Khóa luận tốt nghiệp factors influencing the liquidity of commercial banks in vietnam

TABLE OF CONTENTS ABSTRACT TABLE OF CONTENTS DECLARATION OF AUTHENTICITY ACKNOWLEDGEMENT LIST OF ABBREVIATIONS LIST OF TABLES LIST OF GRAPHS CHAPTER 1: INTRODUCTION 1.1 INTRODUCTION 1.2 THE NOVELTY OF THE TOPIC 1.3 THE AIM OF THE THESIS 1.3.1 Overall objectives 1.3.2 Particular objectives 1.4 THE RESEARCH QUESTIONS 1.5 SUBJECT AND SCOPE OF THE RESEARCH 1.6 METHODOLOGY 1.7 RESEARCH CONTENT 1.8 CONTRIBUTION OF THE THESIS 1.9 THE PROPOSED LAYOUT OF THE THESIS SUMMARY OF CHAPTER CHAPTER 2: THEORETICAL FRAMEWORK 2.1 LIQUIDITY OF COMMERCIAL BANKS 2.1.1 Liquidity concept 2.1.2 Bank liquidity 2.1.3 Supply and demand of liquidity and net liquidity position 2.2 LIQUIDITY MEASUREMENT METHOD 11 2.2.1 Liquidity gap measurement method 11 2.2.2 Liquidity ratio measurement method 12 2.3 FACTORS INFLUENCING BANK LIQUIDITY 13 2.3.1 Group of factors inside the bank 13 2.3.2 Group of factors outside the bank 15 2.4 EMPIRICAL RESEARCH OVERVIEW 16 2.4.1 Foreign research 16 2.4.2 Domestic research 18 2.4.3 The research gaps 19 SUMMARY OF CHAPTER 20 CHAPTER 3: RESEARCH MODEL 21 3.1 ANALYSIS PROCESS 21 3.2 SAMPLES AND RESEARCH DATA 23 3.2.1 Research samples 23 3.2.2 Research data 23 3.2.3 Research tools 23 3.3 METHODOLOGY 24 3.3.1 Qualitative method 24 3.3.2 Quantitative method 24 3.4 RESEARCH MODEL AND HYPOTHESIS 25 3.4.1 Research model 25 3.4.2 Description of variables and hypotheses 26 SUMMARY OF CHAPTER 30 CHAPTER 4: RESEARCH RESULTS 31 4.1 DESCRIPTIVE STATISTICS 31 4.2 RESEARCH RESULTS 33 4.2.1 Correlation analysis 33 4.2.2 Multicollinearity test 35 4.3 REGRESSION RESULTS OF THE RESEARCH MODEL 36 4.3.1 Comparison of regression results between two models, Pooled OLS and FEM 37 4.3.2 Comparison of regression results between two models, FEM and REM 37 4.3.3 Defect tests 38 4.3.4 Final model 39 4.4 SUMMARY 40 4.4.1 Bank size (SIZE) 40 4.4.2 Equity ratio (CAP) 41 4.4.3 Loan-to-deposit ratio (LDR) 41 4.4.4 4.4.5 4.4.6 4.4.7 Return on equity (ROE) 42 Non-performing loan ratio (NPL) 42 Economic growth rate (GDP) 42 Inflation rate (INF) 43 SUMMARY OF CHAPTER 44 CHAPTER 5: CONCLUSION AND POLICY IMPLICATIONS 45 5.1 CONCLUSION 45 5.2 POLICY IMPLICATIONS 46 5.2.1 For commercial banks 46 5.2.2 For the State Bank of Vietnam 47 5.3 LIMITATIONS OF THE THESIS 48 5.4 PROPOSING DIRECTIONS FOR FURTHER RESEARCH 49 SUMMARY OF CHAPTER 50 REFERENCES 51 APPENDIX 53 APPENDIX A LIST OF COMMERCIAL BANKS IN VIETNAM IN THE RESEARCH SAMPLE 53 APPENDIX B CALCULATED DATASET 55 APPENDIX C REGRESSION RESULTS WITH STATA 16.0 69 DECLARATION OF AUTHENTICITY I declare that this is my independent thesis The data used in the thesis are of clear origin and published following the law The research results in the thesis are my research and analysis, honestly, objectively, and by following the reality of Vietnam These results have not been