Thanh Thanh Thi Hoang and Huu Cuong Nguyen
This paper aims to measure the COVID-19-related disclosure extent of listed firms in Vietnam and its associated factors.
Abstract
Purpose
This paper aims to measure the COVID-19-related disclosure extent of listed firms in Vietnam and its associated factors.
Design/methodology/approach
The authors apply a previously developed reporting framework to evaluate the disclosures of 100 listed firms with the largest market capitalization on the Hanoi and Ho Chi Minh stock exchanges as of 31 December 2021. The disclosures were from integrated reports, annual reports, corporate governance reports and financial statements. The authors then used a regression model to examine the factors that influenced the disclosures, such as corporate governance, ownership concentration and firm profiles.
Findings
The research results reveal that the extent of COVID-19-related disclosure in Vietnam is relatively low. It also finds that the audit committee, firm size, age and industry are positively associated with the extent of COVID-19-related disclosure.
Originality/value
To the best of the authors’ knowledge, this study is the first to examine COVID-19-related disclosures of listed companies in Vietnam and their determinants. It contributes significantly to the empirical evidence in this field. The findings of this study can help corporate managers and policymakers to improve information disclosure practices during future financial crises.
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Thanh Thi Hoang and Huu Cuong Nguyen
This study aims to investigate whether the extent of corporate disclosure, proxied by COVID-19-related disclosure, affects the dividend policy of listed firms.
Abstract
Purpose
This study aims to investigate whether the extent of corporate disclosure, proxied by COVID-19-related disclosure, affects the dividend policy of listed firms.
Design/methodology/approach
The study uses a multinomial logistic regression model to examine the relation between corporate disclosure and the dividend policy of the 100 largest market-cap firms in Vietnam in 2021. The COVID-19 pandemic, with its unique impact on business operations, serves as the backdrop for this analysis.
Findings
The findings indicate that firms with more extensive COVID-19-related disclosure are more inclined to distribute dividends in the form of stocks or cash instead of omitting them.
Originality/value
This research contributes to the understanding of how corporate disclosure practices influence a firm’s financial decisions, particularly in the context of the COVID-19 pandemic. The findings hold implications for corporate financial decision-making during times of macroeconomic shock.
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Huu Cuong Nguyen and Hien Khanh Duong
The purpose of this study is to assess the extent of Sustainable Development Goals (SDGs) disclosures among Vietnamese listed firms and identify key influencing factors.
Abstract
Purpose
The purpose of this study is to assess the extent of Sustainable Development Goals (SDGs) disclosures among Vietnamese listed firms and identify key influencing factors.
Design/methodology/approach
The authors analyse SDG-related disclosures of the top 100 listed firms by market capitalisation on the Hanoi and Ho Chi Minh stock exchanges as of December 31, 2023, using an established reporting methodology. Data were sourced from annual, corporate governance, ESG, financial and sustainability reports. A regression model was used to examine factors influencing SDG disclosure.
Findings
SDG disclosure among Vietnamese firms is relatively low. Corporate governance, firm size, government ownership, industry and Global Reporting Initiative (GRI) usage positively influence disclosure levels, while auditing firm type and firm age show a negative association. Financial firms tend to use sustainable development reports and GRI indicators more frequently.
Practical implications
Practically, strengthening governance frameworks and promoting GRI adoption can improve the quality and extent of sustainability reporting among Vietnamese firms. Socially, enhanced SDG disclosure supports improved corporate practices that align with the United Nations SDGs, fostering a more sustainable and transparent economy in Vietnam.
Originality/value
To the best of the authors’ knowledge, this is the first study examining SDG disclosure and influencing factors in Vietnamese listed (2021–2023), using the GRI (2016) standard. This study contributes to transparency in Vietnam’s financial markets and sustainability practices, offering insights for preparers and policymakers.
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Huu Cuong Nguyen, Colin Evers and Stephen Marshall
The purpose of this paper is to investigate the development of Viet Nam’s approach to higher education quality assurance during the past dozen years since its establishment…
Abstract
Purpose
The purpose of this paper is to investigate the development of Viet Nam’s approach to higher education quality assurance during the past dozen years since its establishment, focusing on the achievements and challenges.
Design/methodology/approach
This is a desktop analysis study. The paper analyses the policies and practices related to the development of Viet Nam’s higher education accreditation system by reviewing associated literature.
Findings
The research has found out that there are several achievements, including: the development of the accreditation framework; establishment of accrediting agencies; completion of almost universities’ self-assessment reports; implementation of external assessment exercise at some institutions, a few of which were awarded accreditation certificates. However, there remain a number of challenges related to the independence of the accrediting agencies, human resources, accreditation standards and criteria, institutions’ awareness about accreditation and the pace of accreditation implementation.
