Accounting Information and Stock Price of Consumer Good Companies Listed in Vietnam Stock Market in COVID Time

Abstract

Purpose: The study's objective is to find more empirical evidence on the relationship between accounting information on financial statements and stock prices of consumer good companies listed on the Vietnamese stock market in Covid time. Theoretical framework: Follow efficient market theory, in an efficient market, the actual price will immediately reflect new information about the intrinsic value of the firm, based on the idea that stock market prices will reflect public information available on the market (including financial information of enterprises). Design/Methodology/Approach: The sampling method was used to from 2019 to 2021 (the period when the Vietnamese and world economies were severely affected by the Covid-19 epidemic) through the analysis of OLS, FEM, REM, and GLS models and Stata17 software. Findings: The results show that DPS and EPS are two of the factors that have the most positive influence on stock prices during this period, while ROE is an indicator that harms companies' stock prices. Research, practical & social implications: Therefore, future studies regarding sample size and research space can be more extensive. In addition, it is possible to measure accounting information and stock prices by other statistical methods or other indicators to improve further the theoretical framework in the relationship between accounting information and stock price. Originality/Value: Thereby helping investors, businesses, and policymakers better understand the accounting information's role in the capital market, offering appropriate business and regulatory solutions to improve market efficiency.