published in any previous papers Ho Chi Minh City, November 2022 The Author Hoang Dang Khai ACKNOWLEDGEMENT Firstly, I would like to send my profound gratitude to all the lecturers at Banking university, in the Office of Academic Affairs, and especially to the Department of Finance and the Department of Banking lecturer while studying for a bachelor’s degree at the Ho Chi Minh University of Banking Secondly, I would like to express my sincerest and most profound thankfulness to Dr Nguyen Duy Linh for his guidance and patience in giving me valuable recommendations during my study period I am happy and fortunate to carry out this study under his supervisor Lastly, I would like to thank my family for their support during my study and life Without encouragement and sacrifice, I would not have finished this thesis, so I express my special love and gratitude to them In the implementation process, mistakes are inevitable despite consulting, exchanging, and absorbing suggestions from teachers and friends With the effort to improve more and more, I look forward to receiving valuable advice from teachers and friends I sincerely thank! LIST OF ABBREVIATIONS CPI Consumer Price Index FEM Fixed Effects Model FGLS Feasible Generalized Least Squares GSO General Statistics Office JSCBs Joint Stock Commercial Banks NLP Net Liquidity Position POLS Pooled Ordinary Least Square REM Random Effects Model SBV State Bank Of Vietnam VIF Variance Inflation Factor LIST OF TABLES Table 2.1: Banking activities forming the supply and demand for liquidity 10 Table 3.1: Description of variables in the research model 26 Table 4.1: Variable Statistics 31 Table 4.2: Correlation matrix 33 Table 4.3: Multicollinearity test 35 Table 4.4: Regression results of models 36 Table 4.5: F-test test 37 Table 4.6: Hausman test 37 Table 4.7: Modified Wald test 38 Table 4.8: Wooldridge test 38 Table 4.9: Regression result of FGLS 39 Table 4.10: Summary of expected hypothesis and experimental results 40 LIST OF GRAPHS Graph 3.1: Research process 21 CHAPTER 1: INTRODUCTION 1.1 Introduction In theory, the liquidity of commercial banks is considered as the ability to meet the immediate needs of commercial banks for money, such as withdrawing deposits and disbursing committed credits, paying the costs of operations, or other needs to be paid by cash Liquidity is a crucial factor determining the safety of commercial banks A bank default due to the lack of liquidity will cause a domino effect on other commercial banks A typical example of this is the global financial crisis in 2008 due to the weakness of the financial system, specifically the lack of liquidity at commercial banks During the global financial crisis, many banks had to find ways to maintain liquidity Despite the financial help of the central bank, many banks still had to declare bankruptcy, and some were forced to merge with other banks Many commercial banks, although