The impact of corporate social responsibility disclosure under TCVN ISO 26000:2013 on default risk in non-financial listed companies in Vietnam
Published: July 25, 2026
Abstract
This study investigates the relationship between the level of corporate social responsibility (CSR) disclosure and default risk among non-financial enterprises listed on the Ho Chi Minh Stock Exchange (HOSE) in Vietnam. While CSR reporting is well established in developed economies, it remains relatively nascent and underexplored in Vietnam, particularly in relation to corporate financial stability. Using the national standard ISO 26000 (TCVN ISO 26000:2013), the study develops a comprehensive measurement scale to assess CSR disclosure. Based on panel data from 204 non-financial enterprises over the 2016-2023 period, the findings reveal a negative association between CSR disclosure—especially in areas concerning environmental, social, and individual responsibility—and default risk. The results suggest that enhancing CSR practices not only fulfills ethical obligations but also serves as a strategic tool to mitigate financial distress and improve long-term corporate resilience.
Keywords
corporate social responsibilitydefault riskTCVN ISO 26000:2013
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