English
18(4)2023
Tác động của cạnh tranh ngành đến hiệu quả hoạt động tại các doanh nghiệp niêm yết trên thị trường chứng khoán Việt Nam
Tác giả liên hệ, Email:Ngày nộp: 28-02-2022
Ngày duyệt đăng: 18-04-2022 Ngày xuất bản: 22-02-2023
Tóm tắt
Chỉ số JEL
Từ khóa
Trích dẫn:
Huynh, L. & Phung, T. A. (2023). Tác động của cạnh tranh ngành đến hiệu quả hoạt động tại các doanh nghiệp niêm yết trên thị trường chứng khoán Việt Nam [The impact of market competition on firm performance in listed firms on Vietnamese stock market]. Tạp chí Khoa học Đại học Mở Thành phố Hồ Chí Minh – Kinh tế và Quản trị Kinh doanh, 18(4), 118-130. doi:10.46223/HCMCOUJS.econ.vi.18.4.2196.2023
Tài liệu tham khảo
Acemoglu, D., Johnson, S., Robinson, J. A., & Yared, P. (2005). From education to democracy? American Economic Review, 95(2), 44-49.
Akerlof, G. A. (1978). The market for “lemons”: Quality uncertainty and the market mechanism. In Uncertainty in economics (pp. 235-251). Cambridge, MA: Academic Press.
Ali, A., Klasa, S., & Yeung, E. (2014). Industry concentration and corporate disclosure policy. Journal of Accounting and Economics, 58(2/3), 240-264.
Ammann, M., Oesch, D., & Schmid, M. M. (2013). Product market competition, corporate governance, and firm value: Evidence from the EU area. European Financial Management, 19(3), 452-469.
Arellano, M. (1989). A note on the Anderson-Hsiao estimator for panel data. Economics Letters, 31(4), 337-341.
Arellano, M., & Bond, S. (1991). Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations. The Review of Economic Studies, 58(2), 277-297.
Babar, M., & Habib, A. (2021). Product market competition in accounting, finance, and corporate governance: A review of the literature. International Review of Financial Analysis, 73(2021), Article 101607.
Baggs, J., & De Bettignies, J. E. (2007). Product market competition and agency costs. The Journal of Industrial Economics, 55(2), 289-323.
Blundell, R., Bond, S., Devereux, M., & Schiantarelli, F. (1992). Investment and Tobin’s Q: Evidence from company panel data. Journal of Econometrics, 51(1/2), 233-257.
Byun, H. S., Lee, J. H., & Park, K. S. (2012). How does product market competition interact with internal corporate governance?: Evidence from the Korean economy. Asia‐Pacific Journal of Financial Studies, 41(4), 377-423.
Chen, G., Firth, M., & Xu, L. (2009). Does the type of ownership control matter? Evidence from China’s listed companies. Journal of Banking & Finance, 33(1), 171-181.
Chen, X., Hu, N., Wang, X., & Tang, X. (2014). Tax avoidance and firm value: Evidence from China. Nankai Business Review International, 5(1), 25-42.
Choua, J., Ng, L., Sibilkov, V., & Wang, Q. (2011). Product market competition and corporate governance. Review of Development Finance, 1(2), 114-130.
Darrough, M. N., & Stoughton, N. M. (1990). Financial disclosure policy in an entry game. Journal of Accounting and Economics, 12(1/3), 219-243.
Desai, M. A., & Dharmapala, D. (2009). Corporate tax avoidance and firm value. The Review of Economics and Statistics, 91(3), 537-546.
Dhaliwal, D., Huang, S., Khurana, I. K., & Pereira, R. (2014). Product market competition and conditional conservatism. Review of Accounting Studies, 19(4), 1309-1345.
Eisenberg, T., Sundgren, S., & Wells, M. T. (1998). Larger board size and decreasing firm value in small firms. Journal of Financial Economics, 48(1), 35-54.
Ellis, J. A., Fee, C. E., & Thomas, S. E. (2012). Proprietary costs and the disclosure of information about customers. Journal of Accounting Research, 50(3), 685-727.
Fama, E. F., & Jensen, M. C. (1983). Separation of ownership and control. The Journal of Law and Economics, 26(2), 301-325.
Fosu, S. (2013). Capital structure, product market competition and firm performance: Evidence from South Africa. The Quarterly Review of Economics and Finance, 53(2), 140-151.