profitable, can still face difficulties in asset and capital management, which has led to a liquidity crisis After the banking system crisis in 2008, Basel III was officially introduced in 2013, with regulations relating to liquidity factors in order to minimize the economic damage caused by banks may cause In Vietnam, the state bank also imposed some regulations to ensure more liquidity for commercial banks According to Circular No 22/2019/TT-NHNN, dated November 15, 2019, of the State Bank of Vietnam stipulating the limits and ratios to ensure safety in operations of banks and foreign bank branches, from on January 1, 2020 (the effective date of the circular), the maximum loan-to-deposit ratio (LDR) is at 85% The maximum rate of short-term capital used for medium and long-term loans of banks and foreign bank branches currently applied by the State Bank is 34% from October 1, 2021, to the end of May 30, September 2022, then reduced to 30% from October 1, 2022, according to the latest revised Circular 22/2019/TT-NHNN In the face of the constantly changing and volatile situation of Vietnam's financial sector in general and the banking industry in particular, the study was conducted to determine the factors affecting the liquidity of Vietnam's commercial banking system in the current context Banks are one of the vital components of each country's economy; they play a crucial role in regulating the macroeconomy through credit financing, facilitating the process of integration of economic and production activities Along with its essential role, banking governance is also an extremely important issue for governments in monitoring and management, in which liquidity is the top priority in banking governance Liquidity has long played an essential role in deciding the existence and development of each commercial bank in particular and the commercial banking system in general In recent times, the world economy and global financial markets have been continuously negatively affected by the Russia-Ukraine conflict, which has pushed up the prices of oil, gold, and other essential commodities due to sanctions, embargos from the West, and retaliatory measures from Russia Inflation has been running high for over a decade, prompting major central banks to race to raise interest rates to cool it down In Vietnam, after the pandemic passed and the economy reopened, commercial banks disbursed at full capacity to boost production and accelerate economic recovery Therefore, the depletion of the credit room occurred from the beginning of 2022 and caused commercial banks to apply and request the State Bank to lose the credit room to be able to disburse credit Continuous hot credit growth will create many difficulties and obstacles in meeting liquidity needs in the future as well as in banking governance in a volatile world economy like today Liquidity issues of commercial banks in