Corporate Social Responsibility Disclosure and Financial Performance: The Mediating Role of Financial Statement Comparability

Sustainability

卷:13

Nguyen Thanh Liem¹  Cao Thi Mien Thuy¹  Nguyen Thi Canh¹  Nguyen Vinh Khuong² 

[1] Faculty of Finance and Banking, University of Economics and Law, Ho Chi Minh City 700000, Vietnam;

[2] Vietnam National University, Ho Chi Minh City 700000, Vietnam;

关键词: corporate social responsibility disclosure;    financial statement comparability;    financial performance;    mediation effect;   

DOI  :  10.3390/su131810077

来源: DOAJ

【 摘 要 】

The aim of this study is to investigate the relationship between corporate social responsibility (CSR) disclosure and financial performance with the consideration of the mediating role of financial statement comparability (FSC) for a sample of Vietnamese listed firms. We used content analysis of the information related to the GRI Standards on annual reports in order to construct CSR disclosure score. We used a dataset of 1125 firm-year observations, covering 225 firms listed on Vietnam’s stock market in the period 2014–2018. Applying OLS and GMM estimation methods, Sobel test, and using different proxies of the mediator variable to increase the robustness, we obtained two remarkable conclusions. First, CSR disclosure has a positive impact on the financial performance of listed companies in Vietnam. Second, there is a complementary mediation effect of financial statement comparability in the above relationship. Our results suggest that it is necessary to develop a legal framework for the practice and disclosure of CSR as well as to apply the international accounting standards in the Vietnamese stock market.

【 授权许可】

Unknown