The necessity and current status of credit ratings in Vietnam financial market

Tóm tắt

This research significantly contributes to the understanding of credit ratings in Vietnam's developing capital market. It explores the impact of credit ratings on lenders' decision-making processes and highlights the role of credit ratings in promoting financial discipline in the Vietnam market, thereby determining the need for Vietnam's capital market. The study provides an assessment of an issuer's creditworthiness, enabling both domestic and international investors to make informed decisions about potential investments. From these contexts and market forces, we also identify the root causes of the current challenges facing Vietnam's credit rating instrument. The research methodology includes a review of established theories worldwide regarding the necessity and role of credit ratings in the development of national economies and we also collect primary data focusing on the need to use credit ratings, Evaluations of current results from participants in capital market. The research team conducted a detailed examination of the impacts of credit ratings on the capital market and the issue of information asymmetry in Asian countries with developed capital markets and similar characteristics to Vietnam. Based on this analysis, the research team synthesizes existing knowledge on the necessity and current situation, identified similarities and differences, and evaluated whether credit ratings are necessary for Vietnam's capital market and their direct and indirect impacts.