Vietnam are always a hot topic of interest at the beginning of each year The goal of liquidity is to ensure the bank's continuous and stable operation If banks have good liquidity, it will help stabilize the financial market as well as promote the smooth operation of the economy Therefore, LPB 2014 0.1154 18.4287 0.0733 0.4502 0.0631 0.0123 0.0598 0.0409 LPB 2015 0.0724 18.4938 0.0706 0.6107 0.0460 0.0880 0.0668 0.0063 LPB 2016 0.1560 18.7704 0.0587 0.6060 0.1276 0.0111 0.0621 0.0267 LPB 2017 0.1480 18.9119 0.0574 0.6717 0.1458 0.0107 0.0681 0.0352 LPB 2018 0.0744 18.9808 0.0583 0.7769 0.0941 0.0141 0.0708 0.0354 LPB 2019 0.0965 19.1241 0.0623 0.7604 0.1272 0.0145 0.0702 0.0280 LPB 2020 0.1011 19.3059 0.0587 0.7871 0.1308 0.0143 0.0291 0.0323 LPB 2021 0.1220 19.4826 0.0581 0.7816 0.1710 0.0064 0.0258 0.0184 MBB 2012 0.2863 18.9838 0.0733 0.4824 0.1804 0.0186 0.0525 0.0910 MBB 2013 0.1957 19.0106 0.0840 0.5390 0.1509 0.0246 0.0542 0.0659 MBB 2014 0.1954 19.1163 0.0826 0.5631 0.1511 0.0276 0.0598 0.0409 MBB 2015 0.1880 19.2139 0.1049 0.6233 0.1084 0.0163 0.0668 0.0063 MBB 2016 0.1538 19.3617 0.1038 0.6701 0.1085 0.0134 0.0621 0.0267 MBB 2017 0.2065 19.5645 0.0943 0.6686 0.1179 0.0122 0.0681 0.0352 MBB 2018 0.1599 19.7081 0.0943 0.6787 0.1811 0.0135 0.0708 0.0354 MBB 2019 0.1399 19.8353 0.0969 0.7075 0.2023 0.0117 0.0702 0.0280 MBB 2020 0.1442 20.0200 0.1012 0.7121 0.1718 0.0110 0.0291 0.0323 MBB 2021 0.1401 20.2243 0.1029 0.6941 0.2116 0.0023 0.0258 0.0184 MSB 2012 0.3141 18.5153 0.0827 0.3061 0.0249 0.0265 0.0525 0.0910 60 MSB 2013 0.2465 18.4894 0.0879 0.2878 0.0350 0.0271 0.0542 0.0659 MSB 2014 0.1925 18.4634 0.0905 0.2486 0.0151 0.0516 0.0598 0.0409 MSB 2015 0.1468 18.4629 0.1305 0.3300 0.0085 0.0341 0.0668 0.0063 MSB 2016 0.1196 18.3439 0.1469 0.4792 0.0103 0.0236 0.0621 0.0267 MSB 2017 0.1257 18.5361 0.1223 0.3818 0.0089 0.0223 0.0681 0.0352 MSB 2018 0.1995 18.7411 0.1003 0.4358 0.0628 0.0301 0.0708 0.0354 MSB 2019 0.1733 18.8716 0.0947 0.4582 0.0702 0.0205 0.0702 0.0280 MSB 2020 0.1192 18.9900 0.0955 0.5056 0.1192 0.0196 0.0291 0.0323 MSB 2021 0.1868 19.1320 0.1082 0.5685 0.1831 0.0094 0.0258 0.0184 NAB 2012 0.2246 16.5886 0.2047 0.5601 0.0551 0.0271 0.0525 0.0910 NAB 2013 0.2801 17.1753 0.1132 0.4588 0.0414 0.0148 0.0542 0.0659 NAB 2014 0.4186 17.4343 0.0893 0.4693 0.0562 0.0147 0.0598 0.0409 NAB 2015 0.2279 17.3842 0.0963 0.6607 0.0569 0.0091 0.0668 0.0063 NAB 2016 0.1049 17.5733 0.0801 0.6130 0.0096 0.0294 0.0621 0.0267 NAB 2017 0.1186 17.8126 0.0674 0.7190 0.0652 0.0195 0.0681 0.0352 NAB 2018 0.1764 18.1338 0.0564 0.7243 0.1398 0.0101 0.0708 0.0354 NAB 2019 0.1682 18.3661 0.0524 0.7683 0.1475 0.0198 0.0702 0.0280 NAB 2020 0.1298 18.7157 0.0491 0.7105 0.1212 0.0083 0.0291 0.0323 NAB 2021 0.1568 18.8475 0.0524 0.7174 0.1787 0.0919 0.0258 0.0184 61 NVB 2012 0.0862 16.8875 0.1476 0.7376 0.0007 0.0564 0.0525 0.0910 NVB 2013 0.2138 17.1854 0.1102 0.5200 0.0058 0.0607 