Research limitations/implications
The primary limitation of this study is the research methodology which merely relies on document analysis. It would be more credible if the findings could be triangulated with data taken from other sources such as interviews with key stakeholders.
Originality/value
On the basis of the analysis of achievements and challenges at both macro and micro levels, discussion and recommendations are made for future policy-making and management in the field of higher education accreditation.
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Huu Cuong Nguyen and Hien Khanh Duong
This study aims to investigate the relationship between sustainability reporting and the cost of capital among Vietnamese firms using the Global Reporting Initiative (GRI…
Abstract
Purpose
This study aims to investigate the relationship between sustainability reporting and the cost of capital among Vietnamese firms using the Global Reporting Initiative (GRI) standards.
Design/methodology/approach
Using a sample of the 100 largest firms by market capitalisation listed on the Hanoi and Ho Chi Minh stock exchanges as of 31 December 2023, this study applies regression models to examine how sustainability disclosure influences the cost of debt (COD), cost of equity (COE) and the weighted average cost of capital (WACC) over the period from 2021 to 2023.
Findings
The findings indicate a significant negative relationship between sustainability disclosure and the COD, COE and WACC, with environmental-related sustainability development goals (SDGs) disclosures having the most substantial impact. These results highlight the critical role of transparency in reducing information asymmetry and agency costs, ultimately lowering the cost of capital.
Research limitations/implications
This study extends stakeholder and signalling theories by demonstrating how sustainability disclosure affects both shareholders and creditors in a developing economy.
Practical implications
This study provides actionable insights for corporate managers and financial institutions on how sustainable development practices can enhance access to capital at more favourable rates. Policymakers and banks are encouraged to implement green finance initiatives to promote sustainability further.
Social implications
As Vietnam strives to combat climate change, this research underscores the importance of sustainable practices in building trust with investors and lenders.
Originality/value
To the best of the authors’ knowledge, this study offers one of the first comprehensive examinations of the link between sustainability reporting and capital costs in Vietnam, offering important empirical evidence for academics and practitioners.
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Huu Cuong Nguyen, Phan Minh Hoa Nguyen, Bich Hiep Tran, Thi Thien Nga Nguyen, Le Thanh Thuy Hoang and Thi Thu Hien Do
This paper aims to examine the levels of integrated reporting disclosure alignment in annual reports by listed firms in Vietnam and the factors influencing these disclosure levels.
Abstract
Purpose
This paper aims to examine the levels of integrated reporting disclosure alignment in annual reports by listed firms in Vietnam and the factors influencing these disclosure levels.
Design/methodology/approach
Drawing on a sample of 200 listed firms in Vietnam in 2017, the authors constructed a disclosure index based on the content of the International Integrated Reporting Committee (IIRC) Framework. Using this index, the study measures the extent to which Vietnamese listed firms’ annual reports include the content elements required by the integrated reporting (IR) Framework. The study performs ordinary least square regression to investigate the influencing factors.
Findings
The study documents that, on average, Vietnamese listed firms disclose about 43% of the information required by the IIRC Framework. The disclosure levels are positively associated with manufacturing firms, board independence, foreign ownership, government ownership, audit quality and firm size.
Originality/value
Integrated reports have been widely adopted in many countries, but it is still a new issue in Vietnam. This is the first paper providing some insights into the inclusion of the content elements required by the IR Framework by listed firms in Vietnam. It also contributes to the disclosure literature by providing empirical evidence on the factors influencing these disclosure levels. Deriving from the findings, the authors offer recommendations for policymakers on the issue of regulating and implementing IR in Vietnam.
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This paper aims to determine how quality assurance practitioners in Vietnam describe their levels of professional knowledge and related skills, as well as identifying factors that…
Abstract
Purpose
This paper aims to determine how quality assurance practitioners in Vietnam describe their levels of professional knowledge and related skills, as well as identifying factors that interfere with the development of these skills.
Design/methodology/approach
Semi-structured were conducted with 22 quality assurance practitioners who were directly involved in quality assurance policy-making and implementation.
Findings
Thematic analysis identified that internal challenges for quality assurance staff were mostly related to their lack of knowledge, skills and experience in this area. Limited capacity in English communication was also reported as a major challenge for Vietnamese quality assurance specialists.
Originality/value
The paper concludes that regular capacity-building programmes can help quality assurance staff gain the necessary knowledge and skills to improve their work performance.
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This study aims to examine the levels of interim financial reporting (IR) disclosure by listed firms in the Asia-Pacific region and factors influencing these disclosure levels.
Abstract
Purpose
This study aims to examine the levels of interim financial reporting (IR) disclosure by listed firms in the Asia-Pacific region and factors influencing these disclosure levels.
