Corporte governance structures and performance of firms in asian markets A compartive analysis between Singapore and Vietnam

A cross-country comparative analysis of corporate governance structures and fnancial performance of publicly listed companies in Singapore and Vietnam, covering a four-year period fom 2008 to 2011, is undertaken in this study. More specifcally, the similarities and differences in the corporate governance structures and fnancial performance of the companies are compared and interpreted in the institutional context of each market. On an average basis, we fnd that the size, composition and diversity of the boards in these two markets are statistically signifcantly different. In contrast, there is no statistical evidence to reject the similarities in ownership structure, board leadership structure, and fnancial performance between the frms of the two markets. In addition, our comparative analysis on the corporate governance structures'fnancial performance nexus also reveals that the performance effects of corporate governance structures vary signifcantly between the two markets, thus supporting the view that the performance effects of corporate governance structures are country-specifc. Our fndings suggest that country-level characteristics should be captured when modelling the corporate governance'frm performance relationship in cross-country comparative corporate governance research.

Title:

	Corporte governance structures and performance of firms in asian markets A compartive analysis between Singapore and Vietnam
Authors:	N., Van Tuan N., A. Tuan
Keywords:	Comparative study Corporate governance Firm performance Singapore Vietnam
Issue Date:	2016
Publisher:	Vilnius University
Citation:	Scopus
Abstract:	A cross-country comparative analysis of corporate governance structures and fnancial performance of publicly listed companies in Singapore and Vietnam, covering a four-year period fom 2008 to 2011, is undertaken in this study. More specifcally, the similarities and differences in the corporate governance structures and fnancial performance of the companies are compared and interpreted in the institutional context of each market. On an average basis, we fnd that the size, composition and diversity of the boards in these two markets are statistically signifcantly different. In contrast, there is no statistical evidence to reject the similarities in ownership structure, board leadership structure, and fnancial performance between the frms of the two markets. In addition, our comparative analysis on the corporate governance structures'fnancial performance nexus also reveals that the performance effects of corporate governance structures vary signifcantly between the two markets, thus supporting the view that the performance effects of corporate governance structures are country-specifc. Our fndings suggest that country-level characteristics should be captured when modelling the corporate governance'frm performance relationship in cross-country comparative corporate governance research.
Description:	Organizations and Markets in Emerging Economies Volume 7, Issue 2, 2016, Pages 112-140
URI:	http://repository.vnu.edu.vn/handle/VNU_123/29691
ISSN:	20294581
Appears in Collections:	Bài báo của ĐHQGHN trong Scopus