The Influence of Free Cash Flow (FCF) on the Performance of Securities Companies in Vietnam

This research seeks to investigate the influence of free cash flow on the performance of securities firms in Vietnam. The study involves a sample of 73 such firms, totaling 1315 data points, spanning the years from 2008 to 2021. Leveraging both qualitative research techniques (i.e., synthetic and interpretive methods) and quantitative approaches (such as linear regression), six key factors of free cash flow impacting the companies’ performance have been determined. These include the company size (Size), available free cash flow (FCF), company growth (Growth), cost factors (Cost), return on assets (ROA), and the enterprise's age (Age). The research explores and evaluates the critical role of effective free cash flow management in the operations of Vietnamese securities firms, especially in the current climate of extensive international economic integration, with an aim toward sustainable development of Vietnam's stock market.