Purpose The theoretical and empirical relationships between corporate social responsibility (CSR) and corporate financial performance are not without controversy. Yet, CSR activities are increasingly undertaken by a large number of firms, not only in developed countries but also in emerging countries. This paper aims to investigate the moderating effect of different aspects of corporate governance, which are foreign and state ownership, board size and board independence, on the relationship between CSR and financial performance. Design/methodology/approach A sample of Vietnamese listed firms is analyzed. Robust regression analysis is performed using ordinary least squares as well as fixed-effects and two-stage least squares model. Findings Ordinary least squares regression results show that CSR activities affect the financial performance of firms positively. Furthermore, corporate governance features like foreign ownership, board size and board independence strengthen the positive relationship between CSR and financial performance, but there is no such impact of state ownership. Originality/value Previous studies mostly investigate the direct effect of CSR on financial performance. A few studies examine the moderating effect of corporate governance, which is ownership concentration and board gender diversity. As an emerging country, Vietnam has some specific characteristics on corporate governance. This paper contributes by investigating the moderating effect of few major aspects of corporate governance, which are foreign and state ownership, board size and board independence.

PurposeThis study aims to investigate the relationship between corporate tax avoidance and stock price crash risk and the moderating effects of corporate governance.Design/methodology/approachThis study investigates the relationship between corporate tax avoidance and stock price crash risk using the sample consisting of listed firms in Vietnam for the period of 2011–2020 using panel regressions.FindingsThe authors find that there is a positive relationship between tax avoidance and stock price crash risk. Foreign ownership weakens the impacts of tax avoidance on stock price crash risk, while managerial ownership strengthens the impacts. Female Chief Executive Officers (CEOs) and female chairpersons weaken this relationship. Board gender diversity and state ownership have insignificant moderating impacts.Practical implicationsThese findings could help the stock market build better internal monitoring mechanisms to reduce the impacts of tax avoidance on future stock price crash risk. Investors can recognize the characteristics of corporate governance, especially foreign ownership, managerial ownership, female CEOs and female chairpersons when making investment decisions. The policy makers should consider policies to attract foreign investment and support women entrepreneurship.Originality/valueThis paper contributes to the literature on the impacts of tax avoidance on stock price crash risk in emerging countries. This paper is the first to investigate the influence of corporate governance mechanisms including state ownership, foreign ownership, female CEOs and chairpersons and board gender diversity on this relationship.

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PurposeClimate change increases systematic risk for firms, especially those in the agricultural industry. Therefore, the need to examine the consequences of climate-related risks on agribusiness companies' financial performance across the globe and emerging markets has risen. In this context, the paper aims to investigate the effects of climate change risks on the financial performance of agriculture listed firms in Vietnam.Design/methodology/approachThe study sample includes 77 Vietnamese listed firms in the agricultural industry in the period of 2015–2019. The authors chose temperature, wind, rainfall and humidity proxies to measure climate change. The OLS regression, random regression and sub-sample analysis have been used to examine the impacts of climate risks on firms' financial performance.FindingsEmpirical results show that rain and temperature have positive impacts on financial performance of Vietnamese agriculture listed firms, while wind and humidity have insignificant impacts on financial performance.Research limitations/implicationsThe research helps researchers, businesses, practitioners and policymakers interested in the agricultural industry, especially those in developing and emerging countries, to develop a deep understanding of the impact of climate change risks on firm performance and therefrom prepare necessary measures to reduce the negative impacts.Originality/valueThis study adds to the literature stream on the impacts of climate change on financial performance. It is the first study to investigate this impact in Vietnam, a country which depends mainly on agriculture.

Along with the trend of applying business governance in Vietnamese public higher education institutions, agency problems become an important issue that the public higher education institutions have to face. There are many ways to reduce agency problems, and one of them is to take advantage of the internal audit system. The paper reviews the literature on the relationship between agency theory and internal audit in public higher education institutions, which is quite rare. This study analyzes the case of Vietnam, a country where university governance system has had a lot of changes in recent times with the development of autonomy mechanism. The research raises the importance of internal audit function in university governance and provides policy implications for regulators and university administrators by adopting internal audit to reduce agency problems.