The monitoring role of nonexecutive directors in Vietnam from a return-volatility perspective

Autor:	To Anh Tho, Tran Quoc Tuan, Tran Thi Siem, Thai Kim Phong, Ho Thi Thu Hong
Jazyk:	angličtina
Rok vydání:	2020
Předmět:	corporate governance non-executive director firm risk Economic growth development planning HD72-88
Zdroj:	Ekonomski Anali, Vol 65, Iss 224, Pp 29-51 (2020)
Druh dokumentu:	article
ISSN:	0013-3264 1820-7375
DOI:	10.2298/EKA2024029T
Popis:	This study examines the relevance of board independence to stock return volatility for a sample of 160 companies listed on the Vietnamese stock market over ten years (2008-2017). After controlling for potential endogeneity, we find that the presence of non-executive directors on the board tends to increase firm risk. The results indicate that non-executive directors do not play a supervisory role under the agency theory. Our findings remain robust when we apply alternative measures of the dependent variable.
Databáze:	Directory of Open Access Journals
Externí odkaz:	https://doaj.org/article/48b7f17a2b8b43a588b0f3d3b1b3aab0 Zobrazit plný text záznamu View record in DOAJ Plný text ve formátu PDF