The moderating effect of COVID-19 on ownership concentration - agency cost relationship-Case of Vietnamese listed real estate firms

Abstract

The overall results imply that private firms will react better to crises due to their quick adaptation ability. State-owned firms’ managers should pay extra attention and formulate contingency plans to counter the complicated bureaucratic structure of State regulation to adapt to the crisis quickly. Regulators and policymakers from developing economies should focus on creating a more transparent system, specifically on how firms should react during times of instability.