
doi: 10.2139/ssrn.4886890
The paper aims to investigate the effectiveness of Piotroski F-score in the Vietnamese market. Using data from 671 non-financial companies during the period of the last ten years (2013-2022), the research shows the companies in the Vietnam market with high F-score (8 or above) show an overwhelmingly better performance in comparison with market index. Empirical tests show that the Piotroski F-score was confirmed by around 83.8% of companies (415 out of 493) and with an average market adjusted returns of 43.84%.
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