Corporate governance and its impact on the performance of firms in emerging countries: The evidence from Vietnam
Main Article Content
Abstract
Abstract. Corporate governance has been become an important issue for both Vietnamese firms and government. This study examines the effects of corporate governance on firm performance in Vietnam using the 2009 Survey of Corporate Governance Practices, which surveyed a sample of 100 large, publicly traded Vietnamese companies on the Hanoi Stock Exchange (HSE) and the Ho Chi Minh Stock Exchange (HOSE) on 1st January 2009. The research results show that corporate governance has an impact on firm performance. More specifically, corporate governance practices have impacted on firm profitability and market performance. The article concludes with some recommendations for management and directions for future research.
Keywords: Corporate governance, firm performance, emerging countries, Vietnam.
References
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[3] Mekong Capital. (2003). Recommendations on Corporate Governance Practices in Vietnam. [www.mekongcapital.com/html/downloads.htm]
[4] OECD. (2004). OECD Principles of Corporate Governance 2004. OECD
Publishing.
[5] Rajagopalan, N. & Zhang, Y. (2008). Corporate governance reforms in China and India: Challenges and opportunities. Business Horizons, 51: 55–64.
[6] Renders, A., Gaeremynck, A. Sercu, P. (2010). Corporate-governance ratings and company performance: a cross-European study. Corporate Governance, vol. 18, no. 2, pp. 87-106.
[7] Shen, W. & Lin, C. (2009). Firm profitability, state ownership, and top management turnover at the listed firms in China: A behavioral perspective. Corporate Governance: An International Review, 17: 443-456.
Singh, D. A. & Gaur, A. (2009). Business group affiliation, firm governance and firm performance: Evidence from China and India. Corporate Governance: An International Review, 17: 411-425.