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How to cite this paper
APA: Pham, H & Kalyebara, B. (2020). Investments in subsidiaries, joint ventures, affiliates and firm growth: Evidence from Vietnam. Accounting, 6(5), 879-892.
Chicago/Turabian: Pham, H & Kalyebara, B. 2020. "Investments in subsidiaries, joint ventures, affiliates and firm growth: Evidence from Vietnam." Accounting 6, no. 5 (2020): 879-892.
AMA: Pham, H & Kalyebara, B. Investments in subsidiaries, joint ventures, affiliates and firm growth: Evidence from Vietnam. Accounting. 2020;6(5):879-892.
References
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Aktas, N., Croci, E., & Petmezas, D. (2015). Is working capital management value-enhancing? Evidence from firm performance and investments. Journal of Corporate Finance, 30, 98-113.
Alperovych, Y., Hübner, G., & Lobet, F. (2015). How does governmental versus private venture capital backing affect a firm's efficiency? Evidence from Belgium. Journal of Business Venturing, 30(4), 508-525.
Arellano, M., & Bond, S. (1991). Some Tests of Specification for Panel data: Monte Carlo Evidence and an Application to Employment Equations. The Review of Economic Studies, 58(2), 277-297.
Arellano, M., & Bover, O. (1995). Another look at the instrumental variable estimation of error-components models. Journal of Econometrics, 68(1), 29-51.
Audretsch, D. B., Klomp, L., Santarelli, E., & Thurik, A. R. (2004). Gibrat's Law: Are the Services Different? Review of Industrial Organization, 24(3), 301-324.
Blandina, O., & Adelino, F. (2005). The Dynamics of the Growth of Firms: Evidence from the Services Sector. In: GEMF - Faculdade de Economia, Universidade de Coimbra.
Blundell, R., & Bond, S. (1998). Initial conditions and moment restrictions in dynamic panel data models. Journal of Econometrics, 87(1), 115-143.
Calvo, J. L. (2006). Testing Gibrat's Law for Small, Young and Innovating Firms, 117.
Cameron, A. C., & Trivedi, P. K. (2010). Microeconometrics using Stata (Rev. ed.): College Station, Tex. : Stata Press.
Capasso, M., Treibich, T., & Verspagen, B. (2015). The medium-term effect of R&D on firm growth. Small Business Economics, 45(1), 39-62.
Chadha, S., & Sharma, A. K. (2015). Capital Structure and Firm Performance: Empirical Evidence from India. Vision, 19(4), 295-302.
Chen, T.-J., & Ku, Y.-H. (2000). The effect of foreign direct investment on firm growth: the case of Taiwan’s manufacturers. Japan and the World Economy, 12(2), 153-172.
Chih-Ping, Y. (2016). Size and growth of mobile phone firms in Mainland China, Hong Kong, and Taiwan. Chinese Economy, 49(4), 277-286.
Cleary, S. (1999). The relationship between firm investment and financial status. The Journal of Finance, 54(2), 673-692.
Coad, A. (2009). The growth of firms: A survey of theories and empirical evidence: Edward Elgar Publishing.
Coad, A., & Rao, R. (2010). Firm growth and R&D expenditure. Economics of Innovation and New Technology, 19(2), 127-145.
Coad, A., Segarra, A., & Teruel, M. (2016). Innovation and firm growth: Does firm age play a role? Research policy, 45(2), 387-400.
Copeland, T. E., Weston, J. F., & Shastri, K. (2005). Financial theory and corporate policy: Boston, MA : Addison-Wesley, 4th ed.
Cumming, D. J., Grilli, L., & Murtinu, S. (2017). Governmental and independent venture capital investments in Europe: A firm-level performance analysis. Journal of Corporate Finance, 42, 439-459.
Daily, C. M., & Thompson, S. S. (1994). Ownership structure, strategic posture, and firm growth: An empirical examination. Family Business Review, 7(3), 237-249.
Daunfeldt, S.-O., & Elert, N. (2013). When is Gibrat’s law a law? Small Business Economics, 41(1), 133-147.
