Relationship between board ownership structure and firm financial performance in transitional economy: The case of Vietnam

Manh-Chien Vu, Thanh Tu Phan and Nhu Tuyen Le

Research in International Business and Finance, 2018, vol. 45, issue C, 512-528

Abstract: Our study analyzes the relationship between Board ownership structure and firm financial performance by an empirical study of 557 firms listed on Vietnam stock exchanges from their listing year to 2014. The regression results indicate that the number of members in BOD, the ownership concentration in BOD, the CEO ownership influence positively ROA, but do not have any impact on ROE. Surprisingly, the stability of BOD influences negatively the firm financial performance, both its ROA and ROE. The independent members, the number of women members, Chairman and CEO position have no significant impact, neither ROA or ROE of the firm.

Keywords: Ownership structure; Corporate governance; Firm performance; Board of directors; Transitional economy; Vietnam (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:riibaf:v:45:y:2018:i:c:p:512-528

DOI: 10.1016/j.ribaf.2017.09.002

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