TAP CHi CQNG THtfOlNG
CAC YEU TO ANH HlJCfNG Mtfc DO TIET L O T H O N G T I N KE TOAN MOI TRl/CfNG:
TRlJOfNG H d P NGANH CHE BIEN THlTC PHAM CUA CAC CONG TY NIEM YET
TAI scf GIAO DICH CHtfNG KHOAN THANH PHO HO CHI MINH
• NGUYEN TH! MAI HUdNG - LE PHAM MY LINH - HONG D I I M Q U Y E N - N G U Y I N THI DA THAO
TOM TAT:
Bao cdo tai chinh (BCTC) IS dia chi tin c3y de cac c6ng ty niem yd't truyen tai thong tin moi tru'dng den cac ben li8n quan. Ke't qua xii ly diJ lieu thu* ca'p tiif BCTC trong giai doan 2014 - 2 017 c&a 27 C6ng ly cd phtn (CTCP) san xuat thifc ph^m ni6m y6't trdn Sd Giao dich Chiang khoan TP.HCM (Hose) da cho bi6't chat lifdng va raitc dp cong bo th6ng tin mdi tnfdng tren BCTC dang hi anh hu'dng bdi 2 ye'u to "Quy mo doanh nghidp" vS "Thdi gian nidm yd't".
Tiif khoa: Thdng tin moi tru'dng, kd' toan mdi tnfdng, bdo cao tai chinh, nganh chd' bid'n thifc pham, Sd Giao dich Chd'ng khodn TP. HCM.
1. Dat van d^
Sif thanh cdng cua nhilu to chtfc phu thugc vao cac nguon liJc khae nhif: Chuyen mon cua ngu'di dan, sd hifu tri tue phat triln thong qua nghidn cu'u va phat trien, sif tu'dng tac vdi moi tnfdng va xa hgi ndi hg boat dpng. Nhif vay, viec md ta ngu6n life theo each the hien truyen thd'ng cua BCTC da va dang chifa dap u'ng nhu cau suf dung thdng tin cua eac ben lien quan. Bai nghien ciJu difdc thu'c hien nhdm phan tich nhan to' tac dpng dd'n cong bd' thdng tin phi tai chinh trong BCTC eua cac doanh nghiep thdng qua md phdng cua nhdm nganh thifc pham, day la nhom nganh cd mo'i lien he chat che vdi eac thdng sd'danh gia ve trach nhidm xa hdi, thdng tin
mdi tru'dng,, nham xac dinh nhan td tdc ddng va de xua't giai phdp ihiic day doanh nghiep tang c^dng thifc hien trach nhidm dd'i vdi moi tnfdng va xa hpi;
dap u'ng su" phii hdp vdi thdng le qud'c te' va tang cUdng tinh mmh bach cho thi tru'dng chiJng khodn Viel Nam theo linh than cua Thdng tif sd' 155/2015/TT-BTC.
2. Npi dung 2.1. Cdsdly thuyd't
2.1.1. Ly thuyet linh hap phdp (Legitimacy theory)
Theo Cho va Patten (2007), ly ihuye't tinh hdp phap ham y rang nhu'ng cdng bd' mdi trifdng la mdt chu'c nang the hidn siJc manh cua xa hdi va ap life
KETOAN-KIEM TOAN
chinh tri lien quan den boat dong mdi tnfdng ma doanh nghiep phai dd'i mat. Ly thuyd't nay con giai thich hdch nhiem cua doanh nghidp ve vide dp dung ke lodn mdi tnfdng (KTMT), bdi vi nhu cau thi hanh KTMT difOc bdt ngu6n iff sir bat man cija c6ng dong va chinh phu, ap life ti^ yeu cau eua ngifdi lao ddng, ngifdi tidu diing va cac ben hen quan (Toukabri va cdc cpng sif, 2014). Vi vay, vide c6ng bd' thong lin mdi tnfdng trong eac bao cao thifdng nien (BCTN) la mot chie'n lifdc kinh doanh cua cdc doanh nghiep. Chie'n lifdc nay nham cho thay doanh nghiep boat ddng mdt each hcfp phap va CO trach nhiem vdi xa hpi.
cdng ty niem ye't hoac co tnfdng hdp thu thap tiJf website Vielstock (fi nance. vietstock.vn).
