Administration

An analysis of 7 factors that influence oil markets, with chart data updated monthly and quarterly

Download
2016

What drives crude oil prices?

Independent Statistics & Analysis

U.S. Energy Information Administration

An analysis of 7 factors that influence oil markets, with chart data updated monthly and quarterly

Download
  • Alpha

    Alpha is a coefficient that measures the performance, positive or negative, produced by an index relative to what could justify risk. A positive alpha indicates the profitability of the fund or portfolio or index is higher than its market and vice versa.

    The estimate of alpha is given by the Ordinary Least Squares in the Capital Asset Pricing Model (CAPM).

  • Base date

    The base date is the reference date for an index. It is the date from which the base value is chosen. The base date could be different to the first date.

  • Base value

    For an index, the base value is often arbitrary figure used as the initial value. Generally, it is 100 or 1,000.

  • Benchmark

    Reference Index (or Benchmark) is an index representing a market, a country, a region, ...

    It is characterized by a high number of values, variables and generally high level of representation in terms of capitalization and trading volume.

  • Beta

    The beta of a stock or an index measures the risk against a benchmark market that can be represented by a benchmark index. An index with a low risk will have low beta and vice versa. The beta is estimated by the CAPM model using ordinary least squares (OLS).

  • Blue Chip

    Blue Chip index is a composite of a small number, usually fixed to a core value, of stocks​​. It is characterized by a level of high representation in terms of market capitalization and trading volume.

  • Book-to-Price

    A ratio compares the book value of the company's assets to its price. Defined as the company's ordinary equity capital (from the most recent fiscal year end) divided by the company's market capitalisation at the review date.

  • CAB (Current account balance)

    Current account is all transactions other than those in financial and capital items. The major classifications are goods and services, income and current transfers. The focus of the BOP is on transactions (between an economy and the rest of the world) in goods, services, and income.

  • Capping

    The weight value ​​in an index could be capped to reduce their impact on the overall index performance and meet the requirements of European Directives (UCITS IV), for example.

  • Composition review

    The composition of the indices is reviewed regularly at the intervals specified in the rules. The intervals could be monthly, quarterly and semi-annually.

  • Contract Specification

    A derivative exchange designs its own products and publishes a contract specification setting out the details of the derivative contract. This will include the size or unit of trading and the underlying, maturity months, quotation and minimum price movement and value together with trading times, methods and delivery condition.

  • Futures products

    A futures contract ( or Futures as in English) is a firm delivery standard, whose characteristics are known in advance, covering:

    - A specific amount of an underlying asset precisely defined,

    - To date, called maturity

    - A given place, and traded on an organized futures exchange.

  • Options products

    An option is a derivative that establishes a contract between a buyer and a seller. The buyer of the option obtains the right, not the obligation, to buy (call) or sell (put) an underlying asset at a price fixed in advance (strike), at a time or a given date. This contract may be viewed with a speculation or insurance.

    (More detail, see Wikipedia)

  • Protective Put (Married Put)

    This strategy is a hedge against a temporary dip in the stock's value. The protective put buyer retains the upside potential of the stock, while limiting the downside risk.

  • Employment

    Proportion of a country’s population that is employed. Ages 15 and older are generally considered the working-age population.

  • LP (Population)

    Population is a World Bank estimate for mid-year population, based, in most cases, on a de facto definition, which counts all residents regardless of legal status or citizenship.

  • LUR (Unemployment rate)

    Unemployment rate can be defined by either the national definition, the ILO harmonized definition, or the OECD harmonized definition. The OECD harmonized unemployment rate gives the number of unemployed persons as a percentage of the labor force (the total number of people employed plus unemployed). [OECD Main Economic Indicators, OECD, monthly] As defined by the International Labour Organization, "unemployed workers" are those who are currently not working but are willing and able to work for pay, currently available to work, and have actively searched for work.

  • PCPI (Inflation, average consumer prices)

    Inflation is a sustainable increase in the general price level, often measured by an index of consumer prices. The rate of inflation is the percentage change in the price level in a given period.

    Data for inflation are averages for the year, not end-of-period data.

  • Alpha

    Alpha is a coefficient that measures the performance, positive or negative, produced by an index relative to what could justify risk. A positive alpha indicates the profitability of the fund or portfolio or index is higher than its market and vice versa.

