Ownership structure and firm performance: evidence from Vietnamese listed firms
We examine the effect of ownership structure on firm performance, for firms listed on Vietnamese stock exchanges, using 2744 firm-year observations over the period from 2007 to 2012. We find a non-linear relationship between ownership structure and firm performance. State ownership has a convex rela...
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| Định dạng: | Journal Article |
| Ngôn ngữ: | English |
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John Wiley & Sons, Inc.
2017
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| Truy cập trực tuyến: | http://digital.lib.ueh.edu.vn/handle/UEH/56249 https://doi.org/10.1111/1467-8454.12056 |
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oai:localhost:UEH-562492020-05-06T03:24:20Z Ownership structure and firm performance: evidence from Vietnamese listed firms Duc Nam Phung Anil V. Mishra N/A We examine the effect of ownership structure on firm performance, for firms listed on Vietnamese stock exchanges, using 2744 firm-year observations over the period from 2007 to 2012. We find a non-linear relationship between ownership structure and firm performance. State ownership has a convex relationship with firm performance. This paper finds that firm performance increases beyond 28.67 percent level of state ownership. Foreign ownership has a concave relationship with firm performance. We find that firm performance increases with an increase of foreign ownership up to a level of 43 percent and then decreases. Policy makers should encourage foreign ownership and widely dispersed state ownership in firms, which can help improve firm performance. 2017-11-03T10:13:46Z 2017-11-03T10:13:46Z 2016 Journal Article 1467-8454 http://digital.lib.ueh.edu.vn/handle/UEH/56249 https://doi.org/10.1111/1467-8454.12056 en Australian Economic Papers Vol. 55, Issue 1 none Portable Document Format (PDF) 63 98 John Wiley & Sons, Inc. |
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Đại học Kinh tế Thành phố Hồ Chí Minh |
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DSpaceUEH |
| language |
English |
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N/A |
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N/A Duc Nam Phung Ownership structure and firm performance: evidence from Vietnamese listed firms |
| description |
We examine the effect of ownership structure on firm performance, for firms listed on Vietnamese stock exchanges, using 2744 firm-year observations over the period from 2007 to 2012. We find a non-linear relationship between ownership structure and firm performance. State ownership has a convex relationship with firm performance. This paper finds that firm performance increases beyond 28.67 percent level of state ownership. Foreign ownership has a concave relationship with firm performance. We find that firm performance increases with an increase of foreign ownership up to a level of 43 percent and then decreases. Policy makers should encourage foreign ownership and widely dispersed state ownership in firms, which can help improve firm performance. |
| author2 |
Anil V. Mishra |
| author_facet |
Anil V. Mishra Duc Nam Phung |
| format |
Journal Article |
| author |
Duc Nam Phung |
| author_sort |
Duc Nam Phung |
| title |
Ownership structure and firm performance: evidence from Vietnamese listed firms |
| title_short |
Ownership structure and firm performance: evidence from Vietnamese listed firms |
| title_full |
Ownership structure and firm performance: evidence from Vietnamese listed firms |
| title_fullStr |
Ownership structure and firm performance: evidence from Vietnamese listed firms |
| title_full_unstemmed |
Ownership structure and firm performance: evidence from Vietnamese listed firms |
| title_sort |
ownership structure and firm performance: evidence from vietnamese listed firms |
| publisher |
John Wiley & Sons, Inc. |
| publishDate |
2017 |
| url |
http://digital.lib.ueh.edu.vn/handle/UEH/56249 https://doi.org/10.1111/1467-8454.12056 |
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AT ducnamphung ownershipstructureandfirmperformanceevidencefromvietnameselistedfirms |
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