Authors:
Elaborates on the motivation and behaviour of the State as a shareholder of SIEs in the post-privatisation era in emerging markets
Presents updated statistics and descriptive analysis of the economic role of the State in emerging markets
Covers the increasing focus on the rapidly evolving roles of Vietnam and China in the global supply chain
Acts as an important guide to investors who are considering doing business in emerging markets where SIEs play a key role
Timely given the ostensibly greater involvement of the State in the global economy
Buy it now
Buying options
Tax calculation will be finalised at checkout
Other ways to access
This is a preview of subscription content, log in via an institution to check for access.
Table of contents (9 chapters)
-
Front Matter
About this book
In doing so, the book adopts an evidence-based approach to explain the State’s role as a shareholder in the different aspects of corporate governance, including CEO appointment, board structure and impact of State ownership on business strategy and performance. It highlights the influence of the State as a shareholder by investigating institutional factors consistent with “path dependence” theory, which postulates that the initial and underlying structure of an economy influences its performance. In addition, the book presents empirical evidence of the dynamics of corporate governance arising from interactions between the State and other shareholders, which has not yet been addressed in the literature, and is distinctive in providing new insights from both qualitative and empirical research on how to successfully navigate the emerging market business environments from the perspective of the State as an “owner-participant”.
Explaining the theoretical constructs in corporate governance in State-invested firms, empirical research methodologies, and results to draw and validate inferences, the book is comprehensive and provides a practical guide for practitioners as well as a reference for academics, undergraduate and postgraduate students. The new theoretical models proposed integrate traditional political-economic and agency theories, which also underpin tertiary business courses and academic research.
Keywords
- State as a shareholder of SIEs
- SIEs in Vietnam and China
- SIEs in Emerging Markets
- Emerging markets in global trade and investment
- Vietnam and the global supply chain
- China and the global supply chain
- The State and Business
- State as an owner-participant in business
- Trade War
- Trade War, China, and USA
- Outward Direct Investment in Asia
- Mergers and Acquisitions in Asia
Reviews
“State-owned enterprises (SOEs) in Vietnam remain a major pillar of the Vietnamese economy - the government owns a significant level of assets of listed companies. This is despite the equitation programmes of the 19990’s and 2000’s. In recent times there has been a marked reform of SOE governance and performance in Vietnam in its search for economic growth and to achieve its goal of national middle income status by 2030. Such efforts are to be commended and this study supports such steps to reform. It informs the further reforms necessary to move to an even more to a market oriented economy, such as better transparency and disclosure in the governance of SOEs, and improved state ownership activities and state capital management. In SOEs it is important to prevent inefficiencies and misallocation of resources. The study reviews state-owned enterprises with mixed ownership - partially state-owned combined with private sector investors and uses the benchmarks and compares SOE practices in Vietnamese SOEs with those of Singapore, Malaysia and China. As a regular provider of corporate governance support in Vietnam, I am heartened to see this very good review of SOEs in Vietnam. The authors are to be complimented on their efforts.” – Ms. Anne Molyneux, Director of CS International, Vice Chair of the International Corporate Governance Network (ICGN)
"A timely discussion about corporate governance of state-owned companies with mixed ownership in Vietnam. The book offers a good theoretical lens to understand the state shareholder as well as empirical evidence of the impact of state ownership. The book is a good read for both academic and practitioner audience." - Mr. Vu Bang, Economic Advisor to the Prime Minister, Chairman of Council of Vietnam Corporate Governance Initiative, Former Chairman of the State Securities Commission of Vietnam
A surprisingly good read for investors and others doing business in Vietnam and other emerging markets. This book – the first of its kind – offers an insightful peek into the corporate culture and governance of listed state-owned enterprises (SOEs), which comprise about one-third of the aggregate market capitalisation of Vietnam’s stock market. Many more SOEs set to be privatized over the decade, and the issue of corporate governance in SOEs is only going to become more important. The authors provide readers with a unique opportunity to gain a better understanding of the motivation and behaviour of the state shareholder, with useful takeaways derived from pragmatic and empirical research. I highly recommend it to anyone currently or considering investing in these companies. – Ms.Thu Nguyen, CFA, Managing Director, Head of Investment in Public Equities and Fixed Income
Authors and Affiliations
-
Monash Centre for Financial Studies, Monash University, Melbourne, Australia
Nga Pham
-
Director, eGalaxy Solutions, Melbourne, Australia
Kok-Boon Oh
About the authors
Nga Pham is a research fellow at the Monash Centre for Financial Studies, Monash University, Australia. She is also a member of the Disclosure and Transparency Committee of the International Corporate Governance Network. Before joining Monash University, Nga was the Dean of the Faculty of Management and Tourism and the Executive Director of La Trobe programs at Hanoi University. She was also a consultant to the International Finance Corporation (the World Bank Group) in corporate governance. She is a CFA Charterholder.
Kok-Boon Oh has over 40 years of industry experience in corporate finance, international business and academia in the Asia-Pacific Region. He held senior management positions in US and Asian multinational corporations. Kok-Boon has taught at La Trobe Business School. He has co-authored 11 reference books, and over 70 refereed international conference papers and journal articles.
Bibliographic Information
Book Title: State on Board!
Book Subtitle: Navigating Corporate Governance in Emerging Market Business
Authors: Nga Pham, Kok-Boon Oh
DOI: https://doi.org/10.1007/978-981-16-3525-0
Publisher: Palgrave Macmillan Singapore
eBook Packages: Economics and Finance, Economics and Finance (R0)
Copyright Information: The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd. 2021
Hardcover ISBN: 978-981-16-3524-3Published: 02 September 2021
Softcover ISBN: 978-981-16-3527-4Published: 03 September 2022
eBook ISBN: 978-981-16-3525-0Published: 01 September 2021
Edition Number: 1
Number of Pages: XXV, 247
Number of Illustrations: 51 b/w illustrations
Topics: Economic Policy, Emerging Markets/Globalization, Development Policy, Asian Business, Asian Economics, Development Economics