An Empirical Study of SOE Corporate Governance Attributes for Emerging Markets
Hoang, Giang, Oh, Kok Boon
- 出版商: Springer
- 出版日期: 2024-05-01
- 售價: $5,950
- 貴賓價: 9.5 折 $5,653
- 語言: 英文
- 頁數: 243
- 裝訂: Quality Paper - also called trade paper
- ISBN: 9819915074
- ISBN-13: 9789819915071
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商品描述
This book investigates the institutional characteristics of state-linked firms in Vietnam to draw lessons for investors/MNCs targeting Vietnam and other emerging markets in the region. Vietnam and many other ASEAN countries have gone through a period of privatization and equitization of wholly controlled SOEs, with the State retaining partial ownership in many privatized businesses. This book explains the dynamic relationships between the State, BODs, shareholders, and regulators and their influence on corporate governance and SOE performance. This book differs from other publications in that it extrapolates the findings from our study to a broader context on how the defined internal mechanisms implicate the local economy and global supply chains/markets.
This book investigates robust theoretical foundations, and rigorous applied empirical research underpin the role of the State in SOEs. It differs from other studies in terms of qualitative and empirical research to providethe contextual setting to elucidate how to successfully navigate emerging market business with the State as an "owner-participant." This book explains the theoretical constructs of corporate governance in SOEs, applies empirical research methodologies, and draws results to validate inferences to (1) investigate the link between the board of directors and ownership attributes and agency cost levels using Vietnamese listed firms for the period from 2006 to 2013, (2) evaluate the effectiveness of State's corporate initiatives and monitoring through its sovereign wealth fund known as the State Capital Investment Corporation (SCIC), and (3) infer and explain the motivation of the State as a shareholder.
This book takes cognizance of Vietnam's idiosyncratic institutional (using its sovereign wealth fund as an investment vehicle and management proxy), economic, regulatory, and corporate environments and the realities for developing an effective and sustainable business model, vis-à-vis the ownership structure, board of directors' composition and corporate governance, for better business performance. While the focus is on Vietnam, the content is also relevant to the role of the State in other emerging markets as a player in shaping the business strategy, model, and direction of SOEs.
商品描述(中文翻譯)
本書研究了越南國有企業的制度特點，以便為投資者/跨國公司在越南及其他新興市場提供經驗教訓。越南和許多東盟國家經歷了國有企業私有化和股權化的過程，國家在許多私有化企業中保留部分所有權。本書解釋了國家、董事會、股東和監管機構之間的動態關係，以及它們對企業治理和國有企業績效的影響。本書與其他出版物的不同之處在於，它從我們的研究中推斷出的結果，對於內部機制如何影響當地經濟和全球供應鏈/市場提供了更廣泛的背景。
本書研究了國有企業中國家角色的堅實理論基礎和嚴謹的應用實證研究。它在質性和實證研究方面與其他研究不同，提供了情境設定，以闡明如何成功地在國家作為“所有者參與者”的情況下進行新興市場業務。本書解釋了國有企業治理的理論構建，應用實證研究方法，並得出結果以驗證以下推論：（1）使用越南上市公司在2006年至2013年期間，調查董事會和所有權特徵之間的聯繫以及代理成本水平，（2）評估國家通過其主權財富基金（國家資本投資公司）的企業舉措和監控的有效性，以及（3）推斷和解釋國家作為股東的動機。
本書充分考慮了越南特有的制度（使用其主權財富基金作為投資工具和管理代理人）、經濟、監管和企業環境，以及發展有效和可持續的業務模式的現實情況，相對於所有權結構、董事會組成和企業治理，以獲得更好的業績。雖然重點是越南，但內容也與國家在其他新興市場中作為塑造國有企業業務戰略、模式和方向的參與者的角色相關。
作者簡介
Dr Giang Hoang has worked extensively in Vietnam's investment banking industry and education sector. She has over 18 years of experience in financial education, research, and advisory services in various areas of finance, such as derivatives, investment and portfolio management, international finance, and corporate governance.