Design/methodology/approach
Drawing on a sample of 700 interim reports issued in 2012 by the top 100 listed firms in seven Asia-Pacific countries (Australia, Hong Kong, Malaysia, Singapore, the Philippines, Thailand and Vietnam), the author constructed a disclosure index consisting of disclosure items commonly required across the sample countries. Using this index, the study measures the extent to which listed firms in the Asia-Pacific Region comply with IR disclosure requirements. The study performs ordinary least square regression to investigate the influence of the four country-level factors including international financial reporting standard (IFRS) adoption, audit review, reporting frequency and reporting lag.
Findings
This research documents that IR disclosure varies significantly across the region. The IR disclosure levels are positively associated with IFRS adoption, audit review and mandatory of quarterly reporting, but negatively associated with reporting lag.
Originality/value
IR regulation varies across the Asia-Pacific region, but there is no existing research on the country-level factors influencing IR disclosure practices. To the best of the author’s knowledge, this is the first paper providing some insights into IR disclosure levels by listed firms in the region. It also contributes to the disclosure literature by providing empirical evidence on the country-level factors influencing these disclosure levels. Deriving from the findings, the authors offer recommendations for regulators, investors and listed firms on the issue of reviewing the regulation, using information and preparing IR.
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Viet Anh Hoang, Huu Cuong Nguyen, Ba Thanh Truong, Phuong Uyen Le, Hoang Long Phan and Thi Hong An Thai
Using a substantial sample of U.S.-listed firms’ Seasoned Equity Offerings (SEOs) spanning the period from 2012 to 2017, we examine the relationship between hierarchical…
Abstract
Purpose
Using a substantial sample of U.S.-listed firms’ Seasoned Equity Offerings (SEOs) spanning the period from 2012 to 2017, we examine the relationship between hierarchical complexity and the selection of SEO methods.
Design/methodology/approach
We employ multinomial logistic regression to examine the influence of hierarchical complexity on the choice among various SEO techniques. To strengthen the robustness of our results, we employ a two-stage-least-squares (2SLS) analysis and utilize propensity score matching to address potential endogeneity issues and mitigate self-selection bias, respectively.
Findings
The research indicates that companies characterized by high levels of hierarchical complexity tend to steer clear of accelerated offerings but exhibit a preference for rights offerings over firm commitment offerings. This tendency is plausibly attributed to the impact of hierarchical complexity, which diminishes information transparency and heightens information asymmetry. Furthermore, the study highlights a negative association between hierarchical complexity and firm value following SEOs.
Originality/value
While an expanding body of evidence establishes a connection between hierarchical complexity and various firm- or market-specific activities, to the best of our knowledge, there are no specific empirical studies that have investigated how hierarchical complexity impacts equity offering strategies. Building on the established correlation in previous research between hierarchical complexity, information transparency, and asymmetric information, and recognizing the critical role of information in the selection of SEO methods, our study reveals that hierarchical complexity may diminish information transparency, heighten information asymmetry, and hinder outside investors from fully grasping a firm’s actions and outcomes. Consequently, this influence extends to the methods of offerings chosen by listed companies.
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Tho Huu-Hoang Nguyen, Tri Minh Ha, Cuong H. Nguyen Dinh and Sinh Duc Hoang
This study explores the dynamics of companies’ green knowledge sharing (GKS) within the tourism sector, focusing on its influence on green electronic word-of-mouth (eWOM…
Abstract
Purpose
This study explores the dynamics of companies’ green knowledge sharing (GKS) within the tourism sector, focusing on its influence on green electronic word-of-mouth (eWOM) intention via the mediation of tourists’ green engagement behaviour. Additionally, the study considers the moderating effects of green destination psychological ownership and perceived injunctive norms of green self-expression online on the pathway from green knowledge sharing to tourists’ green engagement behaviour to green eWOM.
Design/methodology/approach
The primary dataset, consisting of 902 valid responses obtained through time-lagged surveys administered to environmentally conscious tourists, was analysed using structural equation modelling (SEM) by PROCESS package for R.
Findings
Findings indicate that green destination psychological ownership enhances the mediation effect of tourists’ green engagement behaviour on green eWOM intention, reinforcing the sense of personal investment and belonging among tourists. Conversely, perceived injunctive norms of green self-expression online moderate this pathway by shaping the social norms and acceptability of green behaviours online.
Practical implications
To effectively spread green knowledge, tourism businesses should focus on enhancing tourists' psychological ownership of green destinations and align their communications with the perceived norms of green expression online. This strategy not only deepens tourists' environmental commitment but also stimulates active participation in spreading sustainable practices.
Originality/value
This study contributes to the green marketing literature by revealing how intrinsic and extrinsic motivational factors interact to influence green engagement and eWOM intention in the tourism industry, aiding marketers in strategically fostering green value co-creation and enhancing sustainable practices through targeted green knowledge sharing.