Title: Corporate governance and bank performance in Vietnam: the role of the board of directors

Authors: Pham Hai Nam; Le Ha Diem Chi

Addresses: Ho Chi Minh University of Banking, 36 Ton That Dam Street, Nguyen Thai Binh Ward, 1st District, 700000, Ho Chi Minh City, Vietnam ' Ho Chi Minh University of Banking, 36 Ton That Dam Street, Nguyen Thai Binh Ward, 1st District, 700000, Ho Chi Minh City, Vietnam

Abstract: This study examines the impact of board characteristics on 30 Vietnamese commercial banks' performance from 2012 to 2020. Variables representing the characteristics of the board of directors include state shareholders, the board size, independent members, the duality of the CEO, and female members of the board of directors. The variables that represent the performance of commercial banks are ROA and ROE. By regression of balanced panel data according to the SGMM method, research results show that independent and female members of the board of directors positively impact the performance of Vietnamese commercial banks. In contrast, state shareholders, board size, and CEO duality have a negative impact on bank performance.

Keywords: board characteristics; bank performance; commercial bank.

DOI: 10.1504/AAJFA.2025.149794

Afro-Asian Journal of Finance and Accounting, 2025 Vol.15 No.6, pp.745 - 757

Received: 28 Dec 2022
Accepted: 29 Dec 2023
Published online: 13 Nov 2025 *

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