Consequences of COVID-19 on Vietnamese extractive industry: empirical evidence
by Malik Abu Afifa; Nha Minh Nguyen; Hien Vo Van
International Journal of Business Excellence (IJBEX), Vol. 34, No. 3, 2024

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.

Online publication date: Mon, 09-Dec-2024

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