What Influences Corporate Bond Issuing Decision and Value? The Role of Board of Director and Large Audit Firms in Vietnam

This paper investigates the role that board of director and large auditing firms play in the firm’s decision to issue corporate bonds using data of listed firms on the Ho Chi Minh city stock exchange in the period 2011-2018. Board size, independent directors, foreign members on board and large auditing firm are core independent variables being considered. The results show positive correlations between independent directors, large auditing firms and firm’s decision to issue bonds. This paper could not find relationship between board size, foreign board members and bonds issuing decisions. The findings could be suggestion to build suitable solutions to develop the Vietnamese corporate bond market and further researches.