Discussion on the Ownership Structure of the Firm

For many years, ownership structure in firms has been one of the topics of great concern among firms in Vietnam. This topic has received even more attention since the process of privatizing state-owned enterprises in Vietnam began in 1992. One of the issues of concern in the process of restructuring enterprises is the divestment of state capital or the greater participation of other shareholders, especially foreign shareholders. Different groups of shareholders will have different interests and benefits and have different relationships with the government, banks, and strategic partners. Ownership structure is one of the most important issues for firms because it affects production and business activities and operational goals, especially the performance of firms in general and warehousing firms in particular. In the context of international integration, economic restructuring is taking place at an urgent pace, with the focus being on business restructuring (Tran, 2018) [13]. State ownership is measured by the percentage of state ownership in companies (Khaw et al., 2016) [11]. Foreign ownership is measured by the percentage of foreign investors' ownership in companies (Vo, 2016; Chun & Lee, 2017) [15, 2]. The goal of this article is to discuss the ownership structure of firms listed on the Vietnamese stock market through qualitative research methods. Some implications are proposed to help firm perfect appropriate ownership structures.