Dimelis, S. P. (2005). Spillovers from foreign direct investment and firm growth: Technological, financial and market structure effects. International Journal of the Economics of Business, 12(1), 85-104.
Djankov, S., & Murrell, P. (2002). Enterprise restructuring in transition: A quantitative survey. Journal of economic literature, 40(3), 739-792.
Douma, S., George, R., & Kabir, R. (2006). Foreign and Domestic Ownership, Business Groups, and Firm Performance: Evidence from a Large Emerging Market. Strategic Management Journal, 27(7), 637-657. doi:10.1002/smj.535
Dushnitsky, G., & Lenox, M. J. (2006). When does corporate venture capital investment create firm value? Journal of Business Venturing, 21(6), 753-772.
Engel, D., & Keilbach, M. (2007). Firm-level implications of early stage venture capital investment—An empirical investigation. Journal of Empirical Finance, 14(2), 150-167.
Federico, J., & Capelleras, J.-L. (2015). The heterogeneous dynamics between growth and profits: the case of young firms. Small Business Economics, 44(2), 231-253. doi:10.1007/s11187-014-9598-9
Gainsborough, M. (2009). Privatisation as State Advance: Private Indirect Government in Vietnam. New Political Economy, 14(2), 257-274. doi:10.1080/13563460902826013
Gedajlovic, E., & Shapiro, D. M. (2002). Ownership Structure and Firm Profitability in Japan. The Academy of Management Journal, 45(3), 565-575.
Geroski, P. A., & Gugler, K. P. (2001). Corporate Growth Convergence in Europe. In: C.E.P.R. Discussion Papers.
Geroski, P. A., Lazarova, S., Urga, G., & Walters, C. F. (2003). Are Differences in Firm Size Transitory or Permanent?, 47.
Gibrat, R. (1931). Les inégalités économiques: Recueil Sirey.
Goddard, J., Molyneux, P., & Wilson, J. O. (2004). Dynamics of growth and profitability in banking. Journal of Money, Credit and Banking, 1069-1090.
GSO. (2016). The Movement and Reality of Socio-Economic Situation in Vietnam over the 5-year Period from 2011-2015 In.
Hidenobu, O., & Lai Thi Phuong, N. (2012). Capital Structure and Investment Behavior of Listed Companies in Vietnam: An Estimation of the Influence of Government Ownership. International Journal of Business and Information, 7(2), 137.
IFC. (2010). Corporate Governance Manual (2nd ed.). Hanoi.
Jang, S., & Park, K. (2011). Inter-relationship between firm growth and profitability. International Journal of Hospitality Management, 30, 1027-1035. doi:10.1016/j.ijhm.2011.03.009
Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: managerial behavior, agency costs and ownership structure. Journal of Financial Economics, 3(4), 305-360.
Kankaanpää, J., Oulasvirta, L., & Wacker, J. (2014). Steering and Monitoring Model of State-Owned Enterprises. International Journal of Public Administration, 37(7), 409-423. doi:10.1080/01900692.2013.858355
Kim, K.-H., & Rasheed, A. A. (2014). Board heterogeneity, corporate diversification and firm performance. Journal of Management Research, 14(2), 121.
Konings, J. (1997). Firm growth and ownership in transition countries. Economics Letters, 55(3), 413-418.
Lee, S. (2014). The relationship between growth and profit: evidence from firm-level panel data. Structural Change and Economic Dynamics, 28, 1-11.
Megginson, W. L., Nash, R. C., & Randenborgh, M. (2012). The financial and operating performance of newly privatized firms: An international empirical analysis. The Journal of Finance, 49(2), 403-452.
Nguyen, T. N. (2013). Determinants of Firm Growth in the Vietnamese Commercial-Service Sector. Journal of Economics and Development, 14(1), 57.
Nguyen, T. T., & Van Dijk, M. A. (2012). Corruption, growth, and governance: Private vs. state-owned firms in Vietnam. Journal of banking & finance, 36(11), 2935-2948.
Penrose, E. T. (1956). Foreign investment and the growth of the firm. The economic journal, 66(262), 220-235.
