TAP CHi CONG THlTtfNG
TAC D O N G CUA QUAN TRI CONG TY DEN RUI RO CUA CAC NGAN HANG
THlJCfNG MAI TAI VIET NAM
• PHAM HOANG AN
TOM TAT:
Bai vie't ndy phdn tich tac ddng cua quan tri cdng ty (QTCT) de'n nil ro cua cac ngdn hang thtfdng mai (NHTM) d Viet Nam, sff dung dff lieu thff cd'p cua 26 NHTM vdi 182 quan sat trong giai doan 2011 -2017, dp dung phan tich hdi quy dff lieu bang dd' ffde Iffdng cac he sd hdi quy. Kd't qua thtfc nghiem cho thd'y, quy md hdi ddng quan tri (HDQT), thanh vien HDQT ddc lap, thanh vien HDQT Id nff, thdnh vidn HDQT la ngffdi ntfdc ngoai va thanh vien HDQT tham gia dieu banh cd tdc dpng de'n rui ro ciia ngdn bang. Tuy nhien, d Vidt Nam chffa tim thd'y md'i quan he giffa thanh vien HDQT cd trinh dd sau dai hoc vdi rui ro cua ngdn hang.
Tif khoa: Quan tri cdng ty, riii ro, ngan hang thffdng mai, Vidt Nam.
1. Gidi thieu
Trong hdn mdt thdp ky qua, viec quan tri cdng ty (QTCT) trong ngdn hang da nhan dffdc sff quan tdm ngay cang gia tang cua gidi hpc thudt & cdc nffde phat trien va cac nffde mdi noi. Cac nghien cffu vd tdc ddng cua QTCT de'n rui ro cua ngdn bang da dffdc thffc hien bdi Pathan (2009) va Iqbal vd ctg (2015) tai My, Berger va ctg (2014) tai Dffc, Chan va ctg (2016) va Dong vd ctg (2017) tai Trung Quo'c, Felicio vd ctg (2018) tai Chdu Au, Setiyono vd Tarazi (2018) tai Indonesia. Kd't qua tff cac nghien cffu khde nhau nhtf cd tdc ddng tich cffc, tidu cffc hay khdng cd quan he, thdm chi cd tac ddng bdn hdp bay khdng cd ke't luan trong cac nghidn cffu trffdc day d cdc ntfdc phdt trien. Va, cdc nghidn cffu ndy kbi dffdc kidm chffng d cac thi trtfdng mdi noi cho ke't qua khdng pbu bdp nhff nghien cffu d tbi trffdng phat trien. Viet Nam Id mpt qud'c gia dang phat trien, moi trtfdng phap ly
dang trong giai doan hoan thien dd hdi nhap vcii cdc nffde trong khu vffc. Vi vay, can cd nghien cffu vd tdc dong QTCT dd'n rui ro cua cdc NHTM ci Vidt Nam. Ke't qua nghidn cffu Id cd sd khoa hoc de cdc nhd quan tn ngdn hdng cd thd' dffa ra cac quye't dinh bdp ly, ban che' rui ro cho ngan hang ciia minh, lam cho co phie'u ngdnh ngan hang cd sffc ha'p dan hdn tren thi trffdng.
2. Ctf scf ly thuyet va phffdng phap nghien ctfu 2.1. Ca sdly thuyet
Nghien cffu cua Pathan (2009), xem xet tac ddng cua cd'u true HDQT ngdn hdng ddi vdi viec chd'p nhan nii ro cua ngdn hang d My giai doan 1997 - 2004. Ke't qua nghien cffu cho tha'y rang, sffc manh cua HDQT (thdng qua vide HDQT quan tam nhieu de'n cac ldi ich ciia cd ddng), ddc bi&tia HDQT cd quy md nhd anb hffdng tich ctfc dd'n nii ro ngdn bang, Ngtfdc lai, quyen Itfc cua CEOcd dnh htfdng tidu cffc de'n riii ro ngdn hang.
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Berger vd ctg (2014), nghidn cffu md'i quan he giffa thanh phan HDQT vd rui ro ngan bdng d Bdc trong giai doan 1994 - 2010. Kd't qua nghien ctfu cho tha'y rang, thdnh vien HDQT cd dd tudi tre vd ty le thanh vidn nff ttong HDQT Idn Iam cho riii ro cua ngdn hdng tang len. Ngffdc lai, khi ty le thanh vien HDQT cd tnnh dd tid'n sy tang se lam cho rui ro giam.
