Purpose

This paper aims to investigate the decisions of listing for Vietnamese banks and the impact of listing on bank performance.

Design/methodology/approach

A longitudinal data set of 30 commercial banks in the period of 2006–2018 with various univariate and multivariate tests is used.

Findings

This study found that listing is positively associated with bank profitability. The results are consistent even after the control for potential endogeneity problems by propensity score matching methodology and Heckman selection bias models. Further analysis suggests some new alternative channels for the positive impact, namely, the increased quality of information disclosure, technological development and income diversification of commercial banks after listing.

Practical implications

Hence, this paper provides recommendations and policy implications for regulatory bodies regarding the listing of commercial banks in Vietnam.

Originality/value

The contributions to the literature are three-folds. First, this study contributes to a strand of literature on the impact of going public [initial public offering (IPO)/listing] of financial institutions on their performance. While the literature on non-financial firm performance post-going public is ample, few have directly considered the IPO/listing of banks and other financial institutions. Second, in further looking at the impact of listing on bank performance, this study also sheds some light on the new possible channels of the effect and provides evidence of new channels. Then, last but not least, the case of Vietnam could possibly yield interesting results for a transitory stock market. From the evidence, the recommendations and policy implications for a listing of Vietnamese banks are provided.

中文翻译：

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是列出还是不列出，这是一个问题：越南商业银行业绩的新证据

目的

本文旨在调查越南银行的上市决策以及上市对银行业绩的影响。

设计/方法/方法

使用了2006-2018年期间30家商业银行的纵向数据集，其中包含各种单变量和多变量检验。

发现

这项研究发现，上市与银行获利能力正相关。即使在通过倾向得分匹配方法和Heckman选择偏差模型控制了潜在的内生性问题之后，结果也是一致的。进一步的分析表明了一些产生积极影响的新途径，即信息公开质量的提高，技术发展以及上市后商业银行收入多元化的趋势。

实际影响

因此，本文为监管机构提供了有关越南商业银行上市的建议和政策含义。

创意/价值

对文学的贡献有三方面。首先，这项研究为有关金融机构上市[首次公开募股（IPO）/上市]对其业绩的影响提供了大量文献。尽管有关非金融公司上市后业绩的文献很多，但很少有人直接考虑银行和其他金融机构的IPO /上市。其次，在进一步研究上市对银行绩效的影响时，本研究还阐明了这种影响的新可能渠道，并提供了新渠道的证据。然后，最后但并非最不重要的一点，越南的案例可能会为暂时性的股票市场带来有趣的结果。根据证据，提供了有关越南银行上市的建议和政策含义。