State ownership, sovereign wealth fund and their effects on firm performance: Empirical evidence from Vietnam
| Autor: | Huu Viet Phan, Katsuyuki Kubo |
|---|---|
| Rok vydání: | 2019 |
| Předmět: |
040101 forestry
Economics and Econometrics 050208 finance Corporate governance media_common.quotation_subject 05 social sciences ComputingMilieux_LEGALASPECTSOFCOMPUTING 04 agricultural and veterinary sciences Monetary economics State ownership Shareholder State (polity) Sovereign wealth fund 0502 economics and business 0401 agriculture forestry and fisheries Business Empirical evidence Finance media_common |
| Zdroj: | Pacific-Basin Finance Journal. 58:101220 |
| ISSN: | 0927-538X |
| DOI: | 10.1016/j.pacfin.2019.101220 |
| Popis: | This study investigates the effects of state ownership on firm performance using data on listed firms in Vietnam. We find that state ownership of listed firms is positively related to firm performance. In addition, we find that the effects of state ownership vary depending on the type of state ownership. Firms perform best when controlled by a state owner in the form of a sovereign wealth fund. We also find that the relationship between state ownership and firm performance is nonlinear. Overall, the study contributes significantly to the growing body of evidence on the effects of state ownership, the impact of the type of state owner, and the role of controlling shareholders in corporate governance frameworks. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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