SỐ 192 | THÁNG 3/2022
Tác động của trách nhiệm xã hội đến rủi ro kiệt quệ tài chính doanh nghiệp niêm yết tại Việt Nam
Trần Triệu Anh Khoa
Tóm tắt:
Bài nghiên cứu kiểm định tác động của trách nhiệm xã hội (TNXH) đến rủi ro kiệt quệ tài chính của các doanh nghiệp niêm yết tại Sở Giao dịch Chứng khoán Thành phố Hồ Chí Minh (HOSE). Mẫu nghiên cứu sử dụng gồm 294 doanh nghiệp phi tài chính niêm yết trong giai đoạn 2016–2020. Nghiên cứu sử dụng mô hình OLS cùng với các kiểm định xử lý các vấn đề của mô hình hồi quy. Kết quả nghiên cứu cung cấp các bằng chứng thực nghiệm cho thấy TNXH có tác động ngược chiều và có ý nghĩa thống kê đến rủi ro kiệt quệ tài chính. Nói một cách khác, việc thực hiện TNXH góp phần giúp doanh nghiệp hình thành các cơ chế quản lý rủi ro, qua đó tác động làm giảm thiểu rủi ro kiệt quệ tài chính. Kết quả này đặc biệt quan trọng bởi vì mục tiêu phát triển bền vững thể hiện qua hoạt động TNXH của doanh nghiệp đã và đang định hình xu thế quản trị rủi ro mới cho các doanh nghiệp niêm yết tại Việt Nam.
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Impact of Corporate Social Responsibility on Financial Distress Risk: Evidence from Vietnamese Listed Firms
Abstract:
This study examines the impact of corporate social responsibility (CSR) on finnancial distress risk (FDR). We use OLS regression and a sample of 294 non-financial firms listed in Vietnam during 2016–2020. Our results provide strong evidence that CSR have a negative effect and statistically significant on FDR. In other words, firms pay more attention to CSR activity likely to manage their financial competence better than others which have to face financial distress risk. This finding is especially important because the sustainable development has been become a goal of a modern risk management approach for publicly listed firms in Vietnam.