Abstract

This paperwork gives some quantitative results based on evaluating the market risk of the listed firms in the Viet nam medical and human resource industry, esp. after the financial crisis 2009-2011. First, by using quantitative and analytical methods to estimate asset and equity beta of total 45 listed companies in Viet Nam medical and human resource industry with a proper traditional model, we found out that the beta values, in general, for many institutions are acceptable. Second, we recognized that the risk level, measured by equity and asset beta mean, decreases when using leverage (asset beta mean value of 0,316 decreasing from equity beta mean of 0,528). Third, by changing leverage in 3 scenarios, we recognized the dispersion of risk level, measured by equity beta var of 0,711, in the medicine industry is the highest (but acceptable), compared to the rest 2 industries. Finally, this paper provides some outcomes that could provide companies and government more evidence in establishing their policies in governance.

Keywords: Equity beta; Financial structure; Financial crisis; Risk; External financing; Medical industry