Corporate social responsibility disclosure and financial performance : empirical evidence from Vietnam

Tran, Nguyen T. (avtor), Le, Nhung T. (avtor), Nguyen, Tung D. (avtor)

This study examines the relationship between corporate social responsibility (CSR) disclosure and firm performance, with particular attention to CSR’s role as a mitigating mechanism during periods of economic crisis, notably the COVID-19 pandemic. Utilizing a unique hand-collected dataset comprising CSR disclosures from Vietnamese publicly listed firms in the VNR500 index between 2014 and 2021, the analysis employs both accounting-based (return on equity) and market-based (Tobin’s Q) performance indicators. The empirical findings indicate a positive association between CSR disclosure and firm performance across both measures. Disaggregated analysis reveals that governance-related disclosures significantly enhance market valuation, whereas the presence of a well-articulated CSR vision and strategic orientation correlates positively with accounting profitability. These results suggest that robust governance frameworks, environmental stewardship, and socially responsible product strategies contribute to superior firm outcomes. Moreover, the study provides empirical support for the conceptualization of CSR as an insurance like mechanism that mitigates the adverse effects of external shocks—such as the COVID-19 pandemic—by preserving firm value and protecting shareholder interests.

• Jezik: Angleški jezik
• Ključne besede: enterprises, social responsibility, pandemic, business efficiency, CSR disclosure, financial performance, COVID-19, Vietnam
• Vrsta gradiva: Članek v reviji
• Tipologija: 1.01 - Izvirni znanstveni članek
• Organizacija: EF - Ekonomska fakulteta
• Status publikacije: Objavljeno
• Različica publikacije: Objavljena publikacija
• Leto izida: 2025
• Št. strani: Str. 141-159
• Številčenje: Vol. 27, iss. 3, article no. 2
• PID: 20.500.12556/RUL-173288
• UDK: 330.3
• ISSN pri članku: 2335-4216
• DOI: 10.15458/2335-4216.1357
• COBISS.SI-ID: 248426755
• Datum objave v RUL: 15.09.2025

Gradivo je del revije

• Naslov: Economic and business review
• Založnik: Univerza v Ljubljani, Ekonomska fakulteta
• ISSN: 2335-4216
• COBISS.SI-ID: 268649216

Licence

• Licenca: CC BY 4.0, Creative Commons Priznanje avtorstva 4.0 Mednarodna
• Povezava: http://creativecommons.org/licenses/by/4.0/deed.sl
• Opis: To je standardna licenca Creative Commons, ki daje uporabnikom največ možnosti za nadaljnjo uporabo dela, pri čemer morajo navesti avtorja.

Sekundarni jezik

• Jezik: Slovenski jezik
• Ključne besede: Vietnam, podjetje, družbena odgovornost, pandemija, uspešnost poslovanja

Projekti

• Financer: Drugi - Drug financer ali več financerjev
• Številka projekta: DTDLCN 38/22
• Naslov: Using a computational general equilibrium model to assess the impact of drought and saltwater intrusion on economic development in the Mekong Delta region