Pham, C. D., & Carlin, T. M. (2008). Financial performance of privatized state-owned enterprises (SOEs) in Vietnam. Journal of International Business Research, 7(3), 105.
Phung, D. N., & Mishra, A. V. (2016). Ownership Structure and Firm Performance: Evidence from Vietnamese Listed Firms. Australian Economic Papers, 55(1), 63-98. doi:http://onlinelibrary.wiley.com/journal/10.1111/%28ISSN%291467-8454/issues
Rasiah, D., Tong, D. Y. K., & Kim, P. K. (2014). Profitability and Firm Size-Growth Relationship in Construction Companies in Malaysia From 2003 to 2010. Review of Pacific Basin Financial Markets & Policies, 17(3), 1-19. doi:10.1142/S0219091514500143
Roberta, D., Ivan, P., & Emiliano, S. (2014). Size, Age and the Growth of Firms: New Evidence from Quantile Regressions. In: Fondazione Eni Enrico Mattei.
Roodman, D. (2009). How to do xtabond2: An introduction to difference and system GMM in Stata. Stata Journal, 9(1), 86-136.
Scott, W. R. (2015). Financial accounting theory: Don Mills, Ontario : Pearson Canada, [2015], 7th edition.
Sun, Q., & Feng, F. (2004). Do government-linked companies underperform? Journal of banking & finance, 28(10), 2461-2492.
Tang, A. (2015). Does Gibrat's law hold for Swedish energy firms? Empirical Economics, 49(2), 659-674. doi:10.1007/s00181-014-0883-x
Truong, D. L., Lanjouw, G., & Lensink, R. (2006). The impact of privatization on firm performance in a transition economy - The case of Vietnam. ECONOMICS OF TRANSITION, 14(2), 349-389.
Weill, P. (1992). The relationship between investment in information technology and firm performance: A study of the valve manufacturing sector. Information systems research, 3(4), 307-333.
Xiu-fang, L., Xiao-jiao, B., & Chao, A. (2013). The Growth Model of Life Insurance Companies: Based on the Empirical Test of the Gibrat Law. Insurance Studies, 3, 010.
Yang, W., & Meyer, K. E. (2018). How does ownership influence business growth? A competitive dynamics perspective. International Business Review.
Zhou, H., & de Wit, G. (2009). Determinants and dimensions of firm growth. SCALES EIM Research Reports (H200903).
Aktas, N., Croci, E., & Petmezas, D. (2015). Is working capital management value-enhancing? Evidence from firm performance and investments. Journal of Corporate Finance, 30, 98-113.
Alperovych, Y., Hübner, G., & Lobet, F. (2015). How does governmental versus private venture capital backing affect a firm's efficiency? Evidence from Belgium. Journal of Business Venturing, 30(4), 508-525.
Arellano, M., & Bond, S. (1991). Some Tests of Specification for Panel data: Monte Carlo Evidence and an Application to Employment Equations. The Review of Economic Studies, 58(2), 277-297.
Arellano, M., & Bover, O. (1995). Another look at the instrumental variable estimation of error-components models. Journal of Econometrics, 68(1), 29-51.
Audretsch, D. B., Klomp, L., Santarelli, E., & Thurik, A. R. (2004). Gibrat's Law: Are the Services Different? Review of Industrial Organization, 24(3), 301-324.
Blandina, O., & Adelino, F. (2005). The Dynamics of the Growth of Firms: Evidence from the Services Sector. In: GEMF - Faculdade de Economia, Universidade de Coimbra.
Blundell, R., & Bond, S. (1998). Initial conditions and moment restrictions in dynamic panel data models. Journal of Econometrics, 87(1), 115-143.
Calvo, J. L. (2006). Testing Gibrat's Law for Small, Young and Innovating Firms, 117.
Cameron, A. C., & Trivedi, P. K. (2010). Microeconometrics using Stata (Rev. ed.): College Station, Tex. : Stata Press.
Capasso, M., Treibich, T., & Verspagen, B. (2015). The medium-term effect of R&D on firm growth. Small Business Economics, 45(1), 39-62.
