Study Factors Affecting the Level of Information Disclosure of Vietnamese Enterprises

Abstract

This study explores the status of information disclosure and the factors affecting the disclosure of information in the annual report of listed companies in the stock market of Vietnam This study uses a combination of weighting methods, assessing the level of published information of each criterion to measure the level of information disclosure both in terms of quantity and quality. The authors use a combined approach to measure the level of disclosure in the annual report of 289 enterprises in Vietnam. In which, the authors use to test the parameters and non-parametric testing of the level of disclosure of information under the industry and according to Big4 auditing firms. At the same time, in this research, the authors apply the OLS regression and quantile regression model to examine the effect of each factor on the level of information disclosure. Research shows that the level of disclosure in the annual report is 58.57%. The research has identified four factors that affect the level of disclosure: independent audit, enterprise size, profitability, financial leverage. However, there are two factors that do not affect the level of disclosure: the number of members of the board of directors and the Chairman & General Director. This result will suggest some recommendations to help businesses, agencies to improve the level of information disclosure.