Model Building and Concluding Thoughts

Nga Pham () and Kok-Boon Oh ()
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Nga Pham: Monash University
Kok-Boon Oh: eGalaxy Solutions

Chapter Chapter 9 in State on Board!, 2021, pp 221-247 from Springer

Abstract: Abstract In this chapter, we consolidate different corporate features and institutional factors affecting Vietnamese firms’ M&As into a theoretical model. We discuss how the model incorporates new elements into agency theory to enhance its relevance and widen its application in a political and institutional context. Three practical models are also presented here to offer academics, practitioners and businesses a contextualised framework for analysing an investment in SIEs and conducting M&As in emerging markets. We advocate that robust theories that are locally relevant are highly needed now in studies on emerging markets. The negative impact of state ownership on Vietnamese M&A outcomes is different from what is observed in China. We explain why efforts to improve the efficiency of state ownership in Vietnam have resulted in so little success compared to China, where both are emerging markets with a similar culture, history and political background. Chapter 9 concludes the book by discussing the postulations, practical application and recommends where future research is needed.

Keywords: SOE; Corporate governance; Emerging markets; Vietnam; M&A model (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-16-3525-0_9

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DOI: 10.1007/978-981-16-3525-0_9

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