Factors Affecting Information Disclosure: Evidence from Vietnamese Listed Companies

Abstract

The stock exchanges increasingly have strict regulations on information disclosure of listed companies. Disclosure of information helps meet the necessary conditions prescribed by the floor, but information disclosure also brings higher value to companies. Therefore, this study analyzes the factors affecting the disclosure of enterprise segment reporting information in Vietnam. Data was collected with 48 companies listed on HOSE and HNX (two stock exchanges in Vietnam) from 2015 to 2019. Through the Generalized Method of Moments (GMM) model, it has been shown that the factors of audit units, business lines, and exchanges positively impact the level of disclosure of segment financial statements. The factor of profit ROA has a negative impact on the level of information disclosure of enterprises. From the results of this study, the authors also offer some research implications to help investors and companies make their decisions positively.