The Impact of Board Characteristics on Information Disclosure of Vietnamese Enterprises

  • Nguyen Xuan Thuan
  • Tran Ba Tri
  • Pham Phat Tien


The study investigates the impact of board characteristics on listed companies' information disclosure level in Vietnam. The data is collected from the audited financial statements and annual reports of 648 listed companies on HOSE and HNX. Based on the suggested items of Standard and Poor's and the Vietnamese stock exchange market context, the information disclosure index is calculated, which is used for measuring the level of information disclosure of the listed companies. The findings show that the information disclosure level is strongly influenced by board characteristics, namely the positive effect of the board size, state ownership, and duality role, and negative effect of non-executive directors. Additionally, we also find the positive effect of the quality of financial statements and the marketplace on information disclosure. Besides that, we find evidence that the relationship between information disclosure and board characteristics is also significant influenced by firm size, firm profitability, and firm leverage.


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How to Cite
XUAN THUAN, Nguyen; BA TRI, Tran; PHAT TIEN, Pham. The Impact of Board Characteristics on Information Disclosure of Vietnamese Enterprises. Asian Journal of Research in Business and Management, [S.l.], v. 3, n. 4, p. 70-82, dec. 2021. Available at: <>. Date accessed: 21 may 2022.