@article{Le_Nguyen_2022, title={The moderation role of investment opportunities in modifying the impact of state ownership on corporate risk-taking behavior}, volume={22}, url={https://jiem.ftu.edu.vn/index.php/jiem/article/view/79}, DOI={10.38203/jiem.022.2.0047}, abstractNote={This research aims at examining the moderation role of investment opportunities in the effect of state ownership on risk-taking behavior. The financial data of non-financial listed firms in Hanoi and Ho Chi Minh stock exchanges are collected from Bloomberg. The sample includes firm observations during the period from 2015 to 2020 with 2,664 firm-year observations. The paper finds that state ownership negatively affects corporate risk-taking behavior. Investment opportunities are found to moderate the negative impact of state ownership on corporate risktaking activities. The findings are robust by year-fixed effects along with clustered standard errors. Based on these findings, two policy recommendations are provided. First, state-owned firms should improve their corporate governance to deal with agency problems. Second, the government should consider policies to encourage state-owned firms to increase their risktaking behavior.}, number={2}, journal={Journal of International Economics and Management}, author={Le, Quang Minh and Nguyen, Hoang Minh}, year={2022}, month={Jul.}, pages={42-55} }