Does corporate governance influence firm performance? Quantile regression evidence from a transactional economy

Rey Dang (), L'Hocine Houanti (), Tuyen Le Nhu and M-C Vu
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Rey Dang: ICN Business School
L'Hocine Houanti: La Rochelle Business School
Tuyen Le Nhu: EESC-GEM Grenoble Ecole de Management
M-C Vu: Vietnam University of Commerce (VCU)

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Abstract: This study examines the impact of corporate governance structures on firm performance using a unique sample of 478 non-financial companies listed on the two main Vietnamese stock exchanges. Given the contrasting existing empirical results, we adopt the method of quantile regression (QR) and report some robust and significant negative relationship between board independence/Chief Executive Officer duality and firm performance. These findings seem rather corroborate the agency theory. Furthermore, the use of QR may be more insightful than estimating the mean effect of the response variable.

Keywords: firm performance; Quantile regression; transactional economy; corporate governance (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (3)

Published in Applied Economics Letters, 2018, 25 (14), pp.984-988. ⟨10.1080/13504851.2017.1390309⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-01768881

DOI: 10.1080/13504851.2017.1390309

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