0.0542 0.0659 NVB 2014 0.2095 17.4220 0.0872 0.4962 0.0025 0.0253 0.0598 0.0409 NVB 2015 0.1767 17.6915 0.0667 0.4573 0.0020 0.0215 0.0668 0.0063 NVB 2016 0.1946 18.0498 0.0468 0.3953 0.0034 0.0149 0.0621 0.0267 NVB 2017 0.1727 18.0900 0.0448 0.4750 0.0068 0.0153 0.0681 0.0352 NVB 2018 0.1182 18.0980 0.0446 0.5338 0.0112 0.0167 0.0708 0.0354 NVB 2019 0.1990 18.2025 0.0536 0.5051 0.0100 0.0193 0.0702 0.0280 NVB 2020 0.1558 18.3109 0.0476 0.4788 0.0003 0.0151 0.0291 0.0323 NVB 2021 0.0733 18.1166 0.0578 0.6095 0.0003 0.0112 0.0258 0.0184 OCB 2012 0.1817 17.1269 0.1393 0.7786 0.0602 0.0280 0.0525 0.0910 OCB 2013 0.1485 17.3058 0.1209 0.7203 0.0609 0.0290 0.0542 0.0659 OCB 2014 0.1478 17.4815 0.1028 0.6240 0.0549 0.0300 0.0598 0.0409 OCB 2015 0.1547 17.7164 0.0855 0.6419 0.0496 0.0190 0.0668 0.0063 OCB 2016 0.1273 17.9715 0.0739 0.6866 0.0820 0.0175 0.0621 0.0267 OCB 2017 0.2067 18.2499 0.0728 0.6468 0.1330 0.0179 0.0681 0.0352 OCB 2018 0.1541 18.4203 0.0880 0.6538 0.2002 0.0229 0.0708 0.0354 OCB 2019 0.1758 18.5875 0.0974 0.7088 0.2244 0.0184 0.0702 0.0280 OCB 2020 0.1464 18.8429 0.1143 0.6989 0.2027 0.0169 0.0291 0.0323 62 OCB 2021 0.1720 19.0331 0.1182 0.6577 0.2020 0.0072 0.0258 0.0184 PGB 2012 0.1562 16.7731 0.1659 0.8547 0.0751 0.0844 0.0525 0.0910 PGB 2013 0.2900 17.0294 0.1290 0.6416 0.0119 0.0298 0.0542 0.0659 PGB 2014 0.2654 17.0651 0.1295 0.6501 0.0392 0.0249 0.0598 0.0409 PGB 2015 0.1468 17.0216 0.1366 0.7486 0.0121 0.0275 0.0668 0.0063 PGB 2016 0.0792 17.0273 0.1408 0.8257 0.0351 0.0247 0.0621 0.0267 PGB 2017 0.0897 17.1930 0.1215 0.8378 0.0181 0.0323 0.0681 0.0352 PGB 2018 0.0812 17.2134 0.1233 0.8478 0.0344 0.0306 0.0708 0.0354 PGB 2019 0.1038 17.2678 0.1027 0.8590 0.0230 0.0316 0.0702 0.0280 PGB 2020 0.1853 17.4033 0.1087 0.8058 0.0431 0.0244 0.0291 0.0323 PGB 2021 0.2150 17.5173 0.1032 0.7639 0.0618 0.0191 0.0258 0.0184 SGB 2012 0.0949 16.5137 0.2419 0.9845 0.0827 0.0293 0.0525 0.0910 SGB 2013 0.0749 16.5023 0.2384 0.9765 0.0494 0.0224 0.0542 0.0659 SGB 2014 0.0580 16.5770 0.2203 0.9334 0.0519 0.0208 0.0598 0.0409 SGB 2015 0.1149 16.6918 0.1911 0.8178 0.0127 0.0188 0.0668 0.0063 SGB 2016 0.1343 16.7625 0.1845 0.8177 0.0397 0.0263 0.0621 0.0267 SGB 2017 0.1924 16.8751 0.1603 0.7938 0.0160 0.0298 0.0681 0.0352 SGB 2018 0.1657 16.8297 0.1686 0.8151 0.0121 0.0220 0.0708 0.0354 SGB 2019 0.2598 16.9428 0.1561 0.7647 0.0406 0.0194 0.0702 0.0280 63 SGB 2020 0.2703 16.9912 0.1512 0.7713 0.0268 0.0144 0.0291 0.0323 SGB 2021 0.2580 17.0186 0.1507 0.7991 0.0331 0.0111 0.0258 0.0184 SHB 2012 0.2865 18.5737 0.0816 0.5368 0.1775 0.0883 0.0525 0.0910 SHB 2013 0.2285 18.7827 0.0721 0.5868 0.0821 0.0413 0.0542 0.0659 SHB 2014 0.1992 18.9456 0.0620 0.6636 0.0755 0.0203 0.0598 0.0409 SHB 2015 0.1765 19.1371 0.0550 0.7018 0.0706 0.0172 0.0668 0.0063 SHB 2016 0.1461 19.2706 0.0566 0.7516 0.0690 0.0188 0.0621 0.0267 SHB 2017 0.1353 19.4715 0.0514 0.7435 0.1048 0.0233 0.0681 