Iqbal va ctg (2015), nghien cffu md'i quan be gifla quan tri cdng ty va rui ro he thd'ng cua cac td chffc tai chinh d My, giai doan 2005 - 2010. Ke't qua nghien cffu cho thd'y rang, quan tri cdng ty td't lam han chd' rui ro trong nganh tai chinh.
Chan va ctg (2016) da tie'n hanh phan tich tac dpng ctia dac diem HDQT de'n hdnh vi chap nhan rui ro cua cdc NHTM nidm ye't tai Trung Qud'c giai doan 2003 - 2011. Ke't qua nghien cffu cho thd'y rang, quy md HDQT nhd vd ty Id thanh vien HDQT ddc lap cao Iam cho rui ro ngdn hdng giam.
Ngoai ra, cac ngan hang vdi HDQT cd stf da dang vl gidi, sd hffu nha nffde va dp tudi trung binb cao hdn se gidp tang ctfdng gidi quyd't cdc va'n de vd hieu bid't thi trffdng nham tudn thff cdc chinh sach qudn tri hoac chinh sdch phap ludt va giup giam riii ro ciia ngan hang.
Nghien cffu cua Dong va ctg (2017), sff dung dff heu thu dffdc tff cdc ngan hang dang hoat ddng d Tmng Qudc giai doan 2003 - 2011 de phan tich tac dpng cua cd cd'u HDQT (nhtf: quy md, thdnh phan va chii'c ndng) ddn hieu qua va nii ro cua ngdn hang. Ke't qua nghien cffu thffc nghiem cho thd'y rang, dac diem cua HDQT cd anh htfdng manh den rui ro ngdn hang.
Felicio vd ctg (2018), phdn tich md'i quan be gifla cdc cd chd' quan tn cdng ty vd rui ro cua 97 ngan hang niem ye't Idn nhd't chdu Au giai doan 2006 - 2010. Ke't qua nghien cffu cho thd'y rang, cac CO che quan tri cdng ty anh htfdng de'n nil ro ngdn hang. Ngodi ra, quy md ngdn hdng va GDP binh quan dau ngffdi cung anb htfdng dd'n rui ro ngan hang.
Nghidn cffu cua Setiyono va Tarazi (2018) xem xet anh hffdng cua stf da dang hda ciia cac thanh vien HDQT len hieu qua vd riii ro cua cac ngan liang d Indonesia giai doan 2001 - 2011, Ke't qua nghidn cffu chi ra rang, stf da dang hod vd nff gidi va kinh nghiem tam cho rui ro giam, nhtfng da dang hda ve qud'c tich va dan tdc lam cho rui ro tdng.
2.2. PhUtmgphdp nghien ciiu 2.2.}. Md hinh vd phuang phdp nghiin cdu Dtfa tren cdc md hinh nghidn cffu cua Chan va ctg (2016) va Dong va ctg (2017) Idm nen tang, co dieu chinh them bid'n giai thich cho pbu bdp vdi Viet Nam, nghien cffu dp dung md binh sau:
Risk,, = ^0 + PjBsize -I- p2Bindep + p^Femdir + P4Fordir + p^Execdir + p^Edu + pjSIZE + pgLAR + pgCAP + PioLDR + ^„L7Q + ^}2TIQ + PjsList + Pi^Ecogrow + e„
Trong dd, Riskjt.- Rtii ro ciia ngdn hdng i (Z- Score, NPL) tai thdt die'm t; Bsize: quy md HDQT;
Bindep: ty li thdnh viin HDQT ddc lap; Femdir: ty le thdnh viin HDQT la nd; Fordir: ty li thdnh viin HDQT Id ngudi nUdc ngodi; Execdir: ty le thdnh viin HDQT tham gia dieu hdnh; Edu: ty li thdnh viin HDQTcd trinh dd sau dgi hpc; SIZE: quy md ngdn hdng; LAR: duna cho vay/tdng tdi sdn; CAP:
quy md vd'n chu sd hdu; LDR: dU na cho vay/tong tiin gdi; LIQ: tdi sdn thanh khodn/tdng tdi sdn;
LIQ: chi phi/thu nhdp; List: ngdn hdng niim yi't;
vd Ecogrow: tdng trudng kinh te.
