Corporate Social Responsibility Disclosure and Its Effect on Firm Risk: An Empirical Research on Vietnamese Firms

The purpose of the study was to gather empirical evidence on the influence of corporate social responsibility (CSR) disclosure on firm risk of Vietnam’s publicly listed companies. We used adjusted OLS estimation and regression analysis with adjusted panel data for heteroskedasticity and/or autocorre...

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Autores principales:	Cao Thi Mien Thuy, Nguyen Vinh Khuong, Nguyen Thanh Liem
Formato:	article
Lenguaje:	EN
Publicado:	MDPI AG 2021
Materias:	corporate social responsibility firm risk emerging country Environmental effects of industries and plants TD194-195 Renewable energy sources TJ807-830 Environmental sciences GE1-350
Acceso en línea:	https://doaj.org/article/2ea7ad12f2ee453597be3fa7cfebe5bf
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spelling	oai:doaj.org-article:2ea7ad12f2ee453597be3fa7cfebe5bf2021-11-25T19:05:37ZCorporate Social Responsibility Disclosure and Its Effect on Firm Risk: An Empirical Research on Vietnamese Firms10.3390/su1322129332071-1050https://doaj.org/article/2ea7ad12f2ee453597be3fa7cfebe5bf2021-11-01T00:00:00Zhttps://www.mdpi.com/2071-1050/13/22/12933https://doaj.org/toc/2071-1050The purpose of the study was to gather empirical evidence on the influence of corporate social responsibility (CSR) disclosure on firm risk of Vietnam’s publicly listed companies. We used adjusted OLS estimation and regression analysis with adjusted panel data for heteroskedasticity and/or autocorrelation to analyze the correlation using data from 225 listed companies on Vietnam’s stock market from 2014 to 2019. The study’s sample period is relatively recent in the emerging market, especially considering regulatory differences and the availability of voluntary disclosure requirements. The findings of research on the relationship between CSR and corporate risk are mixed, particularly in developing markets. Research findings reveal a negative and significant association between CSR and firm risk, implying that stronger CSR performance lowers a company’s risk. This aims to strengthen a research perspective of this connection in emerging countries. Following that, we discuss some policy implications for listed firms and regulators in CSR disclosure.Cao Thi Mien ThuyNguyen Vinh KhuongNguyen Thanh LiemMDPI AGarticlecorporate social responsibilityfirm riskemerging countryEnvironmental effects of industries and plantsTD194-195Renewable energy sourcesTJ807-830Environmental sciencesGE1-350ENSustainability, Vol 13, Iss 12933, p 12933 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	corporate social responsibility firm risk emerging country Environmental effects of industries and plants TD194-195 Renewable energy sources TJ807-830 Environmental sciences GE1-350
spellingShingle	corporate social responsibility firm risk emerging country Environmental effects of industries and plants TD194-195 Renewable energy sources TJ807-830 Environmental sciences GE1-350 Cao Thi Mien Thuy Nguyen Vinh Khuong Nguyen Thanh Liem Corporate Social Responsibility Disclosure and Its Effect on Firm Risk: An Empirical Research on Vietnamese Firms
description	The purpose of the study was to gather empirical evidence on the influence of corporate social responsibility (CSR) disclosure on firm risk of Vietnam’s publicly listed companies. We used adjusted OLS estimation and regression analysis with adjusted panel data for heteroskedasticity and/or autocorrelation to analyze the correlation using data from 225 listed companies on Vietnam’s stock market from 2014 to 2019. The study’s sample period is relatively recent in the emerging market, especially considering regulatory differences and the availability of voluntary disclosure requirements. The findings of research on the relationship between CSR and corporate risk are mixed, particularly in developing markets. Research findings reveal a negative and significant association between CSR and firm risk, implying that stronger CSR performance lowers a company’s risk. This aims to strengthen a research perspective of this connection in emerging countries. Following that, we discuss some policy implications for listed firms and regulators in CSR disclosure.
format	article
author	Cao Thi Mien Thuy Nguyen Vinh Khuong Nguyen Thanh Liem
author_facet	Cao Thi Mien Thuy Nguyen Vinh Khuong Nguyen Thanh Liem
author_sort	Cao Thi Mien Thuy
title	Corporate Social Responsibility Disclosure and Its Effect on Firm Risk: An Empirical Research on Vietnamese Firms
title_short	Corporate Social Responsibility Disclosure and Its Effect on Firm Risk: An Empirical Research on Vietnamese Firms
title_full	Corporate Social Responsibility Disclosure and Its Effect on Firm Risk: An Empirical Research on Vietnamese Firms
title_fullStr	Corporate Social Responsibility Disclosure and Its Effect on Firm Risk: An Empirical Research on Vietnamese Firms
title_full_unstemmed	Corporate Social Responsibility Disclosure and Its Effect on Firm Risk: An Empirical Research on Vietnamese Firms
title_sort	corporate social responsibility disclosure and its effect on firm risk: an empirical research on vietnamese firms
publisher	MDPI AG
publishDate	2021
url	https://doaj.org/article/2ea7ad12f2ee453597be3fa7cfebe5bf
work_keys_str_mv	AT caothimienthuy corporatesocialresponsibilitydisclosureanditseffectonfirmriskanempiricalresearchonvietnamesefirms AT nguyenvinhkhuong corporatesocialresponsibilitydisclosureanditseffectonfirmriskanempiricalresearchonvietnamesefirms AT nguyenthanhliem corporatesocialresponsibilitydisclosureanditseffectonfirmriskanempiricalresearchonvietnamesefirms
_version_	1718410268406448128

Corporate Social Responsibility Disclosure and Its Effect on Firm Risk: An Empirical Research on Vietnamese Firms

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