The Impact of Corporate Governance on Companies' Risk-taking: Evidence from Listed Companies in Vietnam

Purpose: Studying the impact of corporate governance factors on the risk-taking of listed Vietnamese companies. Design/methodology/approach: The research implements the method of studying static panel data, testing the model, with secondary data sources from corporate governance reports and financial statements of companies listed on the Vietnamese stock market, from 2010 to 2022. Findings: The study analyzed and drew conclusions about corporate governance factors that impact the level of risk-taking. Corporate governance factors that have a positive impact on the level of Risk-taking include: Size of the Board of Directors, duality of the Board of Directors, state ownership, foreign ownership, bank’s ownership. CEO ownership, independent members of the Board of Directors, experience of the chairman of the Board of Directors have a negative impact on the level of risk-taking. Research limitations/implications: In this study, no evidence was found that the participation of women in the Board of Directors has an impact on the company's risk-taking level. Duality of the Board of Directors, independent members of the Board of Directors, experience of the chairman of the Board of Directors are confirmed in one case of models in this study. Originality/value: The study provides empirical evidence on the impact of corporate governance factors on the level of risk-taking of listed companies in Vietnam. The article also makes recommendations for corporate governance in relation to the risk-taking of listed Vietnamese companies.