Foreign Ownership and Corporate Financial Performance in Vietnam: New Insights from the Generalised Method of Moments
摘要
This study seeks to explore the influence of foreign ownership on the financial performance of corporations. Using panel data of 73 firms from 2009 to 2018 and the Generalised Method of Moments (GMM), our results show that foreign ownership positively correlates with return on assets. Moreover, we document that financial leverage hinders firm performance. Based on the empirical findings, this study suggested various practical implications for corporate managers and policymakers, such as considering the potential benefits of liberalizing foreign investment policies to promote economic growth and development.