Chadha, S., & Sharma, A. K. (2015). Capital Structure and Firm Performance: Empirical Evidence from India. Vision, 19(4), 295-302.
Chen, T.-J., & Ku, Y.-H. (2000). The effect of foreign direct investment on firm growth: the case of Taiwan’s manufacturers. Japan and the World Economy, 12(2), 153-172.
Chih-Ping, Y. (2016). Size and growth of mobile phone firms in Mainland China, Hong Kong, and Taiwan. Chinese Economy, 49(4), 277-286.
Cleary, S. (1999). The relationship between firm investment and financial status. The Journal of Finance, 54(2), 673-692.
Coad, A. (2009). The growth of firms: A survey of theories and empirical evidence: Edward Elgar Publishing.
Coad, A., & Rao, R. (2010). Firm growth and R&D expenditure. Economics of Innovation and New Technology, 19(2), 127-145.
Coad, A., Segarra, A., & Teruel, M. (2016). Innovation and firm growth: Does firm age play a role? Research policy, 45(2), 387-400.
Copeland, T. E., Weston, J. F., & Shastri, K. (2005). Financial theory and corporate policy: Boston, MA : Addison-Wesley, 4th ed.
Cumming, D. J., Grilli, L., & Murtinu, S. (2017). Governmental and independent venture capital investments in Europe: A firm-level performance analysis. Journal of Corporate Finance, 42, 439-459.
Daily, C. M., & Thompson, S. S. (1994). Ownership structure, strategic posture, and firm growth: An empirical examination. Family Business Review, 7(3), 237-249.
Daunfeldt, S.-O., & Elert, N. (2013). When is Gibrat’s law a law? Small Business Economics, 41(1), 133-147.
Dimelis, S. P. (2005). Spillovers from foreign direct investment and firm growth: Technological, financial and market structure effects. International Journal of the Economics of Business, 12(1), 85-104.
Djankov, S., & Murrell, P. (2002). Enterprise restructuring in transition: A quantitative survey. Journal of economic literature, 40(3), 739-792.
Douma, S., George, R., & Kabir, R. (2006). Foreign and Domestic Ownership, Business Groups, and Firm Performance: Evidence from a Large Emerging Market. Strategic Management Journal, 27(7), 637-657. doi:10.1002/smj.535
Dushnitsky, G., & Lenox, M. J. (2006). When does corporate venture capital investment create firm value? Journal of Business Venturing, 21(6), 753-772.
Engel, D., & Keilbach, M. (2007). Firm-level implications of early stage venture capital investment—An empirical investigation. Journal of Empirical Finance, 14(2), 150-167.
Federico, J., & Capelleras, J.-L. (2015). The heterogeneous dynamics between growth and profits: the case of young firms. Small Business Economics, 44(2), 231-253. doi:10.1007/s11187-014-9598-9
Gainsborough, M. (2009). Privatisation as State Advance: Private Indirect Government in Vietnam. New Political Economy, 14(2), 257-274. doi:10.1080/13563460902826013
Gedajlovic, E., & Shapiro, D. M. (2002). Ownership Structure and Firm Profitability in Japan. The Academy of Management Journal, 45(3), 565-575.
Geroski, P. A., & Gugler, K. P. (2001). Corporate Growth Convergence in Europe. In: C.E.P.R. Discussion Papers.
Geroski, P. A., Lazarova, S., Urga, G., & Walters, C. F. (2003). Are Differences in Firm Size Transitory or Permanent?, 47.
Gibrat, R. (1931). Les inégalités économiques: Recueil Sirey.
Goddard, J., Molyneux, P., & Wilson, J. O. (2004). Dynamics of growth and profitability in banking. Journal of Money, Credit and Banking, 1069-1090.
GSO. (2016). The Movement and Reality of Socio-Economic Situation in Vietnam over the 5-year Period from 2011-2015 In.
Hidenobu, O., & Lai Thi Phuong, N. (2012). Capital Structure and Investment Behavior of Listed Companies in Vietnam: An Estimation of the Influence of Government Ownership. International Journal of Business and Information, 7(2), 137.
IFC. (2010). Corporate Governance Manual (2nd ed.). Hanoi.
Jang, S., & Park, K. (2011). Inter-relationship between firm growth and profitability. International Journal of Hospitality Management, 30, 1027-1035. doi:10.1016/j.ijhm.2011.03.009
Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: managerial behavior, agency costs and ownership structure. Journal of Financial Economics, 3(4), 305-360.
Kankaanpää, J., Oulasvirta, L., & Wacker, J. (2014). Steering and Monitoring Model of State-Owned Enterprises. International Journal of Public Administration, 37(7), 409-423. doi:10.1080/01900692.2013.858355
Kim, K.-H., & Rasheed, A. A. (2014). Board heterogeneity, corporate diversification and firm performance. Journal of Management Research, 14(2), 121.
Konings, J. (1997). Firm growth and ownership in transition countries. Economics Letters, 55(3), 413-418.
Lee, S. (2014). The relationship between growth and profit: evidence from firm-level panel data. Structural Change and Economic Dynamics, 28, 1-11.
Megginson, W. L., Nash, R. C., & Randenborgh, M. (2012). The financial and operating performance of newly privatized firms: An international empirical analysis. The Journal of Finance, 49(2), 403-452.
Nguyen, T. N. (2013). Determinants of Firm Growth in the Vietnamese Commercial-Service Sector. Journal of Economics and Development, 14(1), 57.
Nguyen, T. T., & Van Dijk, M. A. (2012). Corruption, growth, and governance: Private vs. state-owned firms in Vietnam. Journal of banking & finance, 36(11), 2935-2948.
Penrose, E. T. (1956). Foreign investment and the growth of the firm. The economic journal, 66(262), 220-235.
Pham, C. D., & Carlin, T. M. (2008). Financial performance of privatized state-owned enterprises (SOEs) in Vietnam. Journal of International Business Research, 7(3), 105.
Phung, D. N., & Mishra, A. V. (2016). Ownership Structure and Firm Performance: Evidence from Vietnamese Listed Firms. Australian Economic Papers, 55(1), 63-98. doi:http://onlinelibrary.wiley.com/journal/10.1111/%28ISSN%291467-8454/issues
Rasiah, D., Tong, D. Y. K., & Kim, P. K. (2014). Profitability and Firm Size-Growth Relationship in Construction Companies in Malaysia From 2003 to 2010. Review of Pacific Basin Financial Markets & Policies, 17(3), 1-19. doi:10.1142/S0219091514500143
Roberta, D., Ivan, P., & Emiliano, S. (2014). Size, Age and the Growth of Firms: New Evidence from Quantile Regressions. In: Fondazione Eni Enrico Mattei.
Roodman, D. (2009). How to do xtabond2: An introduction to difference and system GMM in Stata. Stata Journal, 9(1), 86-136.
Scott, W. R. (2015). Financial accounting theory: Don Mills, Ontario : Pearson Canada, [2015], 7th edition.
Sun, Q., & Feng, F. (2004). Do government-linked companies underperform? Journal of banking & finance, 28(10), 2461-2492.
Tang, A. (2015). Does Gibrat's law hold for Swedish energy firms? Empirical Economics, 49(2), 659-674. doi:10.1007/s00181-014-0883-x
Truong, D. L., Lanjouw, G., & Lensink, R. (2006). The impact of privatization on firm performance in a transition economy - The case of Vietnam. ECONOMICS OF TRANSITION, 14(2), 349-389.
Weill, P. (1992). The relationship between investment in information technology and firm performance: A study of the valve manufacturing sector. Information systems research, 3(4), 307-333.
Xiu-fang, L., Xiao-jiao, B., & Chao, A. (2013). The Growth Model of Life Insurance Companies: Based on the Empirical Test of the Gibrat Law. Insurance Studies, 3, 010.
Yang, W., & Meyer, K. E. (2018). How does ownership influence business growth? A competitive dynamics perspective. International Business Review.
Zhou, H., & de Wit, G. (2009). Determinants and dimensions of firm growth. SCALES EIM Research Reports (H200903).