Government Intervention and Investment Efficiency: Empirical Evidence from Vietnam

The government ownership's impact on the investment efficiency of enterprises in transitional market – Vietnam was studied using model Tobin's Q, which measures interaction between spending and opportunities for investing as a scale. study exercises method linear regressions based OLS with sample 251 companies listed Ho Chi Minh Stock Exchange from 2015 to 2019. empirical results indicate that there is no relationship firm state-owned (SOEs). Furthermore, non-state-owned (non-SOEs), this exists at positively minimal level. In addition, also show negative leverage firm's Vietnam. Separately, association net operating cash flow expenditure SOEs while link size funds non-SOEs.