    The estimate of alpha is given by the Ordinary Least Squares in the Capital Asset Pricing Model (CAPM).

  • Beta

    The beta of a stock or an index measures the risk against a benchmark market that can be represented by a benchmark index. An index with a low risk will have low beta and vice versa. The beta is estimated by the CAPM model using ordinary least squares (OLS).

  • Currency

    Indexes are sometimes calculated in currencies other than the local currency to measure the effective performance of a foreign investor buying or selling shares from another currency.

    • CODE, Currency, Country
    • AED, United Arab Emirates dirham, United Arab Emirates
    • ARS, Argentine peso, Argentina
    • AUD, Australian dollar, Australia
    • BAM, Bosnia and Herzegovina convert, Bosnia and Herzegovina
    • BDT, Bangladeshi taka, Bangladesh
    • BGN, Bulgarian lev, Bulgaria
    • BHD, Bahraini dinar, Bahrain
    • BMD, Bermudian dollar (customarily, Bermuda
    • BRL, Brazilian real, Brazil
    • BWP, Botswana pula, Botswana
    • CAD, Canadian dollar, Canada
    • CHF, Swiss franc, Switzerland
    • CLP, Chilean peso, Chile
    • CNY, Chinese yuan, China (Mainland)
    • COP, Colombian peso, Colombia
    • CRC, Costa Rican colon, Costa Rica
    • CZK, Czech koruna, Czech Republic
    • EGP, Egyptian pound, Egypt
    • EUR, Euro, 17 European Union countries
    • GBP, Pound sterling, United Kingdom
    • GHS, Ghanaian cedi, Ghana
    • HKD, Hong Kong dollar, Hong Kong Special Administrative Region
    • HRK, Croatian kuna, Croatia
    • HUF, Hungarian forint, Hungary
    • IDR, Indonesian rupiah, Indonesia
    • ILS, Israeli new sheqel, Israel
    • INR, Indian rupee, Bhutan
    • ISK, Icelandic króna, Iceland
    • JMD, Jamaican dollar, Jamaica
    • JOD, Jordanian dinar, Jordan
    • JPY, Japanese yen, Japan
    • KES, Kenyan shilling, Kenya
    • KRW, South Korean won, South Korea
    • KWD, Kuwaiti dinar, Kuwait
    • KZT, Kazakhstani tenge, Kazakhstan
    • LAK, Lao kip, Laos
    • LKR, Sri Lanka rupee, Sri Lanka
    • LVL, Latvian lats, Latvia
    • MAD, Moroccan dirham, Morocco
    • MKD, Macedonian denar, Republic of Macedonia
    • MNT, Mongolian tugrik, Mongolia
    • MUR, Mauritian rupee, Mauritius
    • MXN, Mexican peso, Mexico
    • MYR, Malaysian ringgit, Malaysia
    • NGN, Nigerian naira, Nigeria
    • NOK, Norwegian krone, Norway
    • NZD, New Zealand dollar, Cook Islands
    • OMR, Omani rial, Oman
    • PAB, Panamanian balboa, Panama
    • PEN, Peruvian nuevo sol, Peru
    • PHP, Philippine peso, Philippines
    • PKR, Pakistani rupee, Pakistan
    • PLN, Polish złoty, Poland
    • QAR, Qatari rial, Qatar
    • RON, Romanian new leu, Romania
    • RSD, Serbian dinar, Serbia
    • RUB, Russian rouble, Russia
    • SAR, Saudi riyal, Saudi Arabia
    • SEK, Swedish krona/kronor, Sweden
    • SGD, Singapore dollar, Singapore
    • THB, Thai baht, Thailand
    • TND, Tunisian dinar, Tunisia
    • TRY, Turkish lira, Turkey
    • TWD, New Taiwan dollar, Taiwan and other islands that are under the effective control of the Republic of China (ROC)
    • TZS, Tanzanian shilling, Tanzania
    • UAH, Ukrainian hryvnia, Ukraine
    • USD, United States dollar, USA
    • VND, Vietnam Dong, Vietnam

  • ETF Products

    Trackers or ETFs ( Exchange Traded Funds) are mutual funds that replicate the performance of an index. Trackers (or ETFs) work like index funds. As the peculiarity of the trackers is to be continuously traded, you can buy in cash or use SRD (Deferred Settlement Service) and sell like stocks.

