TY - BOOK ID - 134115436 TI - Corporate Vulnerabilities in Vietnam and Implications of COVID-19. AU - Anh Thi Ngoc AU - Zhang, Yuanyan S. PY - 2020 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Business and Economics KW - Health and Fitness KW - Accounting KW - Finance: General KW - Money and Monetary Policy KW - Industries: Service KW - Diseases: Contagious KW - Corporate Finance and Governance: General KW - Financing Policy KW - Financial Risk and Risk Management KW - Capital and Ownership Structure KW - Value of Firms KW - Goodwill KW - Bankruptcy KW - Liquidation KW - Corporate Finance and Governance: Government Policy and Regulation KW - Crisis Management KW - Economic Development: Financial Markets KW - Saving and Capital Investment KW - Corporate Finance and Governance KW - Portfolio Choice KW - Investment Decisions KW - Monetary Systems KW - Standards KW - Regimes KW - Government and the Monetary System KW - Payment Systems KW - Public Administration KW - Public Sector Accounting and Audits KW - Health Behavior KW - Industry Studies: Services: General KW - Finance KW - Monetary economics KW - Financial reporting, financial statements KW - Infectious & contagious diseases KW - Liquidity KW - Currencies KW - Financial statements KW - COVID-19 KW - Services sector KW - Asset and liability management KW - Health KW - Money KW - Public financial management (PFM) KW - Economic sectors KW - Economics KW - Finance, Public KW - Communicable diseases KW - Service industries KW - Vietnam KW - Corporations KW - COVID-19 (Disease) KW - Business and Economics. KW - Health and Fitness. KW - Accounting. KW - Finance: General. KW - Money and Monetary Policy. KW - Industries: Service. KW - Diseases: Contagious. KW - Corporate Finance and Governance: General. KW - Financing Policy. KW - Financial Risk and Risk Management. KW - Capital and Ownership Structure. KW - Value of Firms. KW - Goodwill. KW - Bankruptcy. KW - Liquidation. KW - Corporate Finance and Governance: Government Policy and Regulation. KW - Crisis Management. KW - Economic Development: Financial Markets. KW - Saving and Capital Investment. KW - Corporate Finance and Governance. KW - Portfolio Choice. KW - Investment Decisions. KW - Monetary Systems. KW - Standards. KW - Regimes. KW - Government and the Monetary System. KW - Payment Systems. KW - Public Administration. KW - Public Sector Accounting and Audits. KW - Health Behavior. KW - Industry Studies: Services: General. KW - Finance. KW - Monetary economics. KW - Financial reporting, financial statements. KW - Infectious & contagious diseases. KW - Liquidity. KW - Currencies. KW - Financial statements. KW - COVID-19. KW - Services sector. KW - Asset and liability management. KW - Health. KW - Money. KW - Public financial management (PFM). KW - Economic sectors. KW - Economics. KW - Finance, Public. KW - Communicable diseases. KW - Service industries. KW - Economic aspects. KW - Vietnam. UR - https://www.unicat.be/uniCat?func=search&query=sysid:134115436 AB - The paper uses firm-level data to assess the financial health of the Vietnamese non-financial corporate sector on the eve of pandemic. Our analysis finds that smaller domestic firms were particularly vulnerable even by regional comparison. A sensitivity analysis suggests that the COVID-19 shock will have a substantial impact on firms’ profitability, liquidity and even solvency, particularly in the hardest hit sectors that are dominated by SMEs and account for a sizeable employment share, but large firms are not immune to the crisis. Risks of default can propagate more broadly through upstream and downstream linkages to industries not directly impacted, with stresses potentially translating into an increase in corporate bankruptcies and bank fragility. Policy measures taken in the immediate aftermath of the crisis have helped alleviate liquidity pressures, but the nature of policy support may have to pivot to support the recovery. ER -