The Influence of Board Characteristics and State Holding on Corporate Social Responsibility Disclosure, Evidence From Vietnamese Listed Firms

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.

Düzenleyici Değişken Olarak Yönetim Kurulu Çeşitliliği ile Kurumsal Sosyal Sorumluluk Açıklamasının Değer Uygunluk Analizi

“…The better and more relevant the information presented will have a good influence on market reactions because, generally, the results show that more robust CSR reporting performance reduces adverse reactions (Wans, 2020). However, based on research conducted by Matitaputty & Davianti (2020); Nguyen et al (2021), gender diversity in the board of directors does not affect the quality of reporting disclosures to companies.…”

“…The board of directors is one of the vital points in the company's problems that require them to have a role in decision making and policy making related to corporate social responsibility (Nguyen et al, 2021). Diversity of directors is something that is needed in the composition of the directors of a company.…”

Masa Jabatan CEO, Keragaman Dewan Direktur, dan Pengungkapan CSR: Eksplorasi Studi Kepustakaan

“…Pengungkapan laporan CSR (Corporate Social Responsibility) merupakan bentuk tanggung jawab perusahaan guna menginformasikan aktivitas sosial, lingkungan, dan tata kelola kepada pemangku kepentingan (Stakeholder). Dengan menginformasikan seluruh kegiatan bisnisnya, perusahaan tidak hanya bertanggung jawab kepada pemegang saham untuk memaksimalkan nilai perusahaan tetapi juga berperan penting dalam mensinergitas kepentingan masyarakat, lingkungan, dan sosial lainnya (Nguyen, et al, 2021). Tanggung jawab sosial perusahaan (Corporate Social Responsibility) merupakan bentuk komitmen perusahaan demi memberikan kontribusi pada pembangunan ekonomi yang berkelanjutan (Sustainability Economic Development), peningkatan pada kualitas kehidupan tenaga kerja (Improving Labor Quality), penguatan ekosistem sosial (Social Ecosystem Strangthening), dan pemberdayaan masyarakat (Society Empowerment) atas dampak negatif yang ditimbulkan oleh aktivitas bisnis perusahaan (Brooks & Oikonomou, 2018).…”

Analisis Nilai Relevansi Pengungkapan Corporate Social Responsibility Dengan Diversitas Direksi Sebagai Variabel Moderasi

“…Dewan direksi adalah salah satu poin vital yang ada pada permasalahan perusahaan yang menuntut mereka untuk bisa memiliki peranan di dalam pengambilan keputusan dan pembuatan kebijakan yang berhubungan dengan tanggung jawab sosial perusahaan (Nguyen, Tran, & Vu, 2021). Diversitas direksi merupakan suatu hal yang dibutuhkan pada komposisi direksi sebuah perusahaan.…”

“…Semakin baik dan relevan informasi yang disajikan maka akan memberikan pengaruh yang baik pada reaksi pasar karena secara umum, hasil menunjukkan bahwa kinerja pelaporan CSR yang lebih kuat mengurangi reaksi negatif (Wans, 2020). Namun, berdasarkan penelitian yang dilakukan oleh (Matitaputty & Davianti, 2020;Nguyen et al, 2021), diversitas gender pada direksi tidak mempengaruhi kualitas pengungkapan laporan pada perusahaan. Sehingga hubungan pengaruh diversitas gender terhadap pengungkapan Corporate Social Responsibility dengan nilai relevansi dirumuskan dengan hipotesis sebagai berikut:…”