.../methodology/approach Research data were collected from 28 commercial banks in Vietnam over the period 2009–2023. The system-generalized method of moments was employed to generate the estimated results. Findings The research results revealed that (1) the negative impact of foreign ownership (FO) on CR...

... governance and increase company efficiency, as shown through the worth of cash holdings (Nguyen, 2022). In terms of foreign ownership, the presence of foreign investors has been positively linked to better corporate governance, such as a wiser cash management policy (Loncan, 2020). Huang and Zhu (2015...

... investment (AFI) as the residuals of the foreign ownership equation. The authors regress foreign ownership on its first lag and factors and define the residuals as the AFI. The AFI is the over- or under-investment reflecting foreign conscious (clear-purpose) investment, thus better indicating how foreign...