State ownership, sovereign wealth fund and their effects on firm performance: Empirical evidence from Vietnam

Katsuyuki Kubo*, Huu Viet Phan

*この研究の対応する著者

研究成果: Article査読

4 被引用数 (Scopus)

抄録

This study investigates the effects of state ownership on firm performance using data on listed firms in Vietnam. We find that state ownership of listed firms is positively related to firm performance. In addition, we find that the effects of state ownership vary depending on the type of state ownership. Firms perform best when controlled by a state owner in the form of a sovereign wealth fund. We also find that the relationship between state ownership and firm performance is nonlinear. Overall, the study contributes significantly to the growing body of evidence on the effects of state ownership, the impact of the type of state owner, and the role of controlling shareholders in corporate governance frameworks.

本文言語English
論文番号101220
ジャーナルPacific Basin Finance Journal
58
DOI
出版ステータスPublished - 2019 12

ASJC Scopus subject areas

  • 財務
  • 経済学、計量経済学

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