Abstract
Analysing the nexus between board diversity, CEO power, state holding, and corporate social responsibility disclosure in an emerging country: Vietnam, where some listed firms are held significantly by the State, is the fundamental objective of this study. In order to achieve this goal, we employed regression analysis using panel data. While board diversity consists of board gender diversification and board independence and CEO (executive) power, consisting of executive duality, executive holding (ownership), and deputy CEO, and state ownership are explanatory variables, and CSR disclosure is a dependent variable. The sample contains of 166 Vietnamese listed firms at the Hanoi Stock Exchange (HNX) for 2014−2016. After performing regression analysis, the result revealed that the proportion of female directors, deputy CEO, and state holding had a significant correlation with CSR publication. In contrast, the proportion of independent directors, CEO duality, and CEO ownership was found to be insignificant. Our research adds to the research on firm governance and CSR in several approaches. First, the paper adds to the study on the advancement of research toward corporate social responsibility and firm governance and CEO features impress on it. Second, our research expands CSR literature in developing countries, which has not been treated in detail. Fourth, this research advances and adds literature to some theories, including agency theory and resource-based view theory.
Highlights
Corporate social responsibility (CSR) concept is attracting business consideration at both national and international levels
CSR disclosure data was taken from annual, standalone reports, and firm websites provided by the R&D department of the Hanoi Stock Exchange
This study showed that the duality is not a main variable in the CSR disclosure, CEO duality is seen to be negative but it is insignificant in situation of Vietnamese listed companies
Summary
Corporate social responsibility (CSR) concept is attracting business consideration at both national and international levels. CSR can be defined by words that constitute the term CSR. CSR is the obligation of business (all types of enterprises) for what is caused by their activities, which impact on their stakeholders, including “communities, nations, the world, other living organisms, and the natural environment” (Tran & Pham, 2020). Many scholars have argued that social responsibility strategic improves enterprise reputation. It helps enterprises carry out more favorable investment procedures, increase labor productivity, sales revenue, raise prestige and trademark, and attract more laborers. CSR has become a critical business strategy for many enterprises in the world
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