  • ISIN

    An International Securities Identification Number (ISIN) uniquely identifies a security. Its structure is defined in ISO 6166

  • Book-to-Price

    A ratio compares the book value of the company's assets to its price. Defined as the company's ordinary equity capital (from the most recent fiscal year end) divided by the company's market capitalisation at the review date.

  • CAB (Current account balance)

    Current account is all transactions other than those in financial and capital items. The major classifications are goods and services, income and current transfers. The focus of the BOP is on transactions (between an economy and the rest of the world) in goods, services, and income.

  • Current ratio

    Current ratio is a financial ratio that measures whether or not a firm has enough resources to pay its debts over the next 12 months. It compares a firm's current assets to its current liabilities.

    If a company's current ratio is in this range, then it generally indicates good short-term financial strength. If current liabilities exceed current assets (the current ratio is below 1), then the company may have problems meeting its short-term obligations.

  • Debt to Assets

    This ratio calculates the proportion of a company's debt to its assets.

  • Debt To Capital

    This ratio measure total debt of a company toward its total capital.

  • Debt-to-asset ratio

    An indicator of financial leverage. It tells you the percentage of total assets that were financed by creditors, liabilities, debt.

  • Dividend Yield

    Dividend yield is a term to measure how much cash flow you earn for each dollar (or other currency) invested in an equity position.

  • Growth Company

    These companies are expected to have high growth rates. Growth stocks are often characterized by favourable fundamental ratios such as steadily increasing revenue growth as well as steadily increasing earnings. Those investing in a growth company are investing on the basis of the anticipated growth of the company.

  • Interest-coverage-ratio

    The formula for the interest coverage ratio is used to measure a company's earnings relative to the amount of interest that it pays. The interest coverage ratio is considered to be a financial leverage ratio in that it analyzes one aspect of a company's financial viability regarding its debt.

  • Base date

    The base date is the reference date for an index. It is the date from which the base value is chosen. The base date could be different to the first date.

  • Base value

    For an index, the base value is often arbitrary figure used as the initial value. Generally, it is 100 or 1,000.

  • Benchmark

    Reference Index (or Benchmark) is an index representing a market, a country, a region, ...

    It is characterized by a high number of values, variables and generally high level of representation in terms of capitalization and trading volume.

  • Blue Chip

    Blue Chip index is a composite of a small number, usually fixed to a core value, of stocks​​. It is characterized by a level of high representation in terms of market capitalization and trading volume.

  • Capping

    The weight value ​​in an index could be capped to reduce their impact on the overall index performance and meet the requirements of European Directives (UCITS IV), for example.

  • Composition review

    The composition of the indices is reviewed regularly at the intervals specified in the rules. The intervals could be monthly, quarterly and semi-annually.

  • Corporate actions

    Securities transactions (or DTS), or Corporate Actions in English, describe the events involved in the life of a securities

    - Dividend payment

    - Capital increase

    - OPA...

    We can distinguish operations that affect the course or the number of titles that require an adjustment in the indices.

  • Free float

    Free float is a proportion (often expressed as a percentage) of shares that are actually traded in the market. This is a factor that’s taken into account of the weight ​​of an index, especially Blue Chip or Tradable indexes.

  • Free float banding

    The floating, in the free float of a listed company is part of actions that can effectively affect the stock market. It can be expressed in value or more frequently as a percentage of capitalization.

    It is difficult to estimate a given floating due to the absence of certain information. It is necessary to round the estimate to smooth out errors.

    The float will be rounded to 5%, 10% or more depending on the data providers. STOXX even offers a float to two decimal places.

  • Leverage Indice

    The leverage index is used to amplify the rise or fall of the market, in the same or opposite direction with the market.

    There are two main types of leverage indices:

    - The "Leverage" Indices or Bull

    - The "Short" Indices or Bear

  • Global Women CEO Project

    The Women CEO Project is global and the first step of a larger project on the relationship between corporate performance and governances

    Other topics will be the presence of women on boards.

    This will be achieved using two approaches:

    • The first is academic, through empirical researches, publications in financial journals verifying the existence of this relationship, seeking the influence of factors such as the development (frontiers, emerging or developed markets), culture, religion, education… of the countries in question.
    • The second is financial by creating a financial portfolio strategy as measured by an index into the final objective to propose investable products as funds or structured products. The index thus constructed will be somehow a continuous measurement of the performance if any. In the second step, if the data are available, we extend this research to private equities.

    www.globalwomenceo.com
  • IFRC

    IFRC is a multi-services company. IFRC’s principal products and services are Financial Services and Products for Capital Markets, Research, Training, Management Consulting and IT services

    Customized index, created by our team of index professionals, in our flagship product.

