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The disclosure of Environmental, Social, and Governance reports of Small and Medium-sized Enterprises in the emerging market

Author

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  • Lan Thi Ngoc Uong

    (Thanh Dong University, Hai Duong Province, Vietnam)

  • Nam Danh Nguyen

    (Thanh Dong University, Hai Duong Province, Vietnam)

Abstract

The study aims to explore the factors influencing the disclosure of ESG reports of Small and Medium-sized Enterprises (SMEs) in Vietnam, an emerging economy in Southeast Asia, using fundamental theories such as legitimacy theory, stakeholder theory, organizational theory, institutional theory, and agency theory. Using a survey dataset of 217 SMEs in Vietnam’s two largest cities obtained through convenience sampling, we tested hypotheses and structural equation models using SmartPLS software. The results indicate that legal regulations have the greatest impact on ESG report disclosure among SMEs in Vietnam, while the sector of an enterprise exerts the least influence. These findings provide insights into the factors influencing ESG disclosure in an emerging economy, offering valuable implications for companies, policymakers, and other stakeholders.

Suggested Citation

  • Lan Thi Ngoc Uong & Nam Danh Nguyen, 2025. "The disclosure of Environmental, Social, and Governance reports of Small and Medium-sized Enterprises in the emerging market," HO CHI MINH CITY OPEN UNIVERSITY JOURNAL OF SCIENCE - ECONOMICS AND BUSINESS ADMINISTRATION, HO CHI MINH CITY OPEN UNIVERSITY JOURNAL OF SCIENCE, HO CHI MINH CITY OPEN UNIVERSITY, vol. 15(3), pages 107-123.
    • Handle: RePEc:bjw:econen:v:15:y:2025:i:3:p:107-123
    DOI: 10.46223/HCMCOUJS.econ.en.15.3.3701.2025
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    References listed on IDEAS

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    2. Maria Krambia-Kapardis & Christos S. Savva & Ioanna Stylianou, 2023. "Socio-Economic Factors Affecting ESG Reporting Call for Globally Agreed Standards," Sustainability, MDPI, vol. 15(20), pages 1-35, October.
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    4. Venancio Tauringana, 2020. "Sustainability reporting adoption in developing countries: managerial perception-based determinants evidence from Uganda," Journal of Accounting in Emerging Economies, Emerald Group Publishing Limited, vol. 11(2), pages 149-175, October.
    5. Roshima Said & Yuserrie Hj Zainuddin & Hasnah Haron, 2009. "The relationship between corporate social responsibility disclosure and corporate governance characteristics in Malaysian public listed companies," Social Responsibility Journal, Emerald Group Publishing Limited, vol. 5(2), pages 212-226, June.
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    Keywords

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    JEL classification:

    • D22 - Microeconomics - - Production and Organizations - - - Firm Behavior: Empirical Analysis
    • F64 - International Economics - - Economic Impacts of Globalization - - - Environment
    • O44 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Environment and Growth

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