Sở hữu nhà nước và hành vi chấp nhận rủi ro: Trường hợp các công ty niêm yết Việt Nam
DOI:
https://doi.org/10.24311/jabes/2017.28.2.1031Keywords:
State ownership, Risk taking, Listed firms, VietnamAbstract
By using system GMM estimation method and a panel of Vietnam’s listed firms over the period from 2007 to 2015, this study finds a positive relationship between state ownership and corporate risk taking among these firms. The empirical evidence reveals that state ownership encourages corporate risk taking for increasing returns. The risk-taking behavior exhibited by representatives of state-owned firms may imply that they desire to gain finer reputation, but do not face risk from such behavior. The results re-confirm the important role of corporate governance mechanism in the context of Vietnam.
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