Foreign ownership and product market competition's influence on firm performance: Mediating role of the corporate governance index

IF 4.8 Q1 BUSINESS Business Strategy and Development Pub Date : 2024-04-15 DOI:10.1002/bsd2.366
Thu Thi Tran, Thach Xuan Ha, Nhan Kim Vo
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Abstract

This study examines the influence of foreign ownership and product market competition on firm performance in Vietnam's listed companies through the mediating role of the corporate governance index. Moreover, the study explores the moderating role of business strategy in the relationships between foreign ownership, product market competition, and firm performance. We use maximum likelihood structural equation modeling in Stata 14 software to analyze the data collected from 180 Vietnamese listed companies from 2015 to 2019. The results indicate that foreign ownership and product market competition positively influence firm performance by mediating the corporate governance index. Business strategy negatively moderates the relationship between product market competition and firm performance. This study has implications for managers focusing on foreign ownership and product market competition to improve corporate governance systems, enhancing firm performance. Additionally, managers may build business strategies when product market competition increases to avoid negative effects on firm performance.

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外资所有权和产品市场竞争对公司业绩的影响:公司治理指数的中介作用
本研究通过公司治理指数的中介作用,探讨了越南上市公司中外资所有权和产品市场竞争对公司业绩的影响。此外,本研究还探讨了经营战略在外资所有权、产品市场竞争和企业绩效之间关系中的调节作用。我们使用Stata 14软件中的最大似然结构方程模型分析了从2015年至2019年收集的180家越南上市公司的数据。结果表明,外资所有权和产品市场竞争通过调解公司治理指数对公司绩效产生积极影响。经营战略对产品市场竞争与企业绩效之间的关系起负调节作用。本研究对管理者关注外资所有权和产品市场竞争以改善公司治理体系、提高公司绩效具有启示意义。此外,管理者可在产品市场竞争加剧时制定经营战略,以避免对企业绩效产生负面影响。
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来源期刊
Business Strategy and Development
Business Strategy and Development Economics, Econometrics and Finance-Economics, Econometrics and Finance (all)
CiteScore
5.80
自引率
6.70%
发文量
33
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