The Relationship between Productivity and Firm’s Performance

• 발행기관: 한국유통과학회
• 저자명: Phong Anh NGUYEN Anh Hoang NGUYEN Thanh Phu NGO Phuong Vu NGUYEN
• 간행물 정보: 『The Journal of Asian Finance, Economics and Business(JAFEB)』Vol. 6 No.3, 131~140쪽, 전체 10쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 2019.07.31

영문 초록

The study aims to examine the impact of productivity in addition to the policy of increasing the foreign investors’ ownership rate on the performance of businesses which were listed on Vietnam s stock exchange market from 2010 to 2017. With the database of 3.961 observations, the study employs a statistical method – multiple regression to estimate the relationship between labor productivity, foreign ownership as well as other firm-level characteristics and firm performance. Research findings show that increasing labor productivity and increasing foreign ownership rates help increase firm performance. In addition, except for financial leverage, variables such as liquidity and firm size have positive effects on firm performance measured by Tobin’s Q. These findings have theoretical contributions and practical implications for managers, investors and government in Vietnam. Managers should pay attention to improving labor productivity through employing incentive mechanisms, building a good working environment, investing in technology, etc. in order to enhance the firm performance. Investors could utilize the labor productivity and foreign ownership indicators to select stocks of good companies for investment. For Vietnamese government, relaxing the limit of foreign ownership and accelerating the divesting of State capital in Stateowned enterprises could help increase the investment scale of foreign investors and resulting in positive effects on the firm performance.

목차

1. Introduction

2. Literature Review and Hypothesis Development

3. Research Methodology

4. Findings and Discussion

5. Conclusion

Reference

키워드

Labour Productivity Firm Performance Tobin’ s Q Foreign Ownership Vietnam Stock Exchange