The moderating effects of state ownership and duality on the relationship between internationalisation and firm performance

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Anh Que Tran
Dut Van Vo

Abstract

This study aims to estimate the moderating effects of state ownership and CEO duality on the relationship between internationalisation and the performance of listed firms in the Hanoi stock exchange (HNX). A detailed panel data set of listed firms for the period from 2009 to 2018 are employed. OLS results reveal that the performance of high internationalising firms with high state ownership is higher than that of those with low or non-state ownership. In contrast, the performance of high internationalising firms governed by CEO duality is lower than that of those without duality. The findings integrate the arguments of the resource-based view and the Uppsala model applied in the transition economy that emphasised internationalising listed firms to acquire certain benefits from the state, and the separation of the highest two positions in such firms facilitates the exact anticipation of uncertainties and risks in making business decisions.

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How to Cite
Anh Que Tran, & Dut Van Vo. (2022). The moderating effects of state ownership and duality on the relationship between internationalisation and firm performance. Asian Academy of Management Journal. Retrieved from https://ejournal.usm.my/aamj/article/view/597
Section
Early Views - June 2023

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