The research uses data of 30 biggest listed companies in the Ho Chi Minh Stock Exchange (HOSE VN30 listed firms) to analyze the effects of ownership structure on the performance of these companies during the period of 2012-2018. After using the panel dataset, the findings show that foreign ownership has a positive impact on ROA and ROE. Also, financial leverage benefits in creating profits on equity while company size is only meaningful to ROE but does not create much impact. Besides, the state ownership and operational efficiency of the company have no relation, and the annual growth or company age is not meaningful for ROA and ROE. Based on these findings, the authors proposed some suggestions to enhance the performance of companies in emerging markets such as Vietnam.
