The Influence of the Board of Directors and Ownership Structures on the Performance of Listed Companies in Thailand and Vietnam

This study aims to explore the impact of the board of directors and ownership structures on the performance of publicly listed companies in Thailand and Vietnam. The research focuses on a sample of companies over a two-year period (2018 and 2022), including 907 listed companies from the Stock Exchange of Thailand and the Market for Alternative Investment, and 721 listed companies from the Ho Chi Minh Stock Exchange and the Hanoi Stock Exchange, totaling approximately 2,398 observations. The study employs a quantitative research design, utilizing multiple linear regression analysis. The results, grounded in corporate governance practices and agency theory, reveal that the board of directors and ownership structures have statistically significant positive and negative effects on firm performance. These findings provide policy recommendations for policymakers and management, while also contributing to the literature on the relationships between the board of directors, ownership structures, and firm performance in both countries.