Corporate governance, gender diversity in boards, and firm value of listed companies in the Vietnamese stock market

Abstract

This research article aims to understand how corporate governance will impact the value of firms. Using the quantitative research method from data from 69 firms listed on the Vietnam Stock Exchange from 2010 to 2022, the data after being collected and processed will be subjected to regression according to the following models: Pooled OLS, FEM, REM models, and use System GMM regression method to overcome the model's endogeneity problem. The findings in the article show that board size has a negative impact on firm value (measured by Tobin's Q). In addition, the duality between the Chief Executive Officer (CEO) and the Chairman of the Board of Directors increases, making the value of the firm also increase, and the more gender diverse on the board of directors, the more valuable the firm will be decreased.