期刊名称：International Research Journal of Finance and Economics
印刷版ISSN：1450-2887
电子版ISSN：1450-2887
出版年度：2018
期号：169
页码：33
出版社：European Journals Inc.
摘要：This study examines roles of privatization theories explaining firm performance after privatization in certain countries and in Vietnam, whereby the author suggests the possibility of applying these theories to explain the impact of equitization in Vietnam. In addition, this study also provides an overview of equitization process in Vietnam in terms of stages theory approach. Empirical studies show that privatization does not always help businesses to operate more efficiently after privatization, especially in Vietnam. Through the application of qualitative research methodology to revise previous theories and empirical studies, the author concludes that empirical studies have different results on the effect of privatization on firm performance after privatization due to the lack of suitable theory to explain the cyclical effect of privatization on firm performance after privatization. Privatization stage is also a determinant of firm performance after privatization. The author proposes to develop a new theory to explain the stage nature of privatization program and new methods for measuring the impact of equitization on firm performance in Vietnam as well as in other countries.
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