Determinants of Gender Diversity and Nationality Diversity of the Boards in Vietnamese Listed Firms

My Tran Ngo and Hong My Ai Le

Chapter 12 in Recent Developments in Vietnamese Business and Finance, 2021, pp 271-295 from World Scientific Publishing Co. Pte. Ltd.

Abstract: This study aims at identifying the determinants of gender diversity and nationality diversity in the boards of Vietnamese listed firms. The data are hand-collected from 257 companies listed on the Ho Chi Minh stock exchange (HOSE) and 214 companies listed on the Ha Noi stock exchange (HNX) in the period 2015–2017. The main analyzing methods include Pooled OLS, REM, FEM, and GMM. The research results show that gender diversity is determined by three factors, industry, family firm, and board size. Concerning the determinants of nationality diversity of the board, there is evidence that firm size, foreign ownership, state ownership, and proportion of foreign sales predict the nationality diversity. Based on these results, some administrative implications are proposed to improve the structure of the board, including expanding business scale, promoting exports, limiting the increase in the number of members on the board of directors, reducing state ownership, and increasing foreign ownership.

Keywords: Vietnam; Business; Finance; Economy; Economics; Banking; Gender Equality; Management; Business Research (search for similar items in EconPapers)
JEL-codes: F2 F3 F4 (search for similar items in EconPapers)
Date: 2021
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