Issue: Số 6 - Tháng 3 - 2026Tài chính - Ngân hàng - Bảo hiểm
Impact of private equity ownership on earnings management of listed IT and Telecommunications firms in Vietnam over the 2014 - 2024 period
Published: August 3, 2026
Abstract
This study examines the impact of private ownership (PE) on earnings management behavior, proxied by cumulative gross operating net assets (GNOA), in Information Technology and Telecommunications (IT–Telecom) firms listed on the Vietnamese stock market. The empirical results reveal two countervailing mechanisms underlying earnings management. First, a disciplinary monitoring mechanism is evidenced by the negative effects of PE ratio, firm size, book value, fixed assets, and cash holdings on GNOA, indicating the supervisory role of professional investors and the constraining influence of internal asset structures. Second, a financial pressure mechanism emerges through the positive effects of financial leverage, return on investment, liquidity (quick ratio), and firm tenure, reflecting incentives to adjust reported figures in response to debt obligations and market expectations. These findings provide a nuanced understanding of the drivers of earnings management in the context of Vietnam’s digital economy and highlight the interplay between governance structures and financial pressures.
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