State ownership, institutional ownership, and goodwill: Empirical research on listed firms in Ho Chi Minh Stock Exchange

Abstract

The purpose of this study is to determine factors affecting enterprise goodwill by using the population of 221 companies listed in the Ho Chi Minh Stock Exchange (HOSE) in the period 2011-2020. Therefore, suggestions are made to help investors evaluate the enterprise goodwill before giving any investment decisions. The result shows that the state ownership, the number of board members, and fixed assets have an effect on enterprise goodwill; institutional ownership, financial leverage, ROA, and ROE have no effect on enterprise goodwill.