3,627
Views
4
CrossRef citations to date
0
Altmetric
FINANCIAL ECONOMICS

Institutional investors, corporate governance and firm performance in an emerging market: evidence from Vietnam

ORCID Icon &
Article: 2159735 | Received 14 Mar 2022, Accepted 13 Dec 2022, Published online: 22 Dec 2022

References

  • Alchian, A. A., & Demsetz, H. (1972). Production, information costs, and economic organization. The American Economic Review, 62(5), 5777–20. https://www.jstor.org/stable/1815199
  • Alghifari, E. S., Triharjono, S., & Juhaeni, Y. S. (2013). Effect of Return on Assets (ROA) against Tobin’s Q: Studies in food and beverage companies in Indonesia stock exchange years 2007-2011. International Journal of Science and Research, 2(1), 722–725. https://www.ijsr.net/archive/v2i1/IJSRON2013372.pdf
  • Bai, C.-E., Liu, Q., Lu, J., Song, F. M., & Zhang, J. (2004). Corporate governance and market valuation in China. Journal of Comparative Economics, 32(4), 599–616. https://doi.org/10.1016/j.jce.2004.07.002
  • Bhagat, S., & Bolton, B. (2008). Corporate governance and firm performance. Journal of Corporate Finance, 14(3), 257–273. https://doi.org/10.1016/j.jcorpfin.2008.03.006
  • Cornett, M. M., Marcus, A. J., Saunders, A., & Tehranian, H. (2007). The impact of institutional ownership on corporate operating performance. Journal of Banking & Finance, 31(6), 1771–1794. https://doi.org/10.1016/j.jbankfin.2006.08.006
  • Dahlquist, M., & Robersson, G. (2001). Direct foreign ownership, institutional investors, and firm characteristics. Journal of Financial Economics, 59(3), 413–440. https://doi.org/10.1016/S0304-405X(00)00092-1
  • Duc, V.H, & Thuy, P.B.G. (2013). Corporate governance and Firm’s performance: Empirical evidence from Vietnam. Journal of Economics Development, 218, 62–78. https://doi.org/10.24311/jed/2013.218.08
  • Ferreira, M. A., & Matos, P. (2008). The colors of investors’ money: The role of institutional investors around the world. Journal of Financial Economics, 88(3), 499–533. https://doi.org/10.1016/j.jfineco.2007.07.003
  • Giannetti, M., & Simonov, A. (2006). Which investors fear expropriation? Evidence from investors’ portfolio choices. The Journal of Finance, 61(3), 1507–1547. https://doi.org/10.1111/j.1540-6261.2006.00879.x
  • Gompers, P. A., Ishii, J. L., & Metrick, A. (2003). Corporate governance and equity prices. Quarterly Journal of Economics, 118(1), 107–155. https://doi.org/10.1162/00335530360535162
  • Gompers, P. A., & Metrick, A. (2001). Institutional investors and equity prices. The Quarterly Journal of Economics, 116(1), 229–259. https://doi.org/10.1162/003355301556392
  • Graves, S. B., & Waddock, S. A. (1994). Institutional owners and corporate social performance. The Academy of Management Journal, 37(4), 1034–1046. https://doi.org/10.2307/256611
  • Guo, L., & Platikanov, S. (2019). Institutional ownership and corporate governance of public companies in China. Pacific-Basin Finance Journal, 57(103), 101180. https://doi.org/10.1016/j.pacfin.2019.101180
  • Ha, N. M., & Hiep, P. (2019). The effect of institutional ownership on listed companies’ performance in Vietnam. International Journal of Economics and Business Research, 17(3), 317–332. https://doi.org/10.1504/IJEBR.2019.098878
  • Horváth, R., & Spirollari, P. (2012). Do the board of directors´ characteristics influence firm´s performance? The US Evidence. Prague Economic Papers, 21(4), 470–486. https://doi.org/10.18267/j.pep.435
  • Kumar, P., & Zattoni, A. (2015). Ownership structure, corporate governance and firm performance. Corporate Governance: An International Review, 23(6), 469–471. https://doi.org/10.1111/corg.12146
  • Lemmon, M. L., & Lins, K. V. (2003). Ownership structure, corporate governance, and firm value: Evidence from the east Asian financial crisis. The Journal of Finance, 58(4), 1445–1468. https://doi.org/10.1111/1540-6261.00573
  • Li, J., Lam, K., Qian, G., & Fang, Y. (2006). The effects of institutional ownership on corporate governance and performance: An empirical assessment in Hong Kong. MIR: Management International Review, 46(3), 259–276. https://www.jstor.org/stable/40836086
  • Lin, X., Zhang, Y., & Zhu, N. (2009). Does bank ownership increase firm value? Evidence from China. Journal of International Money and Finance, 28(4), 720–737. https://doi.org/10.1016/j.jimonfin.2008.12.015
  • Muniandy, P., Tanewski, G., & Johl, S. K. (2016). Institutional investors in Australia: Do they play a homogenous monitoring role? Pacific-Basin Finance Journal, 40(2), 266–288. https://doi.org/10.1016/j.pacfin.2016.01.001
  • Petersen, M. A. (2008). Estimating standard errors in finance panel data sets: Comparing approaches. Review of Financial Studies, 22(1), 435–480. https://doi.org/10.1093/rfs/hhn053
  • Ruiz-Mallorquí, M. V., & Santana-Martín, D. J. (2011). Dominant institutional owners and firm value. Journal of Banking & Finance, 35(1), 118–129. https://doi.org/10.1016/j.jbankfin.2010.07.020
  • Shleifer, A., & Vishny, R. W. (1986). Large shareholders and corporate control. Journal of Political Economy, 94(3, Part 1), 461–488. https://doi.org/10.1086/261385
  • Shleifer, A., & Vishny, R. W. (1997). A survey of corporate governance. The Journal of Finance, 52(2), 737–783. https://doi.org/10.1111/j.1540-6261.1997.tb04820.x
  • Utama, C. A., Utama, S., & Amarullah, F. (2017). Corporate governance and ownership structure: Indonesia evidence. Corporate Governance: The International Journal of Business in Society, 17(2), 165–191. https://doi.org/10.1108/CG-12-2015-0171
  • Yermack, D. (1996). Higher market valuation of companies with a small board of directors. Journal of Financial Economics, 40(2), 185–211. https://doi.org/10.1016/0304-405X(95)00844-5
  • Zattoni, A. (2011). Who should control a corporation? Towards a contingency stakeholder theory for allocating ownership rights. Journal of Business Ethics, 103(2), 255–274. https://doi.org/10.1007/s10551-011-0864-3
  • Zheka, V. (2005). Corporate governance, ownership structure, and corporate efficiency: The case of Ukraine. Managerial and Decision Economics, 26(7), 451–460. https://doi.org/10.1002/mde.1258