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Does corporate governance influence firm performance? Quantile regression evidence from a transactional economy

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  • R. Dang A.
  • L. Houanti
  • N. T. Le
  • M.-C. Vu

Abstract

This study examines the impact of corporate governance structures on firm performance using a unique sample of 478 non-financial companies listed on the two main Vietnamese stock exchanges. Given the contrasting existing empirical results, we adopt the method of quantile regression (QR) and report some robust and significant negative relationship between board independence/Chief Executive Officer duality and firm performance. These findings seem rather corroborate the agency theory. Furthermore, the use of QR may be more insightful than estimating the mean effect of the response variable.

Suggested Citation

  • R. Dang A. & L. Houanti & N. T. Le & M.-C. Vu, 2018. "Does corporate governance influence firm performance? Quantile regression evidence from a transactional economy," Applied Economics Letters, Taylor & Francis Journals, vol. 25(14), pages 984-988, August.
    • Handle: RePEc:taf:apeclt:v:25:y:2018:i:14:p:984-988
    DOI: 10.1080/13504851.2017.1390309
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    Cited by:

    1. Muhammad Yusuf Amin & Zahoor Ul Haq, 2022. "BRIC without B: Does ownership structure matters for firm performance in emerging economies?," Quality & Quantity: International Journal of Methodology, Springer, vol. 56(1), pages 217-226, February.
    2. Ahmed Hassanein & Jamal Ali Al-Khasawneh & Hany Elzahar, 2022. "R&D expenditure and managerial ownership: evidence from firms of high-vs-low R&D intensity," Journal of Financial Reporting and Accounting, Emerald Group Publishing Limited, vol. 21(3), pages 654-672, January.
    3. Jean-Michel Sahut & Rey Dang & L'Hocine Houanti & Nhu Tuyen Le, 2020. "Women on corporate boards, stated-owned enterprises and firm performance: Evidence from Vietnam and quantile regression," Economics Bulletin, AccessEcon, vol. 40(3), pages 2538-2549.
    4. Anh Huu Nguyen & Duong Thuy Doan & Linh Ha Nguyen, 2020. "Corporate Governance and Agency Cost: Empirical Evidence from Vietnam," JRFM, MDPI, vol. 13(5), pages 1-15, May.

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