This research aims to investigate the relationship between the presence of females in the board of directors (BOD) and agency cost as well as firm performance with the mediating role of agency costs. We employ STATA to test feasible general least squares and generalized method of moments (GMM) on Vietnamese listed firms' data over 2015-2019. The results demonstrate that the presence of female directors is positively related to firm performance. The percentage of females has a positive relationship with agency cost, which has a negative impact on firm performance. The mediating role of the agency cost variable only reduces the positive impact of gender diversity in the BOD on firm performance, but this relationship is not reversed. The main contribution is the examination of the moderating role of state ownership and the mediating role of agency costs. Our study provides evidence about women's roles in different legal contexts, which might foster the formation of future legal frameworks.
Purpose This study aims to investigate the association between corporate governance (CG) and the corporate social responsibility (CSR) information disclosure as well as the moderating role of state-ownership between CG and CSR disclosure. Design/methodology/approach To examine the relationship between CG and CSR disclosure, this study used the feasible general least squares and generalized method of moments method on a sample of 165 non-financial quoted companies over the 2015–2018 period, which account for about three-fourths of the Vietnamese stock exchange. Findings The findings suggest that enterprises with smaller board size consisting mainly of independent directors have a higher CSR disclosure level. Moreover, when the chief executive officer is concurrently the chairman of the board, the level of CSR disclosure falls. Additionally, the moderating role of state ownership enhances CSR disclosure. Research limitations/implications The empirical results of this study form a solid foundation for policymakers and other stakeholders’ decisions in investing or establishing policies. Originality/value This study provides empirical evidence on the relationship between CG and CSR disclosure in Vietnam – a developing country with no legal requirement on CSR disclosure. Moreover, this study emphasizes the moderating role of state ownership between CG and CSR disclosure, which clarifies the role of state ownership in establishing CG mechanisms.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.
hi@scite.ai
10624 S. Eastern Ave., Ste. A-614
Henderson, NV 89052, USA
Copyright © 2024 scite LLC. All rights reserved.
Made with 💙 for researchers
Part of the Research Solutions Family.