Gaaya, S., Lakhal, N., & Lakhal, F. (2017). Does family ownership reduce corporate tax avoidance? The moderating effect of audit quality. Managerial Auditing Journal, 32(7), 731-744.
Gaspar, J., & Massa, M. (2006). Idiosyncratic volatility and product market competition. The Journal of Business, 79(6), 3125-3152.
Gilbert, R. J., & Newbery, D. M. (1982). Preemptive patenting and the persistence of monopoly. The American Economic Review, 72(3), 514-526.
Giroud, X., & Mueller, H. M. (2010). Does corporate governance matter in competitive industries? Journal of Financial Economics, 95(3), 312-331.
Gompers, P., Ishii, J., & Metrick, A. (2003). Corporate governance and equity prices. The Quarterly Journal of Economics, 118(1), 107-156.
Greenwald, B., Stiglitz, J. E., & Weiss, A. (1984). Informational imperfections in the capital market and macroeconomic fluctuations. The American Economic Review, 74(2), 194-199.
Hansen, L. P. (1982). Large sample properties of generalized method of moments estimators. Econometrica: Journal of the Econometric Society, 50(4), 1029-1054.
Hart, O. D. (1983). The market mechanism as an incentive scheme. The Bell Journal of Economics, 14(2), 366-382.
Haw, I.-M., Hu, B., & Lee, J. J. (2015). Product market competition and analyst forecasting activity: International evidence. Journal of Banking & Finance, 56(2015), 48-60.
Healy, P., Serafeim, G., Srinivasan, S., & Yu, G. (2014). Market competition, earnings management, and persistence in accounting profitability around the world. Review of Accounting Studies, 19(4), 1281-1308.
Holmstrom, B. (1982). Moral hazard in teams. The Bell Journal of Economics, 13(2), 324-340.
Huang, Y., Jennings, R., & Yu, Y. (2017). Product market competition and managerial disclosure of earnings forecasts: Evidence from import tariff rate reductions. The Accounting Review, 92(3), 185-207.
Imhof, M. J., Seavey, S. E., & Watanabe, O. V. (2018). Competition, proprietary costs of financial reporting, and financial statement comparability. Journal of Accounting, Auditing & Finance, 37(1), 114-142.
Jagannathan, R., & Srinivasan, S. B. (1999). Does product market competition reduce agency costs? The North American Journal of Economics and Finance, 10(2), 387-399.
Jaroenjitrkam, A., Yu, C. F., & Zurbruegg, R. (2020). Does market power discipline CEO power? An agency perspective. European Financial Management, 26(3), 724-752.
Javeed, S. A., Latief, R., & Lefen, L. (2020). An analysis of relationship between environmental regulations and firm performance with moderating effects of product market competition: Empirical evidence from Pakistan. Journal of Cleaner Production, 254(2020), Article 120197.
Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics, 3(4), 305-360.
Laskar, N., & Maji, S. G. (2016). Disclosure of corporate social responsibility and firm performance: Evidence from India. Asia-Pacific Journal of Management Research and Innovation, 12(2), 145-154.
Li, X. (2010). The impacts of product market competition on the quantity and quality of voluntary disclosures. Review of Accounting Studies, 15, 663-711.
Liu, L., Qu, W., & Haman, J. (2018). Product market competition, state-ownership, corporate governance and firm performance. Asian Review of Accounting, 26(1), 62-83.
Low, D. C., Roberts, H., & Whiting, R. H. (2015). Board gender diversity and firm performance: Empirical evidence from Hong Kong, South Korea, Malaysia and Singapore. Pacific-Basin Finance Journal, 35, 381-401.
Majeed, M. A., Yan, C., & Tauni, M. Z. (2018). How does competition shape managerial decisions? Product market competition and financial statement comparability. Management Decision, 56(11), 2437-2471.
Marinova, J., Plantenga, J., & Remery, C. (2016). Gender diversity and firm performance: Evidence from Dutch and Danish boardrooms. The International Journal of Human Resource Management, 27(15), 1777-1790.
Markarian, G., & Santalo, J. (2014). Product market competition, information and earnings management. Journal of Business Finance & Accounting, 41(5/6), 572-599.
Mashayekhi, B., & Bazaz, M. S. (2008). Corporate governance and firm performance in Iran. Journal of Contemporary Accounting & Economics, 4(2), 156-172.
Moradi, M., Velashani, M. A. B., & Omidfar, M. (2017). Corporate governance, product market competition and firm performance: Evidence from Iran. Humanomics, 33(1), 38-55.
