Corporate governance, diversification strategies and firm performance: Evidence from listed companies on Hochiminh stock exchange

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Corporate governance, diversification strategies and firm performance: Evidence from listed companies on Hochiminh stock exchange

By Nguyen Thi Thu Thanh (VNP 25)

Supervisor: Dr. Vu Viet Quang

Abstract:

This study investigated the effects of corporate governance on the levels of diversification in Vietnam, a developing country in Asia, and explored the effectiveness of the diversification strategy to firm performance. The data of 111 listed firms on HOSE from 2010 to 2019 was collected. By using OLS, FEM, REM, the study concluded agency theory could explain the relationship between corporate governance and diversification in case of Vietnam. The relationship between CEO’s ownership or board size, board independence and diversification were not significant, while the duality in position of CEO and blockholder had negative impact on the degree of diversification. However, in this study, there was no statistical evidence to specify the relationship between diversification and firm performance.

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Nguyen Thi Thu Thanh_VNP25_2020.pdf

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