Dr. Hoang was also the Deputy Dean of the Faculty of Management and Tourism at Hanoi University and the Executive Director of the Joint Education Program between La Trobe University (Australia) and Hanoi University (Vietnam). She was influential in developing key partnerships for various universities in Vietnam and instrumental in obtaining research grants from international donors. As an academic, she has taught extensively in Australia, Vietnam, Singapore, and Italy. Other previous roles have also been as an Equity Analyst of a securities company and Finance Specialist of the World-Bank financed projects.
Through research, teaching, and experience running her investment fund, Dr. Hoang has built expertise in corporate governance, which opened doors for her to become a consultant in the field of corporate governance for many listed entities. She is a member of the Australian Investment Association and Vietnamese Investment Institute and an angel investor of several digital asset projects in the United States focusing on decentralisation of governance and web3.
Dr Kok-Boon Oh has industry experience working with the US and Asian MNCs in senior management positions overseeing their global business operations. Dr. Oh has worked in roles in these organisations as directors, CEOs and as a C-suite officers in corporate finance, international business, and risk management for over 40 years.
Dr. Oh was the Acting/Deputy Head of the Graduate School of Management at La Trobe University in Melbourne, Australia. He was also the MBA Program Director responsible for the programs offered in both Australia and internationally. He conducted research and taught accounting, finance, enterprise risk management, cybersecurity, technology and innovation management and international business at La Trobe University. As a senior academic, he travelled extensively to oversee and deliver business and management programs in China, Mongolia, and Vietnam for over 20 years. He was also responsible for supervising PhD candidates and, developing and delivering executive education programs to Australian and international audiences.
As a senior member of MNCs and academic institutions, Dr. Oh has been involved in governance, sitting on committees to formulate, implement and supervise corporate governance policies and practices. Dr. Oh is an Australia Certified Practising Accountant and Malaysian Chartered Accountant, and Director of eGalaxy Research. He is also a member of the Academic Board of Texila College in Melbourne.
作者簡介(中文翻譯)
Dr. Giang Hoang在越南的投資銀行業和教育部門有豐富的工作經驗。她在金融教育、研究和咨詢服務方面擁有超過18年的經驗，涉及金融的各個領域，如衍生品、投資和投資組合管理、國際金融和公司治理。
Dr. Hoang曾擔任河內大學管理和旅遊學院的副院長，以及澳大利亞拉筹伯大学和越南河內大学的聯合教育项目的执行主任。她在为越南各大学建立重要合作伙伴关系方面发挥了重要作用，并在获得国际捐助机构的研究资助方面起到了关键作用。作为一名学者，她曾在澳大利亚、越南、新加坡和意大利广泛教授课程。此外，她还曾担任证券公司的股票分析师和世界银行资助项目的财务专家。
通过研究、教学和管理自己的投资基金的经验，Dr. Hoang在公司治理方面积累了专业知识，这使她有机会成为许多上市公司的公司治理顾问。她是澳大利亚投资协会和越南投资研究所的成员，也是美国几个数字资产项目的天使投资者，专注于治理分权和Web3。
Dr. Kok-Boon Oh在美国和亚洲跨国公司担任高级管理职位，负责全球业务运营。Dr. Oh在这些组织中担任董事、首席执行官和高级管理层职务，负责企业金融、国际业务和风险管理等领域超过40年。
Dr. Oh曾担任澳大利亚墨尔本拉筹伯大学管理研究生院的代理/副院长。他还是MBA项目主任，负责澳大利亚和国际上开设的项目。他在拉筹伯大学从事会计、金融、企业风险管理、网络安全、技术和创新管理以及国际业务的研究和教学。作为一名高级学者，他长期在中国、蒙古和越南监督和开展商业和管理项目超过20年。他还负责指导博士候选人，并为澳大利亚和国际受众开发和提供高级管理教育项目。
作为跨国公司和学术机构的高级成员，Dr. Oh参与了治理工作，担任委员会成员，制定、实施和监督公司治理政策和实践。Dr. Oh是澳大利亚注册会计师和马来西亚特许会计师，也是eGalaxy Research的董事。他还是墨尔本Texila College的学术委员会成员。
