The impact of corporate governance on the working capital management of Vietnamese-listed firms during the COVID-19 pandemic period

Bui Anh Thanh and Nguyen Vinh Khuong

International Journal of Economic Policy in Emerging Economies, 2024, vol. 20, issue 5, 24-40

Abstract: This study evaluates the impact of corporate governance (CG) on the working capital management (WCM) of non-financial companies listed on the Vietnam stock market. In this study, we use the system generalised method of moments (SysGMM) regression method with panel data of 552 companies in 2015-2022 to examine the relationship mentioned above. The findings indicate a positive relationship between CG and WCM. This study provides empirical evidence regarding the role of CG mechanisms in the effectiveness of WCM strategies. Simultaneously, it expands current academic literature by introducing new empirical evidence that applies to countries with circumstances similar to Vietnam, especially amid economic crises and the aftermath of the post-COVID-19 epidemic. These discoveries offer managers, investors, and other interested parties valuable insights.

Keywords: working capital management; WCM; corporate governance; CG; COVID-19; Vietnam. (search for similar items in EconPapers)
Date: 2024
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