Local business environment, domestic CEOs and firm performance in a transitional economy: Empirical evidence from Vietnam

Vo, Xuan Vinh; Nguyen, Thi Lam Anh; Tuan, Le Quoc; Luu, Hiep Ngoc; Vu, Kieu Trang

doi:10.1016/j.eap.2020.04.006

Cited by 9 publications

(6 citation statements)

References 38 publications

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“…Specifically, the appointment of FCEOs improves CG quality of EMMNCs by approximately 7.58%. This result is consistent with the recent findings of Chuah and Foong (2019) that FCEOs improve corporate outcomes but contrast the result of Vo, Nguyen, Tuan, Luu, & Vu (2020) that foreign CEOs under-perform in countries with good governance supporting institutions. Nonetheless, our finding indicates that non-native CEOs improve the CG quality of EMMNCs due to their experience and knowledge from different governance institutions.…”

Section: Main Results and Discussionsupporting

confidence: 92%

Chairperson and CEO foreignness and CG quality of emerging markets MNCs: Moderating role of international board interlocks

Areneke

Tunyi

2021

Int. J Fin Econ

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We examine whether foreign chief executive officers (FCEOs) and foreign independent board chairpersons (FIBCs) improve on the corporate governance (CG) practices of emerging market multinational corporations (EMMNCs) through governance spill over. We use hand-collected data for 80 listed Nigerian multinational corporations for the period 2011-2016 (480 firm-years) and apply a three-stage least squares regression to address endogeneity issues. Our findings show international exposure of EMMNCs motivate appointment of FIBCs and FCEOs who positively affect their CG quality. In addition, international board interlocks positively moderate the likelihood of FCEOs to export and enhance EMMNCs' CG quality, but negatively moderate FIBCs impact on CG practices of EMMNCs. Finally, we develop a framework to show how EMMNCs' CG practices are exemplary to local firms in the home country who may mimic these governance practices. We contend the repeated game of governance spill-over and mimetic isomorphism drives the evolution of CG institutions and, potentially, will generate institutional change in CG practices in emerging markets.

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Section: Main Results and Discussionsupporting

confidence: 92%

Chairperson and CEO foreignness and CG quality of emerging markets MNCs: Moderating role of international board interlocks

Areneke

Tunyi

2021

Int. J Fin Econ

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“…A good business environment can make it easier for enterprises to make profits. Some studies have shown that a good business environment can significantly promote the development of enterprises [28]. Facing pressure the from public and the government, enterprises must make green investment if they want to change the past high emission production mode.…”

Section: Discussionmentioning

confidence: 99%

“…On the one hand, a good business environment not only requires enterprises to abide by environmental protection rules, jointly maintaining and creating a better business environment, but also improves the return of the natural resources of enterprises and green investment efficiency by standardizing enterprise behavior [27]. On the other hand, research has shown that the business environment has significantly improved enterprise performance [28]. A good business environment not only makes it easier for enterprises to make profits [29], but also makes a contribution to social responsibility, making enterprises pay more attention to their own green reputation on the premise of making profits, and improve the status of enterprises in the hearts of consumers by paying attention to environmental protection [30].…”

Section: Hypothesis 1 (H1) Public Environmental Attention Has a Signi...mentioning

confidence: 99%

Does Public Environmental Attention Improve Green Investment Efficiency?—Based on the Perspective of Environmental Regulation and Environmental Responsibility

Pan

2022

Sustainability

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Will public attention to the environment affect the green behavior of enterprises? This paper collected the panel data of steel enterprises in China from 2009 to 2017, evaluated the green investment efficiency by the measurement of the slack model (SBM) and the “super efficiency” (DEA) model, and studied the impact of public environmental attention on green investment efficiency. Firstly, public environmental attention has significantly promoted enterprise green investment efficiency; Secondly, the business environment has significantly promoted enterprise green investment efficiency, and the influence of public environmental attention on enterprise green investment efficiency is positively regulated by the business environment; Thirdly, the influence mechanism of public environmental attention on the promotion of green investment efficiency comprises environmental regulation and environmental responsibility; Fourthly, public environmental attention has a heterogeneous effect on the promotion of enterprise green investment efficiency. The promotion of public environmental attention on green investment efficiency is more significant for large enterprises than medium-sized enterprises. The effect of the promotion of public environmental attention on green investment efficiency is more significant for state-owned enterprises than private enterprises. The promotion of public environmental attention on green investment efficiency is more significant in eastern China than in central and western China.

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“…The control variables of this paper consist of board characteristics and Stock Returns. Board characteristics include CEO Gender and CEO Age (Zaidi, Ali, and Sadraoui, 2021;Vo The impact on firm performance: evidence from CEO education Silvina, Robin, Wisnu Yuwono et al, 2020; Ying and He, 2020), Board Size and Board Independency (Brahma, 2020;Fidanoski, Simeonovski, and Mateska, 2014;Kagzi and Guha, 2018). CEO Gender is a dummy variable, set one if the CEO is male and zero if the CEO is female.…”

Section: Control Variablesmentioning

confidence: 99%

The impact on firm performance: evidence from CEO education

Silvina

Robin

Yuwono

2022

INOVASI: Jurnal Ekonomi, Keuangan dan Manajemen

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The purpose of this paper is to examine the impact of CEO Education on Firm Performance. The sample covers 180 observations from IDX LQ45 listed on Indonesia Stock Exchange for period 2017 until 2020. The CEO Education is defined by the field of study in economic, management, business, or accounting. Firm Performance is measured by Tobin's Q from market based perspective. Board characteristics and Stock Returns are used as control variables in this paper. The result shows that there's a relationship between CEO Education and Firm Performance. CEO with economic, management, business, or accounting background have a positive and significant impacts on Firm Performance. The result becomes stronger with additional test of CEO Education measured by the level and quality of education on Firm Performance, supporting that CEO Education does enchance the Firm Performance.

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Local business environment, domestic CEOs and firm performance in a transitional economy: Empirical evidence from Vietnam

Cited by 9 publications

References 38 publications

Chairperson and CEO foreignness and CG quality of emerging markets MNCs: Moderating role of international board interlocks

Chairperson and CEO foreignness and CG quality of emerging markets MNCs: Moderating role of international board interlocks

Does Public Environmental Attention Improve Green Investment Efficiency?—Based on the Perspective of Environmental Regulation and Environmental Responsibility

The impact on firm performance: evidence from CEO education

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