재무연구 제 권 호 (2019년 5월)
Asian Review of Financial Research, Vol., No..
pp.1619~1640
pp.1619~1640
Government Ownership and Corporate Social Responsibility Information Disclosure : Evidence from Viet Nam
Hang Thi Thuy Pham Student, First Author, College of Business Administration, Chonnam National University
Sung-Chang Jung Professor, Corresponding Author, College of Business Administration, Chonnam National University
Su-Yol Lee Professor, Corresponding Author, College of Business Administration, Chonnam National University
In this paper, we examine the impact of government ownership on Corporate Social Responsibility disclosure in case of Viet Nam in period 2010 ? 2016. This paper uses a sample of 374 listed firms in Ho Chi Minh Stock Exchange (HOSE) and Ha Noi Stock Exchange (HNX) excluding the financial sector. The findings highly support the institutional theory which implies that the ownership concentration characteristic affects negatively the level of CSR disclosure. Since the special feature of the Vietnamese economy, government ownership might be in line with the ownership concentration. We find strong and robust evidence that government ownership has a negative impact on CSR information disclosure. In addition, consistent with the previous research, size, profitability and firm’s age are positively related to CSR disclosure, and leverage is negatively associated with CSR disclosure.
Hang Thi Thuy Pham
Sung-Chang Jung
Su-Yol Lee
In this paper, we examine the impact of government ownership on Corporate Social Responsibility disclosure in case of Viet Nam in period 2010 ? 2016. This paper uses a sample of 374 listed firms in Ho Chi Minh Stock Exchange (HOSE) and Ha Noi Stock Exchange (HNX) excluding the financial sector. The findings highly support the institutional theory which implies that the ownership concentration characteristic affects negatively the level of CSR disclosure. Since the special feature of the Vietnamese economy, government ownership might be in line with the ownership concentration. We find strong and robust evidence that government ownership has a negative impact on CSR information disclosure. In addition, consistent with the previous research, size, profitability and firm’s age are positively related to CSR disclosure, and leverage is negatively associated with CSR disclosure.
