Government Ownership and Firm Performance: The Case of Vietnam  

Oleh:

Ngo, My Tran ; Nonneman, Walter ; Jorissen, Ann

Jenis: Article from Proceeding
Dalam koleksi: SIBR-Thammasat 2014 Conference on Interdisciplinary Business & Economics Research June 5th- 7th, 2014 di Emerald Hotel Bangkok, page 1-26.
Topik: government ownership; firm performance; dynamic model and interaction effect
Fulltext: b14-065.pdf (332.34KB)

Isi artikel

This study extends some predictions from a game theoretical model which evaluates the net effect of government ownership on firm performance and empirically tests these predictions by using a panel data of Vietnamese firms in the period 2004-2011. The estimates from the static and dynamic models give some evidence supporting our predictions that the profitability measured by return on total assets and return on equity is negatively affected by state ownership. Besides, the results show some evidence of an inverted U-shape effect of state ownership on firm performance. Furthermore, the study also find an interaction effect of firm size in the relationship between state shareholding and the performance of firms that a higher state ownership in larger firms is associated with a better firm performance.

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