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Privatization of Vietnamese Firms and Its Effects on Firm Performance

Author

Listed:
  • Ngo My Tran
  • Walter Nonneman
  • Ann Jorissen

Abstract

The paper analyzes the effects of privatization on the performance of firms switching their ownership from state-owned to private-owned ownership. By using difference-in-difference with control variables and propensity score matching techniques, this study overcomes some shortcomings in previous studies on the effect of privatization on performance in transition economies such as no control of selection bias and the inadequateness to single out the privatization effect from the concurrent effects of other economic factors. We find that a shift from state or collective ownership to private ownership can consistently enhance the performance of switchers in terms of profitability. This suggests that privatization is an efficient way to improve the financial performance of Vietnamese state-owned enterprises.

Suggested Citation

  • Ngo My Tran & Walter Nonneman & Ann Jorissen, 2015. "Privatization of Vietnamese Firms and Its Effects on Firm Performance," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 5(2), pages 202-217.
    • Handle: RePEc:asi:aeafrj:v:5:y:2015:i:2:p:202-217:id:1332
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    Citations

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    Cited by:

    1. Nguyen Van Tan & Trinh Quoc Trung, 2019. "Has Equitization Actually Led to Improve Firm Performance in a Transition Economy?," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 9(3), pages 402-418, March.
    2. Mai, Nhat Chi, 2019. "Comparative Analysis of Trade Competitiveness between Bangladesh and Vietnam: Lessons for Bangladesh," OSF Preprints b7fkj, Center for Open Science.
    3. Nguyen Van Tan & Trinh Quoc Trung, 2019. "Listing and Firm Performance in a Transition Economy," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 9(3), pages 353-365, March.
    4. Mai, Nhat Chi, 2020. "Impact of Residual State Ownership on Privatised Firm Performance: Evidence from Vietnamese Listed Firms," OSF Preprints j78fy, Center for Open Science.
    5. , Aisdl, 2017. "Privatization of Vietnam Airlines: a successful reform or a timid policy step," OSF Preprints wknfq, Center for Open Science.
    6. Quang Minh Nguyen, 2023. "Impact of privatization on firm performance in Vietnam: A Staggered Difference-in-Differences analysis with heterogeneous treatment effects," Documentos de Trabajo EH-Valencia (DT-EHV) 2303, Economic History group at the Universitat de Valencia.
    7. Manh Hoang Nguyen & Thi Quy Vo, 2022. "Residual State Ownership and Firm Performance: A Case of Vietnam," JRFM, MDPI, vol. 15(6), pages 1-28, June.
    8. Mai, Nhat Chi, 2022. "Privatization of Vietnam Airlines: A successful Reform or A Timid Policy Step," OSF Preprints duwym, Center for Open Science.

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