期刊名称：Organizations and Markets in Emerging Economies
印刷版ISSN：2029-4581
出版年度：2016
卷号：7
期号：2
页码：112-140
DOI：10.15388/omee.2016.7.2.14210
出版社：Vilnius University
摘要：A cross-country comparative analysis of corporate governance structures and financial performance
of publicly listed companies in Singapore and Vietnam, covering a four-year period from
2008 to 2011, is undertaken in this study. More specifically, the similarities and differences in the corporate
governance structures and financial performance of the companies are compared and interpreted
in the institutional context of each market. On an average basis, we find that the size, composition
and diversity of the boards in these two markets are statistically significantly different. In contrast, there
is no statistical evidence to reject the similarities in ownership structure, board leadership structure,
and financial performance between the firms of the two markets. In addition, our comparative analysis
on the corporate governance structures–financial performance nexus also reveals that the performance
effects of corporate governance structures vary significantly between the two markets, thus supporting
the view that the performance effects of corporate governance structures are country-specific. Our findings
suggest that country-level characteristics should be captured when modelling the corporate governance–firm
performance relationship in cross-country comparative corporate governance research.