0.0352 SHB 2018 0.1099 19.5940 0.0505 0.7459 0.1024 0.0240 0.0708 0.0354 SHB 2019 0.1249 19.7161 0.0507 0.7831 0.1306 0.0191 0.0702 0.0280 SHB 2020 0.1155 19.8382 0.0582 0.8089 0.1085 0.0183 0.0291 0.0323 SHB 2021 0.1586 20.0432 0.0701 0.7894 0.1409 0.0171 0.0258 0.0184 SSB 2012 0.5211 18.1339 0.0744 0.2473 0.0094 0.0297 0.0525 0.0910 SSB 2013 0.4151 18.1958 0.0717 0.2839 0.0265 0.0284 0.0542 0.0659 SSB 2014 0.3749 18.1998 0.0709 0.4293 0.0153 0.0160 0.0598 0.0409 SSB 2015 0.2188 18.2553 0.0681 0.5442 0.0159 0.0143 0.0668 0.0063 SSB 2016 0.1769 18.4538 0.0569 0.6100 0.0199 0.0173 0.0621 0.0267 SSB 2017 0.2067 18.6439 0.0494 0.6009 0.0494 0.0103 0.0681 0.0352 SSB 2018 0.2070 18.7606 0.0591 0.6821 0.0594 0.0152 0.0708 0.0354 64 SSB 2019 0.1981 18.8743 0.0694 0.6823 0.1005 0.0231 0.0702 0.0280 SSB 2020 0.1821 19.0096 0.0759 0.6617 0.0995 0.0186 0.0291 0.0323 SSB 2021 0.2908 19.1705 0.0882 0.6720 0.1397 0.0176 0.0258 0.0184 STB 2012 0.1522 18.8402 0.0901 0.7910 0.0732 0.0205 0.0525 0.0910 STB 2013 0.1094 18.8993 0.1057 0.7963 0.1306 0.0146 0.0542 0.0659 STB 2014 0.1076 19.0615 0.0952 0.7562 0.1222 0.0119 0.0598 0.0409 STB 2015 0.0561 19.4924 0.0773 0.6958 0.0287 0.0580 0.0668 0.0063 STB 2016 0.0524 19.6207 0.0668 0.6553 0.0040 0.0691 0.0621 0.0267 STB 2017 0.0452 19.7249 0.0631 0.6513 0.0508 0.0467 0.0681 0.0352 STB 2018 0.0513 19.8220 0.0607 0.6939 0.0727 0.0213 0.0708 0.0354 STB 2019 0.0739 19.9327 0.0590 0.7057 0.0918 0.0194 0.0702 0.0280 STB 2020 0.0734 20.0150 0.0588 0.7491 0.0926 0.0170 0.0291 0.0323 STB 2021 0.0552 20.0715 0.0657 0.8216 0.0996 0.0117 0.0258 0.0184 TCB 2012 0.2344 19.0081 0.0739 0.4168 0.0576 0.0270 0.0525 0.0910 TCB 2013 0.1351 18.8838 0.0876 0.4905 0.0473 0.0365 0.0542 0.0659 TCB 2014 0.1416 18.9854 0.0852 0.5041 0.0722 0.0238 0.0598 0.0409 TCB 2015 0.1150 19.0730 0.0857 0.6487 0.0929 0.0167 0.0668 0.0063 TCB 2016 0.1492 19.2766 0.0832 0.6760 0.1608 0.0158 0.0621 0.0267 TCB 2017 0.1616 19.4117 0.1000 0.6766 0.2393 0.0161 0.0681 0.0352 65 TCB 2018 0.1754 19.5869 0.1613 0.6277 0.1636 0.0175 0.0708 0.0354 TCB 2019 0.1721 19.7654 0.1618 0.7351 0.1647 0.0133 0.0702 0.0280 TCB 2020 0.1166 19.9014 0.1697 0.7803 0.1686 0.0047 0.0291 0.0323 TCB 2021 0.1478 20.1589 0.1636 0.7455 0.1979 0.0022 0.0258 0.0184 TPB 2012 0.1746 16.5316 0.2195 0.5554 0.0351 0.0366 0.0525 0.0910 TPB 2013 0.2042 17.2840 0.1153 0.4208 0.1031 0.0035 0.0542 0.0659 TPB 2014 0.3199 17.7567 0.0823 0.4203 0.1265 0.0101 0.0598 0.0409 TPB 2015 0.2905 18.1491 0.0630 0.4061 0.1171 0.0066 0.0668 0.0063 TPB 2016 0.2442 18.4819 0.0534 0.4800 0.0995 0.0071 0.0621 0.0267 TPB 2017 0.2105 18.6367 0.0538 0.5478 0.1443 0.0109 0.0681 0.0352 TPB 2018 0.1642 18.7295 0.0780 0.6447 0.1700 0.0112 0.0708 0.0354 TPB 2019 0.1851 18.9180 0.0795 0.6421 0.2366 0.0129 0.0702 0.0280 TPB 2020 0.1164 19.1449 0.0812 0.6410 0.2096 0.0118 0.0291 0.0323 TPB 2021 0.2368 19.4951 0.0887 0.5323 0.1858 0.0021 0.0258 0.0184 