Factors Affecting the Social Responsibility Declaration Activities of Joint Stock Companies in the Consumer Goods Industry in Vietnam

Abstract

Objective: The article points out that there are nine factors that affect the social responsibility declaration activities of enterprises.   Research method: The article uses qualitative methods combined with quantitative methods, through an investigation of 127 joint stock companies in the consumer goods industry on the HOSE, HNX and UpCom exchanges in the period 2018-2020, the method purposive stratified random sampling method. The survey results were used to synthesize and analyze the results of the OLS linear regression model.   Research results: the authors estimated and tested the correlation of 9 factors affecting corporate social responsibility declaration activities in descending order including: (1) Audit quality, ( 2) Number of meetings of the board of directors, (3) Size of the enterprise, (4) Concurrentity of the Chairman of the Board of Directors, (5) Age of the enterprise, (6) Percentage of female members on the Board of Directors,( 7) Profit ratio of the Enterprise, (8) Independence of Board members, (9) Financial leverage.   Discussion of research results: Completing the legal framework for social responsibility declaration activities in Vietnam. Strictly handle violations of information disclosure activities on the stock market. Increase this administrative fine by a fine calculated based on the percentage of violation level for each information disclosure category to deter violations.