Does the board of directors have a decisive role in disclosing social responsibility? Evidence in Vietnamese enterprises

Tóm tắt

This study investigates the impact of board characteristics on Vietnamese enterprises’ corporate social responsibility disclosure. Data was collected from the reports of 203 enterprises listed on the Ho Chi Minh City and Hanoi Stock Exchanges. The results show that the proportion of independent members, the board size and total number of female members on the board of directors (BOD), the ownership ratio of the BOD, and the proportion of shares held by the BOD positively impact the decision to disclose corporate social responsibility. Besides, enterprises with CEOs who also hold the position of member of the board or have an audit committee are more likely to disclose corporate social responsibility than those with CEOs who do not hold the position of chairman of the board or do not have an audit committee. In particular, the larger the number of board members and the appearance of CEO duality, the lower the likelihood of disclosing corporate social responsibility compared to enterprises with CEOs who do not hold the position of chairman of the board. Compared to previous years, in 2022, enterprises with the same ownership ratio of the BOD are still more likely to disclose corporate social responsibility than other enterprises.