Myers, S. C., & Majluf, N. S. (1984). Corporate financing and investment decisions when firms have information that investors do not have. Journal of Financial Economics, 13(2), 187-221.
Namazi, M., & Ebrahimi, S. (2012). Investigating the impact of the components of intellectual capital on the firm’s financial performance: Evidence from Tehran Stock Exchange (TSE) Journal of Accounting Advances, 3(2), 163-197.
Nguyen, H. T. X., Pham, H. T., Dao, N. T., Nguyen, N. T., & Tran, N. T. K. (2020). The impact of foreign ownership and management on firm performance in Vietnam. The Journal of Asian Finance, Economics, and Business, 7(9), 409-418.
Nguyen, H., Tran, M. T. H., Nguyen, Y. T. H., & Truong, D. D. (2021). The influence of competitive advantage on financial performance: A case study of SMEs in Vietnam. The Journal of Asian Finance, Economics and Business, 8(5), 335-343.
Nickell, S. J. (1996). Competition and corporate performance. Journal of Political Economy, 104(4), 724-746.
Orlitzky, M., & Benjamin, J. D. (2001). Corporate social performance and firm risk: A meta-analytic review. Business & Society, 40(4), 369-396.
Orlitzky, M., Schmidt, F. L., & Rynes, S. L. (2003). Corporate social and financial performance: A meta-analysis. Organization Studies, 24(3), 403-441.
Pham, D. T. M. (2020). On the relationship between total quality management practices and firm performance in Vietnam: The mediating role of non-financial performance. Management Science Letters, 10(8), 1743-1754.
Pidani, R. R., & Mahmood, A. (2021). International competition enhance capacity utilisation: The evidence from Indonesia, Philippines and Vietnam. Insights into Economics and Management, 11(2021), 88-101.
Platonova, E., Asutay, M., Dixon, R., & Mohammad, S. (2018). The impact of corporate social responsibility disclosure on financial performance: Evidence from the GCC Islamic banking sector. Journal of Business Ethics, 151(2), 451-471.
Porter, M. E. (1980). Industry structure and competitive strategy: Keys to profitability. Financial Analysts Journal, 36(4), 30-41.
Porter, M. E. (1985). Technology and competitive advantage. Journal of Business Strategy, 5(3), 60-78.
Porter, M. E. (1989). How competitive forces shape strategy. In Readings in strategic management (pp. 133-143). Brighton, MA: Harvard Business Review.
Reich, M., Gordon, D. M., & Edwards, R. C. (1973). A theory of labor market segmentation. The American Economic Review, 63(2), 359-365.
Rodríguez, S. G., Guo, B., Illescas, G. M., & Nickel, M. N. (2020). Causal ambiguity: Shape-flip between product market competition at industry level and voluntary disclosure. Accounting and Business Research, 50(6), 574-607.
Roodman, D. (2009). How to do xtabond2: An introduction to difference and system GMM in Stata. The Stata Journal, 9(1), 86-136.
Ruan, W., Tian, G., & Ma, S. (2011). Managerial ownership, capital structure and firm value: Evidence from China’s civilian-run firms. Australasian Accounting, Business and Finance Journal, 5(3), 73-92.
Safdar, I. (2016). Industry competition and fundamental analysis. Journal of Accounting Literature, 37, 36-54.
Sargan, J. D. (1958). The estimation of economic relationships using instrumental variables. Econometrica: Journal of the Econometric Society, 26(3), 393-415.
Schmidt, K. M. (1997). Managerial incentives and product market competition. The Review of Economic Studies, 64(2), 191-213.
Shi, G., Sun, J., & Zhang, L. (2018). Product market competition and earnings management: A firm‐level analysis. Journal of Business Finance & Accounting, 45(5/6), 604-624.
Singla, M., & Singh, S. (2019). Board monitoring, product market competition and firm performance. International Journal of Organizational Analysis, 27(4), 1036-1052.
Verrecchia, R. E. (1983). Discretionary disclosure. Journal of Accounting and Economics, 5, 179-194.
Yu, M. (2013). State ownership and firm performance: Empirical evidence from Chinese listed companies. China Journal of Accounting Research, 6(2), 75-87.
Ziliak, J. P. (1997). Efficient estimation with panel data when instruments are predetermined: An empirical comparison of moment-condition estimators. Journal of Business & Economic Statistics, 15(4), 419-431.
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.