Ownership structure and firm performance improvement: Does it matter in the Vietnamese Stock Market?
dc.contributor.author | Lai Hoang, T | |
dc.contributor.author | Nguyen, Cuong | |
dc.contributor.author | Hu, Baiding | |
dc.date.accessioned | 2018-05-22T02:06:54Z | |
dc.date.available | 2017-08-23 | |
dc.date.issued | 2017-12 | |
dc.date.submitted | 2017-07-17 | |
dc.description.abstract | This study examines the effects of ownership structure on firm performance of manufacturing companies listed on the Ho Chi Minh Stock Exchange using the system-GMM estimator. The empirical results show a cubic relationship between managerial ownership and Tobin's Q, that is, positive, negative and positive, meanwhile block ownership has no impact on firm performance. This implies that internal managerial incentives play a more important role than shareholders' external monitoring in improving corporate governance quality. We also found an inverted U-shaped relationship between state ownership and Tobin's Q, indicating that partial privatisation possibly is an efficient way to improve firm performance. | |
dc.format.extent | pp.416-428 | |
dc.identifier | https://www.webofscience.com/api/gateway?GWVersion=2&SrcApp=elements_prod&SrcAuth=WosAPI&KeyUT=WOS:000416866300005&DestLinkType=FullRecord&DestApp=WOS_CPL | |
dc.identifier.citation | Hoang, L.T., Nguyen, C.C., & Hu, B. (2017). Ownership structure and firm performance improvement: Does it matter in the Vietnamese Stock Market? Economic Papers. doi:10.1111/1759-3441.12185 | |
dc.identifier.doi | 10.1111/1759-3441.12185 | |
dc.identifier.eissn | 1759-3441 | |
dc.identifier.issn | 0812-0439 | |
dc.identifier.other | FO5CI (isidoc) | |
dc.identifier.uri | https://hdl.handle.net/10182/9426 | |
dc.language | en | |
dc.language.iso | en | |
dc.publisher | Wiley on behalf of Economic Society of Australia | |
dc.relation | The original publication is available from Wiley on behalf of Economic Society of Australia - https://doi.org/10.1111/1759-3441.12185 - http://dx.doi.org/10.1111/1759-3441.12185 | |
dc.relation.isPartOf | Economic Papers | |
dc.relation.uri | https://doi.org/10.1111/1759-3441.12185 | |
dc.rights | © 2017 The Economic Society of Australia | |
dc.subject | block ownership | |
dc.subject | firm performance | |
dc.subject | managerial ownership | |
dc.subject | ownership structure | |
dc.subject | state ownership | |
dc.subject.anzsrc2020 | ANZSRC::3502 Banking, finance and investment | |
dc.subject.anzsrc2020 | ANZSRC::3801 Applied economics | |
dc.title | Ownership structure and firm performance improvement: Does it matter in the Vietnamese Stock Market? | |
dc.type | Journal Article | |
lu.contributor.unit | LU | |
lu.contributor.unit | LU|Faculty of Agribusiness and Commerce | |
lu.contributor.unit | LU|Faculty of Agribusiness and Commerce|GVCT | |
lu.contributor.unit | LU|Faculty of Agribusiness and Commerce|FABS | |
lu.contributor.unit | LU|Research Management Office | |
lu.contributor.unit | LU|Research Management Office|OLD QE18 | |
lu.identifier.orcid | 0000-0002-7563-2374 | |
lu.identifier.orcid | 0000-0002-0991-1375 | |
pubs.issue | 4 | |
pubs.publication-status | Published | |
pubs.publisher-url | http://dx.doi.org/10.1111/1759-3441.12185 | |
pubs.volume | 36 |