Nghien cffu nay sff dung phffdng phap GMM dffdc gidi thidu bdi Arellano vd Bond (1991) de xff ly hien ttfdng ndi sinh tiem a'n trong md binh, ffde Iffdng cua Arellano va Bond (1991) cdn phu hdp vdi cdc dff lieu bang ngdn vdi cbudi tbdi gian T nho (7 ndm) vd N ldn (26 ngdn hdng). Cac nghien cffu cua Pathan (2009), Dong va ctg (2014), Chan va ctg (2016) va Dong va ctg (2017) sff dung phffdng phap GMM 2 btfdc dd tfdc Itfdng cdc he so hdi quy.
2.2.2. DU lieu vd mdu nghiin cdu Sd lieu sff dung trong nghidn cffu nay dffdc la'y tff bdo cdo thtfdng nidn, bao cdo tai chinh hdp nha't cd kiem toan, bao cdo quan tri cdng ty, tdi lieu dai hdi dong cd ddng thffdng nien theo ndm cua cdc NHTMCP Vidt Nam, bd dff lieu World Economic Outlook (WEO) cua Quy tien te qud'c te (International Monetary Fund - IMF) giai doan 2011 - 2017. Tinh den ngay 31/12/2017, NHTM Viet Nam CO 35 ngdn hang. Sd lidu dffdc tbu thap va chpn iffa sau khi loai bd cdc ngdn hang khdng cdng bd' thdng tin bode thdng tin khdng day du. Ke't qua la mdt mdu nghien cffu dff lieu bang cdn bang bao gdm 26 ngdn hang vdi 182 quan sat dffdc sff dung de phuc vu cho viec nghien cffu. Bang I thd'ng ke md ta gia tri hung binh, do lech chua'n, gid tri nhd nha't cung nhff gid tri ldn nha't cua cac bid'n sd'ndy.
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TAP CHi CONG THlftfNG
Bang 1. Bang thong ke nno td cac bien
Bien Z-Score
NPL Bsize Bindep Femdir Fordir Execdtr
Edu SIZE LAR CAP LDR LIQ CTI List GDP
Soquan sat 182 182 182 182 182 182 182 182 182 182 182 182 182 182 182 182
Gia tri trung binti 3,3341 0,0235 7,13 0,1404 0,1615 0,0988 0,1456 0,5256 92.443 0,5262 0,0974 0,8360 0,1916 1,0366 0,3846 0,0608
00 i§ctl ciiuan 0,7815 0,0129 0,2437 0,0734 0,1545 0,1287 0,1205 0,2554 1,0924 0,1311 0,0411 0,1944 0,0920 6,3568 0,4878 0,0054
Gia tri niio nhat -0,6895 0,0056 5 0 0 0 0 0 14.685 0,1473 0,0406 0,3719 0,0452 0,2875 0 0,0525
Gia tn lan niia) 4,8422
0,088 15 0,4 0,625 0,4286 0,4444 1 1.202.284
0,7313 0,2384 1,5977 0,611 86,3019
1 0,0681
3. Kd't qua va thao luan
Nghien cffu kiem tra kha ndng cd the xuat hien da cdng tuye'n gitfa cdc bie'n so bang each thie't lap ma trdn he so tffdng quan cua cdc bid'n va chi sd' VIF (He so' phong dai phtfdng sai). Ke't qua he sd' ttfdng quan giffa cac cap bid'n khdng cd trtfdng hpp nao vtfdt qua 0,8. Dong chi sd VIF ldn nha't ctia cdc bie'n dpc lap trong nghien cffu nay la 5,02 va nhd hdn so vdi 10 (Gujarati, 2004). Do dd hidn tffdng da cdng tuye'n trong md hinh nghien cffu Id khdng ddng ke'.
Kit qua hdi quy
Ke't qua bdi quy cua mo binb dffdc the' bien tai Bang 2.