    We are committed to provide the highest quality services and products throughout the index creation and maintenance process such as: data mining, design, development, dissemination, maintenance, support, education and research.

    www.ifrc.fr
  • IFRC Education

    Special portal of IFRC for Education. IFRC offers some specific courses about Financial, Derivatives Market and Products.

    With a team of experienced experts in Finance, particularly in Europe financial market and in Viet Nam financial market, IFRC provides financial courses on demand:   Financial markets and products, Portfolio management, Technical analysis, Hedging, Derivatives financial instrument, Applied mathematical.

    www.ifrcedu.com
  • IFRC Indexes

    IFRC Indexes and Services

    International Indexes Observatory provide index specifications and performance figures

    IFRC can then help you in promotion and marketing of your indexes. We also have consulting services on issues related to index.

    Through our website, you can get huge information about Viet Nam indexes and international indexes as well. Thanks to specialized tools for index, we compare and analyze by yourself the different indexes that interest you.

    www.ifrcindex.com
  • IFRC Research

    IFRC France and Vietnam want to contribute to the empirical research in Finance in Vietnam

    Our company has already initiated several projects related to research: Global Women CEO, VIETNAM Economics & Financial Research Center (VNEFRC), VIETNAM Derivatives Market Initiatives (VNDMI).

    www.ifrcresearch.com
  • IFRC VNX Indexes

    Intelligent Financial Research & Consulting (IFRC) initiatives to create a Vietnam geographical economic index measuring the economic efficiency of provinces, cities and regions in Vietnam.

    This family comprises of 400 representative indices, including Benchmark, Size, Sectors, Blue Chips, Strategy and Theme indexes, calculated in Price and Total return versions and converted into 4 different major currencies: VND, USD, EUR and JPY. They are historically reconstructed since 2008.

    They bring to investor:

    • A measure coherent with international standards that reflects Vietnam index performance Information with high transparence about how the index family is designed, selected and managed day to day
    • Complete index data available for the investors research
    • Tradable indexes that can serve as basis for structured products and other index-linked investment vehicles as response to the development of the Vietnam market

    www.vnxindex.com
  • Vietnam Derivatives Market Initiatives

    Vietnam Derivatives Market Initiatives (ifrcvdm.com) is an online trading platform which simulates a real trading environment and allows participants a risk-free opportunity to learn and trade derivatives

    VNDMI simulates a real trading environment and allows participants a risk-free opportunity to learn and trade derivatives on equities, bonds, or commodities as well as test their trading knowledge and market savvy.

    ifrcvdm.com
  • Vietnam Economics & Financial Research Center

    Vietnam Derivatives Market Initiatives (ifrcvdm.com) is an online trading platform which simulates a real trading environment and allows participants a risk-free opportunity to learn and trade derivatives

    The information mainly cover Vietnam and Asian regions. Comparative data from other countries and regions are also available.

    Empirical research concerning financial markets is currently hindered by several factors, among others the high access costs to financial and stock exchange data and the difficulty to obtain quality data. That is why the VNEFRC works to create verified, controlled and homogeneous databases over long periods, the same way CRSP does with American data, or EUROFIDAI for Europe.

    The database covers different areas: economics, commodities, currencies, interest rates, bonds, equities, indexes, mutual funds, ... for vietnamese and international markets. The second mission consists of building a bibliographical database on the research production in finance in universities and research centers, indexing finance theses and working papers, along with links to the original documents.

    The third mission is to offer high output computing capabilities, available to researchers who are interested in short term access to high performance and volume computing. With cloud computing technology and servers, the VNEFRC can provide researchers with an on-demand computer cluster for the required short period.

    www.vnefrc.com
  • VNX Provincial indexes

    Intelligent Financial Research & Consulting (IFRC) initiatives to create a Vietnam geographical economic index measuring the economic efficiency of provinces, cities and regions in Vietnam.

    At the national level, Vietnam is trying to improve its competitiveness and international integration. Within the scope of local, regional leaders (province, city) were also eager to reform and develop policies and strategies for local economic development. The competition is silent, drastic and effective but has not been evaluated completely.

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