IMPACT OF CEO’S CHARACTERISTICS ON FIRM PERFORMANCE: THE CASE OF VIETNAM

Cao Đình Kiên - Hoàng Hải Yến - Trần Minh Ngọc

Abstract

Abstract:

Using a sample of 248 firms on Hanoi and Ho Chi Minh City stock exchanges, we shows that education level and tenure of the CEOs do not have any impact on the performance of Vietnamese firms. However, when the CEOs hold the undergraduate degree, tenure has a positive impact on the performance of Vietnamese firms. Firms with female CEOs realize a significantly lower operation efficiency compared to that of firms with male CEOs. Moreover, splitting CEO and chairperson roles has a positive impact on the performance of Vietnamese firms.

JEL codes: G32, G34, M12

Keywords: Corporate Governance, Behavior Finance, Financial Risk and Risk Management