Trong ca 2 md binh, kiem dinh Hansen cd p-value lan Iffdt la 0,482 vd 0,330 deu ldn hdn 0,1 nen cha'p nhdn gid thuye't HO: rad hinh dtfdc xdc dinb dung, cdc bie'n dai didn la hdp ly. Kie'm dinh F trong ca 2 md hinh d^u cd p-value la 0,000 nhd hdn 0,01, do do ta bdc bd gia thuye't HO: td't ca cdc hd sd' ffde Itfdng trong phtfdng trinh deu bang 0, hay cdc he so tfdc Itfdng cua bie'n gidi thich co y
Ngudn: Tinh todn cua tdc gid tie dd Iiiu nghien citu nghia thd'ng ke. Nhtf vdy, cd 2 md hinh deu phu hdp. Kie'm dinb AR(1) cua ca hai md hinh cd gid tri p-value lan Itfdt la 0,061 va 0,019 d^u nhd hdn 0,1 ndn bacbd gia thuye't HO: khdng cdsd ttfdng quan chudi bdc 1, nghTa Id cd sff tffdng quan chudi bdc 1. Kie'm dinh AR(2) cua ca hai mo hinh cd gia trj p-value lan Iffdt la 0,938 va 0,118 deu Idn hdn 0,1 nen cha'p nhan gid tbuyg'l HO: khdng cd sff tffdng quan chudi bac 2 trong phdn dtf ciia md hinh hoi quy.
Nhtf vdy, phtfdng phdp hoi quy sff dung la pliil hdp vdi md hinh bang ddng, bie'n phu thudc ruiro (Zscore vd NPL) cua cac NHTM Viet Nara chiu tac ddng dang ke' bdi mffe dp rui ro ca nam ffu'^c (Z-scoret-1 va NPLt-1), cdc yd'u td ddc thii c^a ngan hang, mdi trffdng kinh td' vT rad.
Bie'n dau tien dffdc xem xet 6 ddy la quy mS HDQT, quy md HDQT cd tac ddng ngffdc chilu vd cd y nghla thd'ng ke vdi bie'n rffi ro (NPL). Ket qua nghien cffu ndy phu hdp vdi cac ke't qua nghien cffu trffdc day cua Pathan (2009) vd Chan va ctg (2016). Md'i tffdng quan am chira rang c^c
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Bang 2. Ket qud phan tich hoi quy mo hinh SGMM Bien
Z-Score,_i
NPL,.,
Bsize
Bindep
Femdir
Fordir
Execdir
Edu
SiZE
LAR
CAP
LDR
LIQ
CTI
List
GDP
Hang so AR(1) AR(2) Sargan test Hansen test F-test
Z-ScorB 0,9054"*
(0,000)
-0,0409 (0,476) -0,5989"
(0,018) 0,3350™
(0,005) 0,2180"
(0,047) -0,2650"
(0,014) 0,0128 (0,900) 0,1345"*
(0,000) 0,4271 (0,126) 6,2683*"
(0,000) -0,3518"
(0,014) 0,4888 (0,162) -0,0406 (0.730) 0,0163 (0,690) 9,4677*"
(0,000) -3,2420 (0,000) 0,061 0,938 0,000 0,482 0,000
NPL
0,3339*"
(0,000) -0,0049**
(0,041) -0,0325"
(0,026) -0,0065"
(0,026) 0,0034 (0,455) -0,0033 (0,488) -0,0009 (0,731) -0,0024*
(0,068) -0,0015 (0,895) 0,0360 (0,315) -0,0077 (0,251) -0,0069 (0,409) -0,0041 (0,361) 0,0059"*
(0,000) -0,4393"*
(0,000) 0,1084 (0,000) 0,019 0,118 0,002 0,330 0,000 GW chij:'" miic y ngiva 1%," rrtQcy nghia 5%,' miic y nghia 10%
Ngudn: Tinh todn cda tdc gid til dd lieu nghien cdu
NHTM Viet Nam cd quy rad cdng ldn thi rui ro ngan hang cdng giara, do quy md HDQT ldn va hoat ddng bieu qua se nang cao kha nang giam sat va quan ly rui ro cua ngdn hdng.
