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<b>ABSTRACT </b>

The research was conducted with the purpose of identifying factors that impact the financial stability of Vietnamese commercial banks. Research data was collected from 23 Vietnamese commercial banks in the period 2010 - 2022. The study used a set of methods such as descriptive statistics, correlation matrix, panel data regression, least squares estimation feasible generalized minimum, GMM regression and use of Z-score to comprehensively review the topic and obtain optimal results. Thanks to the support of STATA 17.0 software, the author obtained research results showing 7 factors that impact the financial stability of Vietnamese commercial banks including: (1) Capital adequacy ratio; (2) Return on equity ratio; (3) Net profit margin; (4) Bank size; (5) Ratio of outstanding loans to total assets; (6) Inflation; (7) Growth rate. Based on the results obtained, the author proposes some management implications to help policymakers, administrators as well as banks to improve or maintain financial stability.

<i>Keywords: financial stability, Commercial Bank, Z-score </i>

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<b> I THI U T NG QUAN VỀ NGHIÊN CỨU </b>

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ng tài s n. Z-score càng l n hàm ý s nh tài chính càng cao hay r i ro t ng

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(Asghar Kamal, Talat Hussain, M. Mahmood Shah Khan, 2021) ng n u ki th ng tài chính, bao g m các trung gian tài

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nh tài chính s m b o n sau: (i) Bong bong giá tài s n; (ii) Thi u thanh kho n; (iii) Tình tr a các th ch a s n công c ng, n u khơng thì vi y nh tài chính s không ph i là m c tiêu x a chính sách cơng. S nh tài chính ph i ch u s ki m soát ho c ng c n (William A. Allen, Geoffrey Wood, 2006).

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chính c x y ra khi các ngân hàng th t ch t ng t các u ki n vay v n. Lai (2002) cho r n c a s b t n tài chính ngân hàng là s m i gi a tài s n và v n ngân hàng khi n ph i tr ngân kho n th p, d n kh ng ho ng thanh kho n khi nhu c u thanh toán ng n h n t quá d tr tài s n có tính thanh kho William A. Allen, Geoffrey Wood (2006) t tr n b t n tài chính khó có th x i lo s v b t n tài chính khơng ph i là y u t tr ng y u trong các quy nh kinh t ia (Omondi Godfrey ODUNDO, Maengwe James ORWARU, 2018)

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ng l i nhu n trên tài s n s th c hi n nghiên c u v n x u và s nh tài chính c a các ngân hàng Kenya và k t lu n r ng các kho n vay không hi u qu i Kenya nh

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u tài s n và có th ph n ánh s thành công trong vi c qu n lý tài s n sinh l i c a ngân hàng. Biên lãi ròng l n cho th n lý thành công tài s n sinh lãi c a mình. Ngồi ra, biên lãi ròng ph n ánh c ãi su t và (Adusei, 2015). Có th th y, các ngân hàng l n có ti m l c tài chính và ngu n l c m n, có th c kinh doanh v cung c p các s n ph m tín

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(Dimas Mateus Fazioa, Thiago Christiano Silvab, Benjamin Miranda Tabakd, Daniel Oliveira Cajueiroe, 2018) Muhammad Ali Shahid, Zaheer Abbas (2012)

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(Yong Tan, Christos Floros, 2012). Theo Naama Trad, Houssem Rachdi, Abdelaziz Hakimi, Khaled Guesmi (2016), Muhammad Ali Shahid, Zaheer Abbas (2012)

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(Bilal Hafeez, Xiping Li b, M. Humayun Kabir, David Tripe, 2022 Abu Hanifa Md. Noman, Chan Sok Gee, Che Ruhana Isa, 2017) - l l ch chu n c a l i nhu n mà n u giá tr l i nhu n ROA k v ng c a ngân hàng gi m xu ng theo s l y v n ch s h u s b c n ki t và ngân hàng m t kh Luc Laeven, Ross

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m i và thu nh p ngoài lãi có h s p ngoài lãi và l n rõ r t v i m i quan h nhân qu kép gi a s n

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Muhammad Ali, Chin Hong Puah (2018). Các y u t nh kh i và s nh c a ngân hàng. M m tra các y u t bên trong quy nh kh i và s nh c a ngân hàng trong khu v i - t qu thu c t mơ hình l i nhu n ch ra r ng quy mô ngân hàng, r i ro tín d ng, r i ro tài chính và s v m t th n l i nhu n, trong khi r i ro thanh kho n cho th v m t th n l i nhu t s hi u bi t m i h u ích cho các ngân hàng. M t s khuy n ngh có th h u ích cho ho ng b n v ng c a ngân hàng.

<b> </b>

Le (2020) i liên h gi ng cho vay, kh l i và s nh trong h th ng ngân hàng Vi t Nam t nh quan h nhân qu Granger, - y m i quan h hai chi u gi a s nh c a ngân hàng, l i

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<b> 4. K t qu ng mơ hình Pooled OLS, FEM và REM </b>

OLS & FEM FEM & REM OLS & REM

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<i> T ng h p d a trên k t qu phân tích thơng qua STATA 17.0 </i>

<b> - test thông qua B </b>

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<b>Number of obs = 299 Wald chi2(8) = 804.49 Number of groups = 23 Prob > chi2 = 0.0000 </b>

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Group variable: codeMH Number of obs = 276 Time variable: year Number of groups = 23 Number of instruments = 21 Obs per group: min = 12

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(Liisa Halme, Christian Hawkesby, Juliette Healey, Indrek Saapar and Farouk Soussa, 2000)

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M r ng m i v i nhi u chi nhánh m t cách giúp ngân c này không ch giúp ti p c c nhi mà cịn giúp ích trong vi c t o lịng tin c a cơng chúng v hình nh c a ngân hàng. y tên c a m s l i d u nh n di u n g n v ng th i s ng dành cho ngân

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ng ngân hàng t t, uy tín m i to l n có m t kh p y, khi n h d dàng trong quy nh g i ti n hay s d ng nhi u d ch v ngân hàng cung c p. T n cho ho ng kinh doanh hi u qu , giúp ngân hàng

Ngoài ra, vi c mua bán, sáp nh g quy mô. Vi c ngân hàng th c hi n mua bán sáp nh p khi n ngân hàng t o ra m t t ch c v i quy mô l ng v c các ngân hàng sáp nh p s giúp c t gi c nhi u chi phí, nh ng ngân hàng có cùng a bàn ho n c c t gi m, t t gi c chi phí nhân viên, m t b ng, chi phí ho ng c a chi nhánh,... Nh ng ngân hàng khi ho ng riêng l ng khách hàng riêng và nh ng d ch v p nó s b tr cho nhau giúp m r ng ng hóa ho ng kinh doanh khi n ngân hàng ngày càng nh.

Tuy quy mơ l n có th mang l i nh ng l i ích nh i nó là ph i ki m soát ch t ch nh ng r i ro m t cách th n tr r ng m i khơng h p lí s i gánh n qu c nh ng ngân hàng có quy mơ l n b i t m quan tr ng mang tính h th ng. Nh ng ngân hàng có quy mơ l n n v s lây lan sang nh ng ngân hàng khác, th m chí ng c n n kinh t . Nh ng ngân hàng này c n có s giám sát ch t ch , toàn di

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