Title: Consequences of COVID-19 on Vietnamese extractive industry: empirical evidence

Authors: Malik Abu Afifa; Nha Minh Nguyen; Hien Vo Van

Addresses: Department of Accounting, Faculty of Business, Al-Zaytoonah University of Jordan, Amman 11733, Jordan ' Tien Giang University, 119 Ap Bac Street, My Tho City, Vietnam ' Tien Giang University, 119 Ap Bac Street, My Tho City, Vietnam

Abstract: This research aims to investigate the change of corporate performance of extractive listed corporates in Vietnam, and to test theories on the capital structure by considering the influence of COVID-19 pandemic. Our sample comprises Vietnamese extractive corporates listed on HOSE, HNX and Upcom. Using GMM estimation method, the findings demonstrate that there is a negative and substantial influence of leverage on discretionary and non-discretional performance, which suitable for trade-off theory and pecking-order theory. However, COVID-19 pandemic does not seriously impact the extractive corporate performance. Additionally, Vietnamese extractive corporates tend to use earnings management to reduce the influence of COVID-19 pandemic.

Keywords: firm performance; COVID-19 pandemic; Vietnam; extractive industry; trade-off theory; pecking-order theory.

DOI: 10.1504/IJBEX.2024.143203

International Journal of Business Excellence, 2024 Vol.34 No.3, pp.417 - 430

Received: 18 Jan 2022
Accepted: 13 Feb 2022
Published online: 09 Dec 2024 *

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