Impact of Agency Costs on Firm Performance: Evidence from Vietnam

被引：7

作者：

Le Duc Hoang ^{[1
]}

Tran Minh Tuan ^{[1
]}

Pham Van Tue Nha ^{[1
]}

Tran Phi Long ^{[1
]}

Ta Thu Phuong ^{[1
]}

机构：

[1] Natl Econ Univ, Hanoi, Vietnam

来源：

ORGANIZATIONS AND MARKETS IN EMERGING ECONOMIES | 2019年 / 10卷 / 02期

关键词：

agency cost; firm performance; leverage; CORPORATE GOVERNANCE MECHANISMS; OWNERSHIP STRUCTURE; BOARD STRUCTURE; COMPANIES;

D O I：

10.15388/omee.2019.10.15

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

An assumption in agency costs theory is that agency costs can exert a negative impact on firm performance. In this study, we examine the impact of agency costs on firm performance of Vietnamese listed companies. Our sample includes 736 companies in Vietnam during the period from 2010 to 2015. We find that agency costs exert a negative impact on firm performance. Our results are robust to alternative econometric models, including an instrumental variables technique and a system generalized method of moment model. In addition, we show that a debt instrument can be a useful tool to reduce the negative impact of agency costs on firm performance.

引用

页码：294 / 309

页数：16

共 50 条

[41] Do sustainability innovation and firm competitiveness help improve firm performance? Evidence from the SME sector in vietnam
Le, Thanh Tiep
Ikram, Muhammad
SUSTAINABLE PRODUCTION AND CONSUMPTION, 2022, 29 : 588 - 599
[42] Anti-Corruption Campaign and Firm Financial Performance: Evidence From Vietnam Firms
Khanh Hoang
Doan, Hieu T.
Tran, Thanh T.
Nguyen, Thang X.
Le, Anh Q.
EVALUATION REVIEW, 2022, 46 (02) : 103 - 137
[43] Institutional investors, corporate governance and firm performance in an emerging market: evidence from Vietnam
Hong, Nguyen Thi Hoa
Linh, Tran Khanh
COGENT ECONOMICS & FINANCE, 2023, 11 (01):
[44] The effects of organizational mindfulness on ethical behaviour and firm performance: empirical evidence from Vietnam
Nguyen, Nguyen Phong
Wu, Huiying
Evangelista, Felicitas
Nguyen, Thu Ngoc Quynh
ASIA PACIFIC BUSINESS REVIEW, 2020, 26 (03) : 313 - 335
[45] Board Gender Diversity and Firm Performance: Evidence from Listed Energy Firms in Vietnam
Tran, Vu Hoang
Le, Ai Nhan Ngoc
Nguyen, Nam Trung
Ho, Tung Thanh
MONTENEGRIN JOURNAL OF ECONOMICS, 2024, 20 (04)
[46] Firm efficiency in a transitional economy: Evidence from Vietnam
Tran, Thi Bich
Grafton, R. Quentin
Kompas, Tom
ASIAN ECONOMIC JOURNAL, 2008, 22 (01) : 47 - 66
[47] Government cost and firm value: Evidence from Vietnam
Dong Phong Nguyen
Xuan Vinh Vo
Thi Tuan Anh Tran
Thi Kim Thoa Tu
RESEARCH IN INTERNATIONAL BUSINESS AND FINANCE, 2018, 46 : 55 - 64
[48] Firm Growth and Corruption: Empirical Evidence from Vietnam
Bai, Jie
Jayachandran, Seema
Malesky, Edmund J.
Olken, Benjamin A.
ECONOMIC JOURNAL, 2019, 129 (618): : 651 - 677
[49] IMPACT OF GOVERNANCE FACTORS ON FIRM PERFORMANCE: A CASE FROM VIETNAM CONSUMER GOODS FIRMS
Chi Dieu Thi Nguyen
JOURNAL OF ORGANIZATIONAL BEHAVIOR RESEARCH, 2022, 7 (01): : 170 - 181
[50] The impact of privatization on firm performance in a transition economy - The case of Vietnam
Truong Dong Loc
Lanjouw, Ger
Lensink, Robert
ECONOMICS OF TRANSITION, 2006, 14 (02) : 349 - 389

← 1 2 3 4 5 →