Earnings management practices can exacerbate information asymmetry between stakeholders such as creditors, suppliers and investors and the focal firm. However, different types of earnings management can lead to diverse consequences due to their different associations with information asymmetry and agency cost. In this study, we investigate the relationship between accrual-based earnings management (AEM), real activities management (RAM) and corporate cash holdings. The research findings suggest that real activities management has a positive impact on cash holdings, while accruals-based earnings management, has a negative impact on this measure. Our findings are robust to different measures of AEM, RAM and model specifications. The positive link between RAM and cash holdings implies that significant diminutions in discretionary production costs and selling expenses permit managers to mask the genuine performance of the firm, thus increasing information asymmetry. On the other hand, the inverse relationship between AEM and cash holdings may prove that accruals can be helpful in alleviating the information differentials between the firm and other stakeholders. Based on the research findings, we provide several implications for relevant stakeholders regarding the link between earnings management and cash holdings.

Recent tax evasion research has considered tax avoidance as an act of minimizing the amount of taxes to be paid through appropriate methods. This research aims to investigate the impact of corporate tax avoidance on the corporate cash holdings of the firms listed at Vietnam's stock market. The sample consists of 125 non-financial firms' data as of 2010-2016, with the total of 875 observations. The investigation utilizes three different tax avoidance measures to examine the robustness of the research results. We used GMM estimator to test our hypotheses. This research ascertains empirical evidence that tax avoidance has a significant positive relationship with cash holdings of listed firms in Vietnam. Three measurements of tax avoidance presented the same conclusions to the regression results.

The study explores the link between product market competition (PMC) and firm value (FV) and examines the moderating role of the state ownership (SOE) variable in this relationship by using data from 555 listed firms on Vietnam's stock market from 2011 to 2019 on the Ho Chi Minh Stock Exchange (HOSE) and Ha Noi Stock Exchange (HNX). The System Generalized Method of Moments (SysGMM) is used to consider the relationship between variables. The findings from SysGMM indicate that product market competition has an effect on firm value. Firms with a high proportion of state ownership have a stronger correlation between product market competition and firm value than firms with a low proportion of state ownership. Additionally, we use fuzzy-set qualitative comparative analysis (fsQCA) to consider the causal relationship of variables in the model. The fsQCA results show that FV increased when the combination of lower product market competition, higher state ownership, higher firm, and lower debt ratio, which is a common trend to help clarify the evidence in emerging markets. The research is significant for investors, listed companies, and particularly organizations with state ownership, since it enables them to develop specific strategies for enhancing corporate value as the competitive market grows more challenging. Simultaneously, the study concentrated on examining the causal relationships between the variables while utilizing the FSQCA approach in order to contribute to the literature review in the emerging market.

The increase of inter-boundary transactions brings a number of benefits for enterprises. However, even when benefits of transfer pricing are evident, multinational organizations still face legal challenges, including performing parts of transactions in another jurisdiction and motives of tax officials in investigating transfer pricing. This is especially true when countries do not want to lose benefits from tax collection. Therefore, many countries and organizations such as the Organization for Economic Cooperation and Development (OECD), Pacific Association of Tax Administrators (PATA), the European Union (EU), and Vietnam have introduced requirements for transfer pricing documentation to prevent transfer pricing manipulation and maintain benefits from taxes. The aim of this research was to assess the compliance of those requirements of foreign direct investment (FDI) enterprises in Vietnam. This article which is a summary of our research includes the following sections: (1) OECD guidelines of transfer pricing documentation; (2) Vietnam regulations of transfer pricing documentation; (3) results of the research; and (4) discussion and conclusion.

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