Determinants of ESG Disclosure Transparency among Listed Firms: Evidence from Vietnam
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Abstract
We investigate factors relating to the environmental, social, and corporate governance (ESG) information disclosure level of listed firms in Vietnam and perform robustness checks to confirm the results. Based on a dataset of Vietnamese listed firms during 2015-2021, we find that firms that behave well on environmental issues (proxied by having environmental certification) and receive foreign capital tend to report ESG information with more transparency and details. We proceed with proposing some explanatory mechanisms, based on which some policy and research implications are drawn. Overall, this paper enriches the literature on ESG disclosure transparency and, more generally, performance on ESG standards by providing preliminary evidence that stretches the role of incentives and due diligence.