Consequences of COVID-19 on Vietnamese extractive industry: empirical evidence

Malik Abu Afifa, Nha Minh Nguyen and Hien Vo Van

International Journal of Business Excellence, 2024, vol. 34, issue 3, 417-430

Abstract: This research aims to investigate the change of corporate performance of extractive listed corporates in Vietnam, and to test theories on the capital structure by considering the influence of COVID-19 pandemic. Our sample comprises Vietnamese extractive corporates listed on HOSE, HNX and Upcom. Using GMM estimation method, the findings demonstrate that there is a negative and substantial influence of leverage on discretionary and non-discretional performance, which suitable for trade-off theory and pecking-order theory. However, COVID-19 pandemic does not seriously impact the extractive corporate performance. Additionally, Vietnamese extractive corporates tend to use earnings management to reduce the influence of COVID-19 pandemic.

Keywords: firm performance; COVID-19 pandemic; Vietnam; extractive industry; trade-off theory; pecking-order theory. (search for similar items in EconPapers)
Date: 2024
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