Abstract
Our study investigates risk-taking behavior among Vietnamese listed companies during 20 years (2000–2020). We acknowledge that regardless stages of companies, firms have tendency to take more risks, and that risk-taking activities in the course of the introduction and maturity phases can have both negative and positive forces on current and future performance. Additionally, the paper explored the moderating forces of the Z-score and HHI Index on this relationship. The paper contributes to the state-of-the-art by supplying empirical evidence about the relation between corporate life phases and willingness to take risk in Vietnamese non-financial firms. It provides a firm life cycle methodology to aid managers in develo** appropriate strategies and sheds new light on the moderating effects of Z-score as well as market competition on the link.
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Data availability statements
Raw data for this paper are not publicly available to preserve individuals’ privacy. The authors collected raw data from financial statements of listed companies in HNX and HOSE. Raw data was acquired from VietStock Company. Then, the authors proceeded raw data to turn data into corporate risk-taking data, Firm life cycle data and control variables data. Data requests can be made to corresponding author via this email: ngonguyenquynhnhu@tdtu.edu.vn.
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Conceptualization, NQNN; Methodology, NQNN; Software, NQNN; Validation, TKN; Formal analysis, TKN; Investigation, CNN; Resources, CNN; Data curation, NNNN; Writing—original draft, NNNN and TKN; Writing—review and editing, NQNN. All authors have read and agreed to the published version of the manuscript.
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Ngo, NQN., Nguyen, CN., Ngo, NNN. et al. The influence of firm life cycle on firm risk-taking: evidence of Vietnam. Int Rev Econ (2024). https://doi.org/10.1007/s12232-024-00463-w
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DOI: https://doi.org/10.1007/s12232-024-00463-w
Keywords
- Firm life cycle
- Firm risk-taking
- Develo** countries
- Z-score
- Market competition
- Moderating effect
- Covid pandemic