Tài liệu The effect of corporate governance on firm performance in vietnam

Mô tả:

The study focuses on the characteristics of Board of Directors (BOD) and their influences on the enterprise value in the data set, which consists of 100 non-financial enterprises listed on HOSE and HNX with 800 observations from 2008 to 2015. Furthermore, I use system GMM for generalized estimation which allows controlling endogenous problems. The two theories: agency theory and resource dependence theory help explain the research results. The characteristics of BOD include the board diversity, board size, non-executive directors, CEO duality, ownership structures and the qualifications of BOD. The firm performance is measured by Tobin’s Q. The results show that the gender diversification, CEO duality, ownership structure and qualifications have effects on firm performance while other variables do not. This study provides information about the characteristics of corporate governance by showing the empirical evidence for Vietnam market - one of the emerging markets in Asia.