VCB 2012 0.2113 19.8426 0.1003 0.7338 0.1064 0.0240 0.0525 0.0910 VCB 2013 0.2619 19.9661 0.0904 0.7081 0.1033 0.0273 0.0542 0.0659 VCB 2014 0.3081 20.1733 0.0751 0.6763 0.1058 0.0231 0.0598 0.0409 VCB 2015 0.2516 20.3293 0.0670 0.6584 0.1180 0.0184 0.0668 0.0063 VCB 2016 0.2324 20.4849 0.0609 0.6727 0.1438 0.0150 0.0621 0.0267 66 VCB 2017 0.3346 20.7580 0.0508 0.6745 0.1733 0.0114 0.0681 0.0352 VCB 2018 0.2575 20.7947 0.0579 0.6907 0.2352 0.0099 0.0708 0.0354 VCB 2019 0.2451 20.9243 0.0662 0.7077 0.2290 0.0077 0.0702 0.0280 VCB 2020 0.2399 21.0056 0.0709 0.7092 0.1963 0.0062 0.0291 0.0323 VCB 2021 0.1902 21.0702 0.0771 0.7404 0.2011 0.0046 0.0258 0.0184 VIB 2012 0.1542 17.9903 0.1287 0.6493 0.0622 0.0262 0.0525 0.0910 VIB 2013 0.1249 18.1577 0.1038 0.5510 0.0063 0.0282 0.0542 0.0659 VIB 2014 0.1209 18.2058 0.1054 0.5419 0.0615 0.0251 0.0598 0.0409 VIB 2015 0.1009 18.2500 0.1021 0.7125 0.0605 0.0207 0.0668 0.0063 VIB 2016 0.1342 18.4649 0.0836 0.6259 0.0643 0.0258 0.0621 0.0267 VIB 2017 0.1208 18.6290 0.0714 0.7102 0.1279 0.0249 0.0681 0.0352 VIB 2018 0.0861 18.7512 0.0767 0.7657 0.2057 0.0252 0.0708 0.0354 VIB 2019 0.1312 19.0333 0.0728 0.7672 0.2432 0.0196 0.0702 0.0280 VIB 2020 0.1242 19.3154 0.0735 0.7578 0.2583 0.0174 0.0291 0.0323 VIB 2021 0.1757 19.5505 0.0785 0.7103 0.2639 0.0066 0.0258 0.0184 VPB 2012 0.2949 18.4471 0.0653 0.4061 0.0959 0.0272 0.0525 0.0910 VPB 2013 0.1949 18.6135 0.0637 0.4960 0.1317 0.0281 0.0542 0.0659 VPB 2014 0.1423 18.9107 0.0550 0.5256 0.1396 0.0254 0.0598 0.0409 VPB 2015 0.1059 19.0827 0.0691 0.6773 0.1789 0.0269 0.0668 0.0063 67 VPB 2016 0.0745 19.2482 0.0751 0.7084 0.2291 0.0291 0.0621 0.0267 VPB 2017 0.1007 19.4422 0.1069 0.7552 0.2169 0.0339 0.0681 0.0352 VPB 2018 0.1035 19.5941 0.1075 0.7978 0.2117 0.0350 0.0708 0.0354 VPB 2019 0.0731 19.7483 0.1119 0.7850 0.1957 0.0342 0.0702 0.0280 VPB 2020 0.0695 19.8534 0.1260 0.8116 0.1973 0.0341 0.0291 0.0323 VPB 2021 0.1412 20.1207 0.1576 0.7890 0.1330 0.0058 0.0258 0.0184 Source: Author's compilation 68 Appendix C Regression results with Stata 16.0 Variables statistics Variables correlation 69 Multi-collinearity test Pooled-OLS regression 70 FEM regression REM regression 71 Pooled-OLS, FEM, REM regression 72 Hausman test Heteroskedasticity test 73 Autocorrelation test FGLS regression 74 ... bank''s liquidity 1.3.2 Particular objectives  Determining the factors impacting the liquidity of commercial banks in Vietnam  Measuring and assessing the impact direction of each factor influencing. .. research In the study of Aspachs et al (2005), the author analyzed the factors affecting the liquidity of 57 commercial banks in the UK from 1985-2003 The results showed that the factors affecting the. .. applied to Vietnamese commercial banks When considering the impact of factors on liquidity, the studies in Vietnam mainly research the factors inside the bank, ignoring the effects from the outside