Factors Affecting Voluntary Information Disclosure on Annual Reports: Listed Companies in Ho Chi Minh City Stock Exchange

Abstract

The study aims to provide some plausible explanation for why Vietnamese listed companies only stop at the level of truthful presentation of information related to accounting data through the opinion of independent auditors. The information is only at the level of compliance with the requirements of Circular 155/2015/TT-BTC in form, but in essence is sketchy. What factors affect the level of voluntary disclosure of listed companies in Vietnam? In order to identify the factors affecting voluntary information disclosure on annual reports of listed companies, the study collected data on annual reports of 122 companies listed on the stock market in Ho Chi Minh City in the period 2015-2018 and uses regression analysis methods. The research presents 8 factors affecting the level of voluntary information disclosure including: Firm size, Listed time, Profitability, Solvency, Separation of board of directors and executive director, Board size, Organizational ownership and Foreign ownership. Next, the study conducted descriptive statistical analysis correlation coefficient analysis to examine the correlation and relevance of independent variables measured by the scale ratio, testing multiple linear regression model. The results of the study show that factors listed time, profitability and organizational ownership affecting voluntary information disclosure on annual reports of listed companies in Vietnam.

Determinants Influencing Information Transparency in Vietnamese Commercial Banks

“…When banks have satisfactory business results, these information are widely published on mass media. Wallace & Naser (1995), Nguyen (2015.…”

“…In addition, highprofit firms often receive more attention from state management agencies. Therefore, they usually try harder to disclose transparent information in their reports to explain their financial achievements (Nguyen, 2015). This study, therefore, hypothesizes that: their own opinions about what determinants contribute to such good or poor information transparency.…”

“…Commercial banks often publicize independent audit reports together with their financial statements as an inseparable part of annual reports or financial statements. Although the preparation and presentation of financial statements are the responsibilities of the management of the audited banks, the auditing results revealed by the outsourced auditing agencies may affect the amount of information disclosed (Nguyen, 2015).…”

“…Modern technical facilities will allow quick and complete information disclosure in which advanced technology will help ensure the safety and security of information as well as reduce the time spent for information processing process (Nguyen, 2015). In addition, the finding from interviews added that IT infrastructure of the governmental bodies and local authorities, especially those are directly related to publicity and transparency of commercial banks' information, also affect banks' information transparency.…”

The Role of Government Regulations in Enhancing Corporate Social Responsibility Disclosure and Firm Value

“…The disclosure of CSER is one of the company's efforts to provide more extensive information than is required by laws and regulations to send a positive signal that they are obedient to the regulations (Campbell, 2000;S. L. Nguyen et al, 2020;T. M. H. Nguyen et al, 2020).…”