Corporate governance and financial distress: An endogenous switching regression model approach in vietnam

Autor:	Khiem Dieu Truong
Jazyk:	angličtina
Rok vydání:	2022
Předmět:	Corporate governance financial distress emerging countries endogenous switching regression G340 G320 Finance HG1-9999 Economic theory. Demography HB1-3840
Zdroj:	Cogent Economics & Finance, Vol 10, Iss 1 (2022)
Druh dokumentu:	article
ISSN:	23322039 2332-2039
DOI:	10.1080/23322039.2022.2111812
Popis:	This study aims to determine the impact of Corporate Governance on the relationship between the macro and micro factors causing financial distress in 240 Vietnamese listed non-financial firms. The study also investigates the marginal benefits of different corporate governance practices by applying an endogenous switching regression model (ESRM). The research clarifies that a firm with strong corporate governance practice has a low probability of financial distress compared to a weak corporate governance firm. Moreover, the risk of financial distress is significantly reduced when improving the corporate governance practice. This paper contributes empirical evidence on the predominant benefit of strong corporate governance practices and marginal benefit in risk mitigation in enhancing corporate governance. The article suggests that Vietnamese firms should implement strong corporate governance to overcome the risk of financial distress.
Databáze:	Directory of Open Access Journals
Externí odkaz:	https://doaj.org/article/68968ac16ab34e519cd559a9d1027cc3 Zobrazit plný text záznamu View record in DOAJ Plný text ve formátu PDF Plný text ve formátu HTML
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