A Tale of Two Cities: Economic Development, Corporate Governance and Firm Value in Vietnam

Authors

Thomas J. Connelly, Chulalongkorn University
Piman Limpaphayom, Portland State UniversityFollow
Hien T. Nguyen, Vietnam National University
Thanh D. Tran, Vietnam National University

Published In

Research in International Business and Finance

Document Type

Citation

Publication Date

12-1-2017

Abstract

This study examines the moderating effect of financial and economic development on the relation between corporate governance and firm value in Vietnam, which has two exchanges, one located in the business center in the South, and the other located in the center of government in the North. This unique setting allows an investigation of corporate governance dynamics controlling for legal jurisdiction. The results show a positive relation between corporate governance and firm value in Ho Chi Minh City but not in Hanoi. The finding suggests that financial and economic development play critical roles in enhancing the benefits of corporate governance in emerging markets.

Locate the Document

http://dx.doi.org/10.1016/j.ribaf.2017.04.002

DOI

10.1016/j.ribaf.2017.04.002

Persistent Identifier

http://archives.pdx.edu/ds/psu/23513

Citation Details

Connelly, J. T., Limpaphayom, P., Nguyen, H. T., & Tran, T. D. (2017). A tale of two cities: Economic development, corporate governance and firm value in Vietnam. Research in International Business and Finance, 42, 102-123.