The influence of firm life cycle on firm risk-taking: evidence of Vietnam

Nguyen-Quynh-Nhu Ngo (), Cam-Nguyen Nguyen (), Nguyen-Nhu-Ngoc Ngo () and Thanh-Khang Nguyen ()
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Nguyen-Quynh-Nhu Ngo: Ton Duc Thang University
Cam-Nguyen Nguyen: Ton Duc Thang University
Nguyen-Nhu-Ngoc Ngo: Western Sydney University
Thanh-Khang Nguyen: Ton Duc Thang University

International Review of Economics, 2024, vol. 71, issue 3, No 13, 726 pages

Abstract: Abstract Our study investigates risk-taking behavior among Vietnamese listed companies during 20 years (2000–2020). We acknowledge that regardless stages of companies, firms have tendency to take more risks, and that risk-taking activities in the course of the introduction and maturity phases can have both negative and positive forces on current and future performance. Additionally, the paper explored the moderating forces of the Z-score and HHI Index on this relationship. The paper contributes to the state-of-the-art by supplying empirical evidence about the relation between corporate life phases and willingness to take risk in Vietnamese non-financial firms. It provides a firm life cycle methodology to aid managers in developing appropriate strategies and sheds new light on the moderating effects of Z-score as well as market competition on the link.

Keywords: Firm life cycle; Firm risk-taking; Developing countries; Z-score; Market competition; Moderating effect; Covid pandemic (search for similar items in EconPapers)
JEL-codes: G30 G32 G33 (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1007/s12232-024-00463-w

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