Does Firm Performance Withstand the Test of Time? New Evidence from a Transactional Economy

R. Dang, L. Hikkerova, L'Hocine Houanti (), N.T. Le and M.-C. Vu
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L'Hocine Houanti: Métis Lab EM Normandie - EM Normandie - École de Management de Normandie = EM Normandie Business School

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Abstract: Few studies have examined how the age of a firm can influence its economic performance over time. This study fills that gap by examining this issue from a large and unique sample of Vietnamese listed companies. Overall, we find evidence of a U-shaped relationship between firm age and firm performance (an initially negative effect of firm age on firm performance before the positive returns of firm age are realised). Our main findings are consistent with the liability of the `market newness' hypothesis. \textcopyright 2021 Informa UK Limited, trading as Taylor & Francis Group.

Keywords: Firm age; firm performance; stock market; transactional economy; Vietnam (search for similar items in EconPapers)
Date: 2022
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Published in Post-Communist Economies, 2022, 34 (3), pp.328-349. ⟨10.1080/14631377.2021.1886791⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-04435623

DOI: 10.1080/14631377.2021.1886791

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