The relationship between female members of the board of directors and firm performance: evidence from vietnamese firms

Abstract

The study provides empirical evidence on the relationship between corporate governance and performance of listed non-financial enterprises in Vietnam during the period 2016 - 2020. With the goal of examining how the relationship between variables representing corporate governance affects company performance measured by ROA. Independent variables representing corporate governance include board size (Bs), proportion of female members on the board (Wmn), proportion of executive board members (Exe), proportion of independent board members (Ind), CEO duality (Cdual), enterprise scale (Size), financial leverage (Lev). Data of variables is compiled from audited consolidated financial statements, management reports and annual reports of companies. “The results found empirical evidence on the relationship between corporate governance and performance. First, the results show that there is a positive relationship between corporate governance and operational efficiency through two variables Bsize and Exe, while variables such as Wmn and Cdual do not affect operational efficiency. Meanwhile, Ind has a negative impact on business performance