The effects of free trade agreements on the stock market: Evidence from Vietnam Article Swipe
Huy Pham
,
Priyantha Mudalige
,
Hanh Le
,
Mai Bich Bui
,
Tran Hong Van Nguyen
,
Vikash Ramiah
,
Thanh Tuan Chu
,
Tuan Hung Vu
·
YOU?
·
· 2024
· Open Access
·
· DOI: https://doi.org/10.1371/journal.pone.0294456
YOU?
·
· 2024
· Open Access
·
· DOI: https://doi.org/10.1371/journal.pone.0294456
This study examines the effects of news events related to the European Union-Vietnam Free Trade Agreement (EVFTA) on the Vietnam stock market from 2010 to 2020. We calculate sectoral abnormal returns prior to, during, and after announcements and find that the Vietnamese stock market is susceptible to these events. We discovered that the announcement had a negative impact on the market, which might diminish the effectiveness of the Agreement. The findings show that more than half of Vietnam’s sectors had an immediate reaction to EVFTA announcements, with fourteen reacting negatively and six responding positively. Two of the ten events did not have any immediate impact on these industries but all events resulted in either early or delayed reactions. We also find market scepticism and major changes in the deal led to the emergence of a diamond risk structure. We run multiple robustness tests to account for market integration and other factors that may affect stock returns. In addition, we explore potential sectoral systematic risk changes following these occurrences using different ARCH-type models. These additional tests confirm the robustness of our findings.
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- Type
- article
- Language
- en
- Landing Page
- https://doi.org/10.1371/journal.pone.0294456
- https://journals.plos.org/plosone/article/file?id=10.1371/journal.pone.0294456&type=printable
- OA Status
- gold
- Cited By
- 3
- References
- 52
- Related Works
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- OpenAlex ID
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All OpenAlex metadata
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- DOI
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https://doi.org/10.1371/journal.pone.0294456Digital Object Identifier
- Title
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The effects of free trade agreements on the stock market: Evidence from VietnamWork title
- Type
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articleOpenAlex work type
- Language
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enPrimary language
- Publication year
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2024Year of publication
- Publication date
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2024-02-29Full publication date if available
- Authors
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Huy Pham, Priyantha Mudalige, Hanh Le, Mai Bich Bui, Tran Hong Van Nguyen, Vikash Ramiah, Thanh Tuan Chu, Tuan Hung VuList of authors in order
- Landing page
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https://doi.org/10.1371/journal.pone.0294456Publisher landing page
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https://journals.plos.org/plosone/article/file?id=10.1371/journal.pone.0294456&type=printableDirect link to full text PDF
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goldOpen access status per OpenAlex
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https://journals.plos.org/plosone/article/file?id=10.1371/journal.pone.0294456&type=printableDirect OA link when available
- Concepts
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Stock market, Robustness (evolution), Vietnamese, Stock (firearms), Monetary economics, Event study, Economics, Financial economics, Business, International economics, Geography, Biology, Gene, Archaeology, Context (archaeology), Biochemistry, Philosophy, LinguisticsTop concepts (fields/topics) attached by OpenAlex
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3Total citation count in OpenAlex
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2025: 1, 2024: 2Per-year citation counts (last 5 years)
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52Number of works referenced by this work
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10Other works algorithmically related by OpenAlex
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