Proceedings of the International Conference on Emerging Challenges: Strategic Adaptation in The World of Uncertainties (ICECH 2022)

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Corporate Governance and the Accuracy of Analysts’ Earnings Forecast in Vietnam

Authors
Hanh Minh Thai1, Trang Ha Thi Thu1, *, Son Pham Ngoc1, Anh Mai Thi1
1School of Economics and Management, Hanoi University of Science and Technology, Hanoi, Vietnam
*Corresponding author. Email: trang.hathithu@hust.edu.vn
Corresponding Author
Trang Ha Thi Thu
Available Online 23 May 2023.
DOI
10.2991/978-94-6463-150-0_29How to use a DOI?
Keywords
corporate governance; analysts’ forecasts; board size; female CEO; board independence; state ownership; institutional ownership; managerial ownership; emerging country
Abstract

The paper aims to examine the influence of corporate governance on the accuracy of analyst’s earnings forecasts in Vietnamese stock markets. Although previous studies have examined the influence of corporate governance on the accuracy of analysts’ earnings forecasts, there has been no study in Vietnam where the financial markets are having high growth rate of development. In the paper, we investigate the impact of corporate governance on the analysts’ forecast accuracy using panel regression. Our sample comprises 386 firm-years for the period of 2015–2020. Corporate governance is studied through the roles of state, institution, board and management ownership, board size, board independence, board gender diversity, CEO duality and female CEO/chairman. The results show that state ownership has a negative impact and institutional ownership has a positive effect on analysts’ earnings forecast accuracy whereas other corporate governance characteristics are insignificant.

Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the International Conference on Emerging Challenges: Strategic Adaptation in The World of Uncertainties (ICECH 2022)
Series
Advances in Economics, Business and Management Research
Publication Date
23 May 2023
ISBN
978-94-6463-150-0
ISSN
2352-5428
DOI
10.2991/978-94-6463-150-0_29How to use a DOI?
Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Hanh Minh Thai
AU  - Trang Ha Thi Thu
AU  - Son Pham Ngoc
AU  - Anh Mai Thi
PY  - 2023
DA  - 2023/05/23
TI  - Corporate Governance and the Accuracy of Analysts’ Earnings Forecast in Vietnam
BT  - Proceedings of the International Conference on Emerging Challenges: Strategic Adaptation in The World of Uncertainties (ICECH 2022)
PB  - Atlantis Press
SP  - 442
EP  - 466
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-150-0_29
DO  - 10.2991/978-94-6463-150-0_29
ID  - Thai2023
ER  -