Table 1 Classification of market concentration and financial diversity according to the value of HHI.

From: Adopting the Hirschman–Herfindahl Index to estimate the financial sustainability of Vietnamese public universities

Value of HHI

Degree of

Unstandardized estimation

Standardized estimation

Market concentration

Financial diversity/sustainability

From 0 to 1500

From 0 to 0.15

Highly competitive

Strong financial diversity/sustainability

From 1500 to −2500

From 0.15 to 0.25

Moderately competitive

Moderate financial diversity/sustainability

From 2500 to 10,000

From 0.25 to 1.00

Highly concentrated

Weak financial diversity/sustainability

  1. Source: Authors synthesized from U.S. Department of Justice (2010), Chikoto et al. (2016), and Garland (2020).
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