Women on corporate boards, stated-owned enterprises and firm performance: Evidence from Vietnam and quantile regressi

Jean-Michel Sahut, L'Hocine Houanti (), Rey Dang () and Michel Simioni
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Jean-Michel Sahut: IDRAC Business school Lyon - Institut pour le Développement et la Recherche d'Action Commerciale - Université de Lyon
L'Hocine Houanti: Métis Lab EM Normandie - EM Normandie - École de Management de Normandie = EM Normandie Business School
Rey Dang: ISTEC - Institut supérieur des Sciences, Techniques et Economie Commerciales - ISTEC
Michel Simioni: UMR MoISA - Montpellier Interdisciplinary center on Sustainable Agri-food systems (Social and nutritional sciences) - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - IRD - Institut de Recherche pour le Développement - CIHEAM-IAMM - Centre International de Hautes Etudes Agronomiques Méditerranéennes - Institut Agronomique Méditerranéen de Montpellier - CIHEAM - Centre International de Hautes Études Agronomiques Méditerranéennes - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro Montpellier - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement

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Abstract: Using a unique sample of 498 non-financial companies listed on the two main Vietnamese stock exchanges between 2009 and 2014, we investigate the relationship between firm performance (FP) and women on corporate boards (WOCB), using the instrumental variable quantile regression panel data suggested by Powell (2016) to take into account heterogeneity and endogeneity issues. Compared to existing studies, we consider the Vietnamese institutional context through the weight and the role of the State. We find that, overall, WOCB have a negative influence on FP in State-owned enterprises (SOEs). This finding recognizes the importance of the State in a transactional economy, such as Vietnam, and the role of institutional context in the relationship between WOCB and FP.

Date: 2020-09-24
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Published in Economics Bulletin, 2020, 40 (3)

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-05493068

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