The Impact of ESG Disclosure on the Business Performance of Non-Financial Firms in Vietnam (2020–2024)
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DOI:
https://doi.org/10.63640/3030-4091/jpd.apd.149Từ khóa:
ESG, disclosure, ROA, ROE, non-financial enterprisesTóm tắt
This study examines the impact of ESG disclosure on the financial performance of non-financial listed companies in Vietnam during 2020–2024. Unlike prior studies that mainly focus on aggregate ESG scores, this research highlights the novelty of measuring the effects of ESG disclosure score (Environmental, Social, Governance) and comparing across high-risk industries. The dataset covers 250 firms in the Real Estate, Industry, Energy, Materials, and Consumer sectors, analysed using panel regression. Findings reveal heterogeneous impacts: ESG disclosure shows strong positive effects in Real Estate and Non-essential Consumer sectors, a negative effect in Materials, and no significant influence in Energy and Essential Consumer sectors. These results provide sector-specific insights, suggesting that ESG practices can both create value and expose risks depending on industry context. Accordingly, the study offers practical policy recommendations to improve ESG disclosure quality and support Vietnam's sustainable development and Net Zero 2050 agenda.
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