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ISSN : 2288-4637(Print)
ISSN : 2288-4645(Online)
The Journal of Asian Finance, Economics and Business Vol.7 No.6 pp.73-84
DOI : https://doi.org/10.13106/jafeb.2020.vol7.no6.073

Determinants of Sustainability Disclosure: Empirical Evidence from Vietnam

Anh Huu NGUYEN1,Linh Ha NGUYEN2
* This research was funded by the National Economics University (NEU), Hanoi, Vietnam. The authors thank anonymous referees for their contributions and the NEU for funding this research.
2 Lecturer, School of Accounting and Auditing, National Economics University, Vietnam. Email: halinh1510@gmail.com

© Copyright: The Author(s)
This is an Open Access article distributed under the terms of the Creative Commons Attribution Non-Commercial License (http://Creativecommons.org/licenses/by-nc/4.0/) which permits unrestricted noncommercial use, distribution, and reproduction in any medium, provided the original work is properly cited.
1 First Author and Corresponding Author. Dean, School of Accounting and Auditing, National Economics University, Vietnam [Postal Address: 207 Giai Phong Road, Dong Tam Ward, Hai Ba Trung District, Hanoi, 113068, Vietnam] Email: anhnh@neu.edu.vn
March 30, 2020 April 04, 2020 May 01, 2020

Abstract

The paper investigates the effect of the factors on the disclosure of sustainable development information of enterprises. The research sample includes 120 manufacturing companies listed on Vietnam stock market in 2019. This research uses ordinary least squares (OLS) to address econometric issues and to improve the accuracy of the regression coefficients. The empirical results show that five variables have a statistically significant positive effect on disclosure of sustainable development information of manufacturing companies, including firm size (SIZE), independence of board of directors (BOD), foreign ownership (FRO), return on equity (ROE), and financial leverage (LEV). The results indicate that state ownership (STO) has a statistically significant negative effect on disclosure of sustainable development information of manufacturing companies listed on Vietnam stock market. Besides, the research results also show there is a large difference in the disclosure of sustainable development information between listed companies in Vietnam, those of other emerging economies in the region, and the companies in developed markets. Therefore, this paper provides a new insight to managers and related parties on how to improve the firm’s sustainability disclosure to bring benefit for the firm itself and the stakeholders by reasonable decisions about the factors that affect disclosure of sustainable development information.

JEL Classification Code: G32, G40, M41, M14

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