The Impact of Online CSR Disclosure on Firm Performance in Banking Industry: Evidence from Vietnam

CSR is the way in which corporations attribute their resources to take responsibility in order to improve the society and environment for a long term which goes beyond the merely economic strategy and legal requirements. It is one of the important factors affecting firm performance. Along with the shift from “traditional CSR” to “modern CSR,” our study assesses the impact of online CSR disclosure on firm performance of listed banks in Vietnam to fill the research gap both in theory and in experimental application. Content analysis and Pool-OLS regression methods are applied to calculate and evaluate the results of testing the research hypotheses. The results show that online CSR disclosure produces a positive effect on firm performance in terms of ROA indicator and the online disclosure of CSR information can produce protection shield to reduce the negative impacts of uncertainty events as COVID-19. Our study provides empirical suggestion that managers should utilize CSR as a strategic action to gain higher firm performance. This result implies that in terms of policy, it is necessary to establish standardized systems that guide and control CSR practices to enhance the effectiveness of CSR disclosure.