Đăng nhập
Tìm kiếm nâng cao
Tên bài báo
Tác giả
Năm xuất bản
Tóm tắt
Lĩnh vực
Phân loại
Số tạp chí

Bản tin định kỳ
Báo cáo thường niên
Tạp chí khoa học ĐHCT
Tạp chí tiếng anh ĐHCT
Tạp chí trong nước
Tạp chí quốc tế
Kỷ yếu HN trong nước
Kỷ yếu HN quốc tế
Book chapter
Bài báo - Tạp chí
(2015) Trang: 377*401
Tạp chí: Kỷ yếu Hội thảo Khoa học phát triển kinh tế xã hội Đồng bằng sông Cửu Long 2015
Liên kết:

This paper studies firm-level antecedents and the impact on firm value of the adoption of OECD-type governance principles by Vietnamese listed firms at IPO. By doing so it examines whether agency insights are applicable in a context different from Western market economies and tries to uncover the obstacles for proliferation of OECD-type governance across firms in Vietnam. Using hand-collected data from 660 IPO firms in the Vietnamese stock market over the period 2006-2011 and using a two-stage least squares (2SLS) estimation with instrumental variables to control for the problem of endogeneity, the results indicate that the adoption of board independence in terms of non-executive directors, supervisory board independence and use of high-quality auditor are significantly related to higher firm value at IPO. The results indicate that agency insights are applicable in a context of concentrated ownership and low investor protection and weak enforcement in that board independence and stricter monitoring by auditors lead to higher firm value. With respect to the proliferation of OECD-type governance the study reveals that only those firms that are less able to rely on local informal institutions will adopt these principles, despite the positive impact on firm value. The study shows that adoption of board independence and high quality external auditing is positively associated with firm value, as well as the appointment of directors who hold multiple board seats. However to ensure compliance with governance and transparency principles, formal institutional changes related to stricter enforcement of the regulation are of utmost importance.

Các bài báo khác
Tập 55, Số CĐ Kinh tế (2019) Trang: 1-11
Tải về
Tập 54, Số 7 (2018) Trang: 138-145
Tải về
Tập 54, Số 1 (2018) Trang: 144-163
Tải về
Tập 54, Số 6 (2018) Trang: 196-205
Tải về
Số 50 (2017) Trang: 34-44
Tải về
Số 46 (2016) Trang: 51-59
Tải về
Số 48 (2017) Trang: 66-76
Tải về
(2020) Trang: 507-536
Tạp chí: The first international conference in economics & business, December 6th 2019, Can Tho University
(2020) Trang: 1121-1139
Tạp chí: International Conference on Business and Finance 2020, University of Economics, Ho Chi Minh City, 27-28 August 2020
(2019) Trang: 192-212
Tạp chí: International Conference on Business and Finance 2019, University of Economics, Ho Chi Minh City, 23rd August 2019
26 (1) (2018) Trang: 58-79
Tạp chí: Corporate Governance: An International Reivew
(2017) Trang: 185-193
Tạp chí: Phát triển kinh tế xã hội vùng ĐBSCL trong xu thế toàn càu hóa, Khoa Kinh tế, Trường ĐH Cần Thơ, ngày 15/12/2017
(2016) Trang: 299-335
Tạp chí: Modern ideologies in economics and governance & the application for Vietnam after joining AEC and TPP
5 (2015) Trang: 202-217
Tạp chí: Asian Economic and Financial Review
(2013) Trang: Track E in Programme, ISSN number: 2295 - 1687
Tạp chí: 10th Worshop on Corporate Governance, Brussels, October 10-11, 2013
4(3) (2014) Trang: 628-650
Tạp chí: International Journal of Economics and Financial Issues

Vietnamese | English

Vui lòng chờ...