The Impact of Corporate Governance Mechanism, Company Characteristics on the Timeliness of Financial Statements: Evidence from Listed Companies in Vietnam

Abstract

This study aims to determine the factors affecting the timeliness of financial statements from the perspective of company characteristics and corporate governance mechanism. We examined the panel data from financial statements and annual reports of 172 Vietnamese companies listed on HOSE and HNX from 2014 to 2020 and found that company size had a negative impact on the timeliness of financial statements, while profitability had a positive impact. Besides, the findings also showed that board ownership and audit quality had a negative impact on the timeliness of financial statements. Our findings were derived from Bayesian analysis, which was first used in studies related to the timeliness of financial statements. On the basis of our findings, we offer several governance implications for stakeholders.
 
 Received: 7 November 2021 / Accepted: 31 January 2022 / Published: 5 March 2022

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