| dc.description.abstract | This study investigates the impacts of agency costs on firm performance, particularly concentrating on 160 firms listed in Ho Chi Minh Stock Exchange (HOSE). The purpose is to test and to reveal the way through which agency costs influence firm performance and why the matter is worthy of examination. There are various proxy variables, besides FCF, that can estimate agency costs, namely total asset turnover, operating expense ratio as well as two control variable, specifically firm size and debt ratio. Therefore, the study seeks to practically test the relationship amidst these variables which measure agency costs and firm performance, shown in ROA and ROE. In the end, the result shows that amongst five independent variables, only FCF and total asset turnover have positive linkage with firm performance and statistically significance. These consist with the findings in the studies by Wang (2010). Consequently, the final results cannot reflect completely the effects of agency costs on firm performance. This paper is merely a little contributing perspective to the researches field of agency issue in Vietnam, which is still deficient and requiring more exploration. | en_US |
