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    Determinants of voluntary disclosure for Vietnamese listed firms

    188059_Vu2012.pdf (3.142Mb)
    Access Status
    Open access
    Authors
    Vu, Kelly Bao Anh Huynh
    Date
    2012
    Supervisor
    Prof. Glennda Scully
    Prof. Greg Tower
    Type
    Thesis
    Award
    PhD
    
    Metadata
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    School
    School of Accounting
    URI
    http://hdl.handle.net/20.500.11937/2181
    Collection
    • Curtin Theses
    Abstract

    Using a positivist empirical approach, this thesis extends the existing literature by examining the Vietnamese accounting and financial reporting environment using contemporary data.Regression analysis reveals some interesting characteristics of Vietnamese listed firms. Vietnamese listed firms have a moderately average proportion of independent directors on their corporate boards (53.89 per cent), a high level of state ownership (26.63 per cent), a moderate level of managerial ownership (12.77 per cent) and a relatively low level of foreign ownership (9.80 per cent).Regression analysis results provide support for the juxtaposition of agency theory in explaining the variations of Vietnamese voluntary disclosure practices. In particular, the evidence reveals that a firm’s voluntary disclosure practice is positively influenced by the strength of their corporate governance (the proportion of independent directors on corporate boards). High state ownership, which is a unique feature of Vietnamese listed firms, has a significant and negative association with the extent of voluntary disclosure. Whilst a higher proportion of managerial ownership reduces the extent of voluntary disclosure, foreign ownership has no impact on such practice. Firm size, profitability, type of industry, auditing firms, listing duration and stock exchange location are important attributes associated with voluntary disclosure in Vietnamese annual reports.Evidence from this thesis suggests that corporate governance can serve as an effective monitoring mechanism to enhance the level of information disclosure in Vietnam. Such findings encourage Vietnamese policy makers to adopt stronger corporate governance mechanisms to improve the level of information transparency. The negative influence of state ownership on the extent of Vietnamese voluntary disclosure offers valuable insights into Vietnam’s future privatization plans. Moreover, the negative relationship between managerial ownership and voluntary disclosure practices enhances the understanding of the entrenchment problem of managerial ownership, particularly in an emerging market.Overall, the empirical results of this thesis not only contribute to the extant literature, but also provide helpful insights for policy makers in Vietnam as they strive to improve corporate information transparency.

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    • Corporate communication for Vietnamese listed firms
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      The purpose of this study is to investigate the extent of voluntary disclosures between 2006 and 2009 that transcends major regulatory and governance changes in Malaysia and to assess the association between strength of ...
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