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The Effect of Board of Directors, Chairman, and Ownership Attributes on the Agency Cost: Empirical Evidence

In: An Empirical Study of SOE Corporate Governance Attributes for Emerging Markets

Author

Listed:
  • Giang Hoang

    (Monash University)

  • Kok Boon Oh

    (eGalaxy Solutions)

Abstract

This chapter empirically investigates the relationship between agency cost levels and the board of directors, chairman, and ownership structure attributes for 617 non-financial firms listed on the Ho Chi Minh Stock Exchange (HOSE) and Hanoi Stock Exchange (HNX) of Vietnam for the period from 2006 to 2013. While there is extensive literature examining the role and contribution of the board of directors and ownership in other markets such as the US, the UK, China, etc., there has been limited analysis in Vietnam, where the ownership structure is characterised not only by the dominance of the government but also by a mixture of various shareholder types. The primary contribution of this chapter is to examine a model of the expected relationship between firm-level agency costs and several distinguishable boards, chairman, and ownership structure characteristics of the Vietnamese firms to empirically test whether these variables are statistically associated with the agency cost levels of firms.

Suggested Citation

  • Giang Hoang & Kok Boon Oh, 2023. "The Effect of Board of Directors, Chairman, and Ownership Attributes on the Agency Cost: Empirical Evidence," Springer Books, in: An Empirical Study of SOE Corporate Governance Attributes for Emerging Markets, chapter 0, pages 93-166, Springer.
  • Handle: RePEc:spr:sprchp:978-981-99-1505-7_5
    DOI: 10.1007/978-981-99-1505-7_5
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