An Empirical Study of SOE Corporate Governance Attributes for Emerging Markets

This book investigates the institutional characteristics of state-linked firms in Vietnam to provide lessons for investors/MNCs targeting Vietnam and other emerging markets in the region. It explores the dynamic relationships between the state, boards of directors, shareholders, and regulators and their influence on corporate governance and SOE performance. The book draws on robust theoretical foundations and rigorous applied empirical research to understand the role of the state in SOEs and offers insights into how to navigate emerging market business with the state as an owner-participant.

Format: Hardback
Length: 243 pages
Publication date: 30 April 2023
Publisher: Springer Verlag, Singapore

This comprehensive book delves into the intricate institutional characteristics of state-linked firms in Vietnam, offering valuable insights for investors and multinational corporations (MNCs) seeking opportunities in the region. Vietnam, along with many other ASEAN countries, has undergone a significant process of privatization and equitization of wholly controlled state-owned enterprises (SOEs), with the state retaining partial ownership in many privatized businesses. This book sheds light on the dynamic interplay between the state, board of directors (BODs), shareholders, and regulators, exploring their profound influence on corporate governance and the performance of SOEs.

What sets this book apart is its ability to extend its findings to a broader context, examining how the defined internal mechanisms of state-linked firms impact the local economy and global supply chains/markets. By drawing on robust theoretical foundations and rigorous applied empirical research, the book provides a comprehensive understanding of the role of the state in SOEs. It differs from other studies in its qualitative and empirical approach, offering a contextual framework to navigate emerging market business with the state as an owner-participant.

The book begins by exploring the theoretical constructs of corporate governance in SOEs, employing empirical research methodologies to validate inferences related to key topics. These include investigating the link between BOD characteristics and ownership attributes, agency cost levels, and firm performance. Additionally, the book evaluates the effectiveness of state corporate initiatives and monitoring through its sovereign wealth fund, the State Capital Investment Corporation (SCIC). By analyzing the performance of SCIC-invested firms, the book sheds light on the motivation of the state as a shareholder.

Throughout the book, case studies and examples from Vietnam and other emerging markets in the region are used to illustrate the practical implications of the research findings. The authors draw on their extensive experience and expertise in the field to provide actionable insights for investors and MNCs seeking to expand their operations in these markets.

In conclusion, this book is a valuable resource for anyone interested in understanding the institutional dynamics of state-linked firms in Vietnam and other emerging markets. It offers insightful perspectives, practical advice, and a wealth of empirical evidence to support informed decision-making in these complex and rapidly evolving markets.

Weight: 571g
Dimension: 235 x 155 (mm)
ISBN-13: 9789819915040
Edition number: 1st ed. 2023