Hung Ngoc Dang

The study is conducted to investigate the impact of corporate governance and ownership on business performance in listed firms on the Vietnamese Stock Exchange. The study employed the general regression method (GLS) with a sample of 506 listed firms in the period 2008–2020. The study demonstrated the impacts of corporate governance and ownership on firm performance. First, the size of the Board of Directors (BOD), state ownership, and foreign ownership have a positive impact on firm performance. On the contrary, the ratio of independent members in the BOD and the percentage of members of the BOD who are major shareholders have a negative impact on firm performance. An interesting finding is that the BOD with female members, the duality of director and chairman, and the ratio of independent members have a negative impact on the Board of Management. In contrast, firms with no female members in the BOD have a positive relationship with firm performance. The empirical results and recommendations in this study might be good instructions for firms to improve their firm performance.