2.3. Md hinh nghien cdu gid dinh
Van dung nghidn cu'u cua La Soa Nguyen, Manh Dung Tran, Thi Xuan Hong Nguyen & Quoc Hoi Le (2017). Nhom lac gia de xuS't:
ElD = pf, + ^iSIZE + ^2PR0 +^3LEV + 0^GE + PsAUD + e
Trong do: FID la chi so' edng bd' thong tin mdi hT^dng cua tifng doanh nghiep; po ia tham so' tif do;
Pi, ^2' Ps' P4' Ps la cdc tham so' chifa bid'l cua md hinh, e la sai sd'ngau nhien.
Thang do eua eac bie'n dde lap Bang 1.
Niian to Quy mo doanh nghiep
Kha ndng sinh ldi Bon bay tai chinh Thdi gian ni6m yet Chu thi kiem loan
Bi§h ma hoa
SIZE PRO LEV AGE AUD
Do ludng cac bien LogCfong tai san) Loi nhuan sau thueA/6n ehu sd hu'u
No phai tra/Tdng lai san So nam da mem yet tinh den euoi nam 2016.
= 1, neu chon cong ty kiem loan trong Big4; = 0, con lai.
Ma quan h$ vdi bi^phythu^cEID Cung chieu Cung chieu Cung chieu Cung chieu Cung chieu 2.1.2. Ly thuyet cdc ben USn quan (Stakeholder
theory)
Cic ben cd lien quan cung se ddnh gia vide thu'c hien trach nhiem mdi tru'dng cua doanh nghiep thdng qua cac thdng lin mdi trifdng ma doanh nghiep cdng bd. Vi vSyly thuye't nay du'dc SlJ dung de nghien cu'u, danh gia nhdm nhan Id' dp life tif phia cdc ben lien quan anh hu'dng tdi kha ndng dp dung ke' loan mdi tnfdng trong doanh nghiep.
2.2. Thiet k^'nghi&n ciiu
Ddi tuang nghien cdu: Cdc nhan id' tac ddng de'n viec cong bd' thdng tin mdi tnfdng thupc nhdm nganh Thifc pham.
^Mtic tieu nghien cdu: Xde dinh nhan td tac dpng den cdng bd' thdng lin mdi tnfdng thupc nhom nganh Thu'c pham.
^ Phuang phdp nghien ctfu: Nghien cu'u chinh thu'c sSdung nghien cu'u dinh lifdng diJlieu thu'cap difdc Ipc tren BCTN ti^ 27 doanh nghiep niem ye't trdn Sd Giao dich Chd'ng khoan TP. Ho Chi Minh thuOc ITnh Vifc san xuat thifc pham giai doan 2014 - 2017. Cdc thong tin can thu thdp thdng qua website cua cde
2.6. KS'tqudphdn tich ddlieu
2.6.1. Phan tich thd'ng ke md td vd tUcfng quan Bang 2. Phan tich thong ke mo ta
va ttfcfng quan
Variable EID SIZE PRO LEV AGE AUD
Obs 108 108 108 108 108 108
Mean 0.1119 12.3202
0.1120 0.4911 7.1574 0.4722
Std.Dev 0.1292 0.5907 0.1500 0.2015 4.4009 0.5016
Min 0 11.2437 -0-3114 0.0422 0 0
Max 0.6176 T3.8636 1.0167 0.8508 17
1 Nguon: Tac gia 11/tong hap
Ket qua thong ke mo ta cho thay vdi so li/dng quan .sat la 108 quan sat bao gom 27 doanh nghiep nghien ctfu trong vong 4 nam tif nam 2014 de'n nam 2017 thi mijc do cong bo thong tin moi trtfflng cd gia tn trung Mnh la 0.1119 vdi gia trj nho nhat la 0 va gia tri Mn nhat la 0.6176, cho
TAP CHi CONG THIfdNG
tha'y so' lu'dng doanh nghiep edng bd' thdng lin mdi tru'dng la rat it.
Quy md doanh nghiep trung binh nam trong khoang tif 11.2437 de'n 13.8636, chd'ng id Ididng co si^ khde biet qua Idn ve quy md doanh nghiep trong mau nghien cu^i. Kha nang sinh ldi trung binh cua cae doanh nghidp ehi dat 0.112 cho thay cac doanh nghiep trong nganh san xua't thifc pham phat trien kha cham, doanh thu trung binh nam chi dat 11.2%.
