| dc.description.abstract | In this thesis, I examine three corporate governance related issues, namely, the determinants
of corporate governance (leadership structure, board composition and board size), the
relationship between corporate governance and firm performance (ROA, ROE and Tobin‟s
Q), the impact of six industrial sectors on firm performance (HEALTH, SERVICE, GOODS,
INDUSTRIAL, FINANCE and INDUSTRY), the firm performance between parent and
subsidiaries firms within a group, and the corporate governance culture of firms inside
business groups. This study employed panel data analysis by using fixed-effect estimation of
top 100 listed firms on the HOSE for a period of four years from 2009 to 2012. Empirical
result shows that board size, industrial sectors and business affiliation have positive and
significant impact on firm performance. The two corporate governance mechanisms
leadership structure and board composition are found that they are not to be significantly and
positively related to firm performance in the Vietnam context. For firms with high
performance, investors additionally notice the valuation of firms with larger boards and in
HEALTH or GOODS sectors.
Keywords: Corporate Governance, Firm Performance, Industrial Groups, Business
Group Affiliation. | en_US |
