Have the Real Estate Companies Value Decreased Due to the Covid-19 Pandemic? An Empirical Research in Vietnam

Abstract

Purpose: This study explores whether the covid-19 pandemic and the post-pandemic period will cause listed real estate businesses in Vietnam to fall into a recession like previous periods or experience sustainable growth? This study will explore the factors that affect the growth of the value of real estate companies listed on the Vietnam Stock Market in the period 2013 - 2022 to find the answer. Method: Using Panel Data regression to determine the impact of the growth of real estate companies value listed in Vietnam's Stock Exchange from 2013 to 2022. We use dummy variables to divide it into 2 period before and during the impact of the Covid-19 pandemic. Findings: This study reveals that there are 4 factors affecting the growth of real estate companies value: debt ratio with all levels of significance; fixed assets with significance level 10%, firm size at 5% significance level and the period before and during the Covid-19 pandemic. The remaining factors such as return on sale ratio, current ratio, asset turnover, gross domestic product growth, fixed capital efficiency have an influence on the growth of real estate companies value, but the statistical significance is uncertain. Research implication: The research findings have some recommendations to help listed real estate companies in Vietnam grow sustainably in the upcoming years.