Gia tri trung binh cua ddn bay tai ehinh la 0.484 the hien eac doanh nghiep dang si^ dung nd vdi ty le 48.4% tren cd ea'u vd'n. Thdi gian nidm ye't irung binh tren san chifng khodn la 7.1574 nam, dao ddng tif doanh nghiep chifa niem ye't de'n thdi gian ntem ye't dai nha't la 17 nam. Sd' lu'dng doanh nghiep chgn edng ty kiem loan thupc Big4 Idn hdn cdc cdng ty kiem todn khac.
2.6.2. Phdn tich tuang quan Bang 3. Phan tich ti/dng quan
Bang 4. Phan tich hien tJdng da cong tuyen
EID SIZE PRO LEV AGE
EID 1.0000 0.2639 0.3259 -0 1965 01055
SIZE
10000 0.3884 -0.0387 -0.1534 AUD 1 0 1354 0.3883
PRO
1.0000 -0 3424 -0.1001 0 2829
LEV
10000 01531 -0.1925
AGE
10000 0.2963
AUD
1.0000 Ngudn: Tdc gid tif tdng hOp
Difa vao Bang phan tich tu'dng quan, la tha'y la'l ca cde bie'n deu nhd hPn 50% chiing id khdng xay ra hien tifdng tif tifdng quan giifa cac bie'n. Cac bie'n SIZE PRO AGE AUD ed lifdng quan ciang ehieu vdi EID, bie'n LEV c6 tifdng quan ngu"pc chieu vdi EID. Kd'l qua tifPng quan tren phii hdp vdi hau he't cdc nghien cu'u tnfdc trdn the' gidi, va dong thdi phii hop vdi ky vong cua tdc gia trong nghidn cifu nay.
2.6.3. Phdn tich hien tuang da cdng tuyen Ke't qua kie'm dmh he so' phdng dai phifOng sai (Variance Inflaction Factor - VIF) cho tha'y ta't ca Ciic he so' deu nhd hdn 10, dieu nay nghia la hien tu'dng da cdng tuye'n khdng xay ra Irong bd sd nghien cifu.
Variable AUD SIZE PRO LEV AGE Mean VIF
VIF 1.52 1.46 1.36 1.29 1.23 1.37
1/VIF 0 658114 0.682782 0.734190 0.775383 0.810181
Nguon: Tdc gid ttf tdng hop 2.6.4. Phdn tich hdt quy iheo phutfng phdp OLS, FEM vd REM
Nhdm tiie gia suf dung phu'dng phdp binh phifdng nho nha't OLS de danh gia tac ddng eiia eae bie'n dde lap len bie'n phu thugc. Theo kd'l qua trich xua't difdc thi cd ba bie'n Size (quy md). Pro (kha nang sinh ldi), va Age {thdi gian niem ye't) cd y nghTa tho'ng ke trong md hinh hoi quy OLS. Tuy nhien khi kiem dinh Idi cho md hinh OLS thong qua kiem dinh White va kiem dinh Wooldridge thi phat hien md hinh hi mac phai hai ldi la hien lu'Ong lu'dng quan chudi va hien IUdng phifdng sai thay ddi. Do do, nhdm tac gia chuyen qua s^ dung phu'dng phap FEM va REM de danh gia tac ddng eua cdc bie'n dpc lap len bie'n EID.
Kd't qua h6i quy theo 2 phifdng phap deu cho tha'y chi cd hai bie'n quy md va Ihdi gian niem yet cd y nghTa ve mat thd'ng ke va cd tae dpng tich cifc de'n bie'n phu thugc, khi quy md (Size) va thdi gian niem ye't (Age) efia cdng ty cang Idn va cang dai ihi sd lu'dng thong tin mdi tru'dng difdc cdng bd se cang cao. Tat ca nhifng bien cdn lai deu khdng cd y nghTa thd'ng ke, cho thay miJc dp cdng bd thong tin mdi tru'dng cua cd doanh nghiep nganh thifc pham khdng phu thupc vao kha nang sinh ldi (Pro), ddn bay tai ehinh (Lev) va chu the kiem loan (Aud).
^Mae dil theo ly ihuye't thi viec lifa chgn cdng ty kiem toan thude Big4 se gidn tie'p xac nhan ve mufc dd edng khai, minh bach va dang tin cay cua thdng tin trong bao cao tai chinh cua doanh nghiep, nhu^g qua ke't qua hoi quy bie'n chu the kiem loan (Aud) d ca ba md hinh OLS, FEM va REM deu cho tha'y chu the kiem toan vijfa khdng cd y nghTa thdng kd ma vifa tae dpng tieu cifc den mdc dp cdng bd thdng tin mdi tru'dng cua doanh nghiep, so lifdng doanh nghiep cd cdng bd Ihdng tin mdi tnfdng difdc kiem loan bdi
KE TDAN-KIEM TOAN
Bang 5.
OLS
H
1 FEM
REM
Constant -0.573
-2.444
-1531 SIZE 0.056 (0.021)
0.186 (0 016) 0.128 (0.000)
PRO 0.197 (0.031)
0 121 (0.087) 0.105 (0.152)
LEV -0.108 (0.094) -0.009 (0.943) -0.104 (0.242)
AGE 0 007 (0.025) 0 039 (0.000) 0.019 (0.000) - Sd'lieu d dmg ihClttttai cita moi cot dudc tong hap tit cot Coefficient trong cac mo itinli lio -So lieu trong ngoac dong thtjhai duoc tong hap ttj cot P vaiue cua tung bien trong cac mo
AUD -0 033 (0.245) -0 058 (0.154) -0 061 (0.081) guy.
hinh hoi quy.
R Squared 01818
0 4555
0.4174
Big4 it hdn nhu'ng doanh nghiep du'dc kiem toan bdi cac cong ty kiim loan khde. Dieu nay cho tha'y, chu the kilm lodn chi anh hu'dng de'n mtfc dp cdng bd thong tin bat budc cua doanh nghiep (Hossain va cong sif. 1995) con dd'i vdi loai thong lin lif nguyen thi hoan loan khdng cd tdc dgng.
Sau khi difa ra nhan dinh ve sif anh hudng ciia cac bien quy md va thdi gian niem yd't bdng hai phifdng phap FEM va REM qua ke't qua hoi quy d Bang 5, nhdm lac gia lien hanh kiem dinh Hausman de lUa ebon md hinh phii hdp nhat. Day la mdt thif nghiem can thie't de lam cd sd chgn md hinhsu'dunghieuquacddinh hoac ngau nhidn. Ke't quS p-value eua kiem dinh Hausman co gid tri la 0.00(X) nhd hdn 0.05. Vdi ke't qua phan lich nhu' vay, trong tru'dng hdp nay sil' dung md hinh hoi quy ciia phifdng phap FEM la phii hdp nha't. Vdi bie'n phu thuoc la EID, sau khi tie'n hanh kiem dinh eac gia thuyet h6i quy cua phifdng phdp FEM, ta difdc ket qua: bien SIZE va bien AGE cd tdc dgng cung chiSu de'n bie'n EID vdi mu'c y nghTa 5%, cdc bie'n con lai khdng cd tdc ddng de'n bie'n EID. Md hinh CO R squared la 0.4555, nghia la cde bie'n dde lap du'dc chpn giai ihich du'dc 45.55% sif thay doi cua mifc dp cdng bd thdng tin mdi tnfdng cua cdc doanh nghiep san xua't mem yet tren HOSE. Kd't qua kiem dinh da cho bid't cd hai ye'u td "Quy md doanh nghiep" va "Thdi gian nidm ye't" tren thi tnfdng
chtfng khodn cd anh hudng tieh cifc de'n viec cdng bd thdng lin mdi tru'dng. Ndi cdch khde, quy md doanh nghiep cang Idn va thdi gian niem yd't cang dai thi mu'c dd cdng bd' thdng tin mdi tru'dng eiia doanh nghiep cang cao. Phu'dng trinh h6i quy du'dc vie't lai nhifsau:
EID = -2.444 + 0.186*SIZE + 0.121*PRO - 0.009*LEV + 0.039*AGE - 0.058*AUD + e
3. Ket luan
Thdng tu .so' 155/20I5/rT-BTC, hoat dgng cdng bd thdng tin tren TTCK d nifdc ta khdng ngijfng difdc hoan thien va di vao nen ne'p. Tuy nhien, cung phai nhin nhan rang, viec Ihifc hien nghTa vu cdng bd ihdng tin ciia cdc ehii the trdn TTCK edn ton tai nhieu bat cap. Chdng han, tai cae qud'c gia phat trien nhu' My, Nhat Ban. khi cdng ly y thu'c difdc vai trd quan trpng BCTN, ho thifdng tnnh bay kha day dii bao cdo danh gia ciia Ban Giam ddc va Hdi dong quan tri. Tuy nhien, lai Vidt Nam, