| dc.description.abstract | This study attempts to examine the nature of the relation between corporate governance performance and financial distress in Vietnam. For the dataset, there are a total of 171 large capital, non-financial firms listed on HOSE in 2018, which are observed in this research. This thesis uses the information disclosed in financial reports to calculate ZSCORE and annual reports in order to collect corporate governance data. Four hypotheses are developed based on previous studies and stewardship theory/agency theory. STATA and OLS regression are used to test these hypotheses and identify which theory better explains the relation.
The findings indicate the significantly positive element of corporate governance with the ZSCORE, or in other words, corporate governance has a negative relationship to the probability of financial distress. Besides, this research supports the agency theory. Meanwhile, the other two hypotheses are insignificant.
Keywords: corporate governance, financial distress, zscore, duality, board independence, board size | en_US |
