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Nguyen, Thao Ngoc (2012) Bank structure, efficiency and risk management in Vietnam. Doctoral thesis, London Metropolitan University.
The purpose of this thesis is to examine the feature of the Vietnamese banking system in terms of bank structure, bank efficiency and risk management. We extend the structural, nonstructural and efficiency models to make them applicable to Vietnam. Findings from these models explain the performance and level of efficiency of the whole banking system, state owned commercial banks (SOCBs) and non-state owned commercial banks (non-SOCBs). At the theoretical level, this thesis investigates the development of Vietnamese banking in four stages: (1) the period prior to 1986; (2) 1986-1995; (3) 1996-2005; (4) 2006 until now. We also put an emphasis on the Vietnamese crises in 1997 and 2008. Through such investigations, we are able to incorporate a number of financial fundamentals to the bank structure and efficiency models that capture the features of the Vietnamese banking system. Moreover, we construct a large data set of 48 Vietnamese commercial banks in the period from 1999 to 2009. This time span covers both the post 1997 Asian and 2008 Global crises, which allows us to estimate the impacts of financial crises on the banking system. At the empirical level, this thesis provides, for the first time, a comprehensive application of the extended structural (Structure-Conduct-Performance (SCP) and Efficiency Hypothesis (EH)) and non-structural (Panzar-Rosse) models. In the non-structural model, we employ models using current and lagged input prices, both with and without assets. Moreover, both equilibrium and disequilibrium approaches are used to examine the bank structure. This is the first time the semi-parametric model is applied through the two-stage procedure for the Vietnamese banking system. In addition, it is also the first study that carries out a survey of risk management using a questionnaire.
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