Ty Id thdnh vien HDQT ddc lap cd ttfdng quan dm va cd y nghia thd'ng ke vdi bie'n rui ro (Z-score). Md'i ttfdng quan dm chi ra rang cac NHTM Vidt Nam cd ty le thdnh vien HDQT dpc lap cang Idn thi chi sd Z-score cdng giara d§n dd'n riii ro phd san gia tang, do stf hien dien cua ho lam cho xu htfdng cdc CEO ngai chia se thdng tin vdi HDQT nen hieu qua gidm sat rui ro cua HDQT khdng phat huy hieu qud. Ddng tbdi, ty le thanh vien HDQT cd ttfdng quan dm vd cd y nghTa thd'ng ke vdi bie'n rui ro (NPL). Md'i tffdng quan am chi ra rang cac NHTM Vidt Nam co ty le thdnh vien HDQT dpc lap cang Idn thi rui ro tin dung ngdn hdng cdng gidm
Ty Id thanh vien nff trong HDQT cd ttfdng quan dtfdng vd cd y nghia thd'ng kd vdi bie'n rui ro (Z-score). Ke't qua nghien cffu nay khd thd vi la d cdc NHTM Vidt Nam khi ty le thanh vien HDQT la nff tang thi chi sd' Z-score tdng, mffe dd 6n dinh cua ngdn hang tdng vd do do nguy cd rui ro pha san cua ngan hang giam. Dong thdi, ty Id thdnh vien nff trong HDQT co ttfdng quan am vd cd y nghia thd'ng ke vdi bid'n rui ro (NPL). Ke't qua nghien ctfu ndy phu hdp vdi cac kd't qua nghien cffu trtfdc ddy cua Dong va ctg (2014) vd Dong vd ctg (2017). Md'i ttfdng quan am chi ra rang cdc NHTM Viet Nam cd ty Id tbanh vien HDQT Id nff cang ldn thi rui ro tin dung cua ngdn hang cang giam.
Ty id thdnh vidn HDQT la ngffdi ntfdc ngoai cd ttfdng quan dtfdng vd co y nghla thd'ng kd vdi bid'n rui ro (Z-score). Ke't qua nghidn ctfu ndy pbii hpp vdi ke't qua nghien cffu trffdc day cua Dong vd ctg (2017) cf cac NHTM cua Trung Qud'c. Md'i tffdng quan dffdng cbl ra rang cac NHTM Viet Nam cd ty Id thdnh vidn HDQT la ngtfdi ntfdc ngodi cdng ldn thi chi so' Z-sore cdng tdng tffc Id rui ro phd san cua ngdn hang cdng giam Sff hien dien cua cdc thanh vidn HDQT la
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TAP GHi GONG THIfdNG
ngtfdi ntfdc ngoai trong HDQT giup khd ndng ttf vd'n cua HDQT cd the' dtfdc tdng ctfdng thdng qua kinh nghiem va kie'n thffc sdu rdng cua hp ve thi trtfdng ntfdc ngoai va he thd'ng ke't nd'i cua hp va dffa cdng nghe mdi, ky ndng vd ky nang quan tri vao dp dung giup giam thie'u rui ro.
Ty Id thdnh vidn HDQT tham gia dieu hanh cd ttfdng quan am va cd y nghTa thd'ng ke vdi bid'n rui ro (Z-score). Md'i ttfdng quan dm cbi ra rang cdc NHTM Vidt Nara cd ty Id thdnh vien HDQT tham gia dieu hanb cang ldn thi chi sd'Z-score giam dan de^n rui ro phd sdn cua ngan hdng cdng tang. Vide gidm sdt cdc nhd qudn ly hdng dau co th^ bi suy ye'u do giam dd'c dieu banh cung chinh la thanh vien HDQT. Kd't qua nghien cffu nay phd hdp vdi kd't qua nghien cffu trtfdc day cua Dong vd ctg (2017) d cac NHTM cua Trung Qudc.
Cud'i cung, kd't qud cho tha'y rang khdng cd bang chffng ve md'i quan be giffa ty Id thdnh vien HDQT CO trinh dd sau dai hpc vdi rui ro cua cdc ngdn bdng d Viet Nam.
4. Ket lu^n va ham y chinh sach 4.1. Kdt luan
Bai vie't nghien ctfu tac ddng cua QTCT de'n riji ro cua cdc NHTM tai Viet Nam trong giai doan 2011-2017. Nghien ctfu sff dung dff lieu bang dang can bang vdi 182 quan sdt. Phtfdng phap phan tich sff dung hdi quy SGMM. Bdi nghidn ctfu chi ra bang chtfng tai thi trtfdng Viet Nam rang, bie'n quy md HDQT (Bsize), ty le tbanh vien HDQT ddc lap (Bindep), ty le thanh vien ntf trong HDQT (Femdir), ty Id thdnh vidn HDQT la ngtfdi ntfdc
ngoai (Fordir), ty Id thanh vidn HDQT tham gia di^u hanh (Execdir) cd tac ddng de'n riii ro ctia ngan hang. Tuy nhidn, bie'n ty le tbanh vien HDQT cd trinb dp sau dai bpc (Edu) lai khdng cd y nghia thd'ng kd vdi rui ro ngan hang.
