The Moderating Effects of State Ownership and Duality on the Relationship between Internationalisation and Firm Performance: A Case Study of Listed Firms in Vietnam

IF 16.4 1区化学 Q1 CHEMISTRY, MULTIDISCIPLINARY

Accounts of Chemical Research Pub Date : 2023-06-30 DOI:10.21315/aamj2023.28.1.8

Anh Que Tran, Dut Van Vo

引用次数: 0

Abstract

This study was aimed at assessing the moderating effects of state ownership and chief executive officer (CEO) duality on the relationship between internationalisation and the performance of listed firms in the Hanoi Stock Exchange (HNX). A detailed panel data set of listed firms between 2009 and 2018 was analysed and the ordinary least squares (OLS) results revealed that the performance of high internationalising firms with high state ownership was higher than that of those with low or non-state ownership. In contrast, the performance of high internationalising firms governed by CEO duality was lower than that of those without duality. The findings integrate the arguments of the resource-based view and the Uppsala model applied in the transition economy that suggest internationalising listed firms acquire certain benefits from the state, and the separation of the highest two positions in such firms facilitates the exact anticipation of uncertainties and risks in making business decisions.

查看原文本刊更多论文

国有制和二元性对国际化与企业绩效关系的调节作用——以越南上市公司为例

本研究旨在评估国家所有权和首席执行官二元性对河内证券交易所上市公司国际化与业绩之间关系的调节作用。对2009年至2018年间上市公司的详细面板数据集进行了分析，普通最小二乘法（OLS）结果显示，高国有制的高国际化公司的业绩高于低国有制或非国有制的公司。相比之下，CEO双重性管理的高度国际化公司的业绩低于没有双重性的公司。研究结果整合了基于资源的观点和转型经济中应用的乌普萨拉模型的论点，这些论点表明国际化上市公司从国家获得了一定的利益，而将这些公司的最高两个职位分开有助于准确预测商业决策中的不确定性和风险。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文求助全文

来源期刊

Accounts of Chemical Research 化学-化学综合

CiteScore

31.40

自引率

1.10%

发文量

312

审稿时长

2 months

期刊介绍： Accounts of Chemical Research presents short, concise and critical articles offering easy-to-read overviews of basic research and applications in all areas of chemistry and biochemistry. These short reviews focus on research from the author’s own laboratory and are designed to teach the reader about a research project. In addition, Accounts of Chemical Research publishes commentaries that give an informed opinion on a current research problem. Special Issues online are devoted to a single topic of unusual activity and significance. Accounts of Chemical Research replaces the traditional article abstract with an article "Conspectus." These entries synopsize the research affording the reader a closer look at the content and significance of an article. Through this provision of a more detailed description of the article contents, the Conspectus enhances the article's discoverability by search engines and the exposure for the research.