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Test of the Strategic Market-Entry Hypothesis: Evidence from Corporate Governance in Vietnam

Man Dang (), Duong Viet Anh Hoang, Thuy Dung Le and Phuong Uyen Le

Chapter 1 in Recent Developments in Vietnamese Business and Finance, 2021, pp 3-26 from World Scientific Publishing Co. Pte. Ltd.

Abstract: This study tests the strategic market-entry hypothesis by examining the acquisition location decisions (domestic vs. cross-border) of acquirers in the Vietnamese mergers and acquisitions market through the lens of corporate governance quality. Using a comprehensive dataset of target firms listed on Vietnamese exchanges, this study finds that cross-border firms prefer target firms with good corporate governance that enable them to quickly adapt to markets and reduce information asymmetry and differences of accounting practices, cultures, and legal frameworks. This result supports the view that cross-border acquisitions provide a method of strategic entry into foreign markets.

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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