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Stewardship Theory and Information on Family Firm Performance in Vietnam
Thi Thanh Binh DAO(Thi Thanh Binh DAO ),Linh Chi HOANG(Linh Chi HOANG ) 한국유통과학회 2022 유통과학연구 Vol.20 No.12
Purpose: The paper contributes to the existing literature on Vietnamese corporate governance and firm performance with a focus on listed family firms and the use of a more suitable econometric framework to analyze firm performance. The study investigates how family firm performance is affected by corporate governance under the standpoint of stewardship theory in Vietnam. Research design, data and methodology: With the use of different measures for firm performance (Tobin’s Q, ROA, and ROE), regression models were estimated using Generalized Least Square (GLS) method on a panel data of a total of 113 listed companies during the five-year period from 2015 to 2019. Results: We found that family ownership as the main characteristic of the stewardship theory affects family firms positively. In addition, several other characteristics in corporate governance as board composition (board independence, board audits, and board committees), CEO (age and tenure) and firm characteristics (size, age, expansion, and annual sales) showed significant impacts on firm performance. Our findings also suggest that family firm performance can be either positively or negatively affected based on the characteristics of corporate governance. The findings can help companies evaluate the significance of corporate governance through deciding board structure and the selection of CEOs to match family firm characteristics. It also gives insights for investors, rating agencies, and policymakers for relevant purposes.
Loc My Thi Nguyen,Tien-Trung Nguyen,Thanh Thi Nghiem,Hien Thu Thi Le,Thao Phuong Thi Trinh,Thuan Van Pham,Thanh Chi Nguyen,Linh Khanh Hoang,Trung Tran 한국과학학술지편집인협의회 2020 Science Editing Vol.7 No.1
In the context of the need to ensure appropriate signalling of the publication of high-quality, international-calibre publications in Vietnam, as well as new policies to improve the quality and effectiveness of scientific research in Vietnam, it is practical to investigate the possibility of developing a national open access database (NOAD). This study aims to answer the question of whether it is necessary to establish a NOAD in Vietnam. We used document analysis to evaluate issues related to NOADs. The results of this study show the complexity, lack of consistency, and difficulty in obtaining practical statistics and assessing research and scientific records in Vietnam today. Furthermore, the findings of this study imply that it is necessary to establish a NOAD of scientific research in Vietnam. The information in this report can be used to develop a NOAD for Vietnam in particular, and for any country that lacks one in general.