Title: COVID-19 and listed firms' performance under moderating role of ownership in Vietnam

Authors: Quoc Trung Nguyen Kim

Addresses: Faculty of Accounting – Auditing, University of Finance – Marketing, 778 Nguyen Kiem, Ward 4, Phu Nhuan District, Ho Chi Minh City, Vietnam

Abstract: This paper aims to examine the effect of COVID-19 on the performance of listed firms in Vietnam from 2012 to 2022, with ownership acting as a moderator. The study contributes significantly to the existing literature by employing agency theory and real options theory to explore the impact of COVID-19 on firm performance under uncertain conditions. Additionally, the study emphasises the moderating role of ownership in the relationship between COVID-19 and performance. Performing a quantitative research method, specifically the feasible generalised least squares (FGLS) method, the findings reveal that the following variables are statistically significant at a 5% level: COVID-19, ownership, firm size, inflation rate, and an interaction term. These findings address the research gap in the Vietnamese context during the pandemic and demonstrate a positive relationship between the COVID-19 and firms' performance, moderated by ownership.

Keywords: COVID-19; firm's performance; listed firms; moderating factor; ownership; Vietnam.

DOI: 10.1504/IJPM.2024.139708

International Journal of Procurement Management, 2024 Vol.20 No.4, pp.524 - 536

Received: 12 Jul 2023
Accepted: 18 Jul 2023
Published online: 05 Jul 2024 *

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