4.2. Hdm y chinh sdch
Ttf ke't qua thffc nghiem, nghien cffu khuyen nghi cdc cac chinh sdch nhtf sau:
Mdt Id, cac ngan hang thtfdng mai can tie'p tuc duy tn va dam bao sd' Iffdng thanh vien HDQT hdp ly phil bdp vdi chie'n Iffdc phdt trien cua tffng ngan hang va bd'i canh kinh te' cua Viet Nam.
Hat la, can ddm bao sd' Iffdng to'i thi^u thdnh vidn ddc lap trong HDQT, vide cd nhilu thanh vien ddc ldp trong HDQT se lam cho rui ro cua ngan bdng giam.
Ba Id, ca'u true HDQT trong ngan bang nen gia tang ty le ntt vi tff ke't qua nghien ctfu cho tha'y thdnh vidn ntt trong HDQT gdp ph^n lam giam rOi ro cua ngdn hang.
Bdn la, trong bd'i cdnh hpi nhap qud'c td' v^
thffc hidn viec tai cd ca^u he thd'ng ngdn hdng.
Cdc NHTM tim kie'm cac dd'i tdc chie'n Iffdc la cac nha d^u tff nffde ngodi de'nang cao nang Itfc tdi chinh cua minh, thdng qua dd cdc doi tac chie'n Iffdc cff ngffdi dai dien phan vd'n cua minh tham gia vdo HDQT.
Ndm la, can ban che vide thanh vidn HDQT kiem nhiem tham gia dieu banh hoat ddng cda ngan hang, nhdm giam thieu nhffng anh htfdng lidn quan tdi viec danh gid ddc ldp hoac xung dot Idi ich •
TAI LIEU THAM K H A O :
1. Arellano, /w., <E Bond, S. (1991). Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations. The review of economic studies, 58(2), 277-297.
2. Berger, A. N., Kick, T, & Schaeck, K., (2014), Executive board composition and hank risk taking. Journal of Corporate Finance, 28, 48-65.
3. Chan, S. G., Koh, E. H., &Karim,M. Z A. (2016). The Chinese banks' directors and their risk-taking behavior: A corporate governance and finance perspective. Chinese Management Studies, 10(2), 291-311.
4. Dong, Y, Meng, C, Firth, M.. &. Hou, W. (2014). Ownership structure and risk-taking: Comparative evidence from private and state-controlled banks in China. International Review of Financial Analysis, 36,120-130.
5. Dong, Y., Girardone, C, & Kuo, J M. (2017). Governance, efficiency and risk taking in Chinese banking. The British Accounting Review, 49(2), 211-229.
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6. Feliclo, J. A., Rodngues, R., Grove, H., & Greiner, A. (2018). The influence of corporate governance on bank risk during a financial crisis. Economic Research-Ekonomska Istrazivanja, 31(1), 1078-1090.
7. Gujarati, D. (2004), Ba.sic Econometrics, 4th Ed., India: Tata McGraw Hill, India.
8. Iqbal, J, Strobl, S., & Vdhdtnaa, S. (2015). Corporate governance and the systemic risk of financial in.<;titutions.
Journal of Economics and Business, 82,42-61.
9 Pathan, S. (2009). Strong boards, CEO power and bank risk-taking. Journal of Banking & Finance, 33(7), 1340- 1350
10. Setiyono, B., & Tarazi, A. (2018). Does diversity of bank board members affect performance and risk? Evidence from an emerging market. In Corporate Governance in Banking and Investor Protection, 185-218. Springer, Cham.
Ngay nhgn bai: 17/3/2019
Ngay phan bi$n danh gia va s^a chu'a: 27/3/2019 Ngay chdrp nhan dang bai: 5/4/2019
Thdng tin tdc gid:
ThS. PHAM HOANG AN Trtftfng Dai hoc Van Hid'n
THE IMPACT OF CORPORATE GOVERNANCE ON RISK OF COMMERCIAL BANKS IN VIETNAM
• Master. PHAM HOANG AN Van Hien University
ABSTRACT:
This study examines the impacts of corporate governance on risks of coramercial banks in Vietnam. The secondary data of 26 banks v/ith 182 observations during the period of 2011 and 2017 and the panel data regression were used. The erapirical results indicate that if board size, the member of the board are indepedent, females are foreigners or CEO, they willhavesignificant influence on risks of the bank. The smdy does not find any relationship between the member of the board who have postgraduate education and risks of the bank.
Keywords: Corporate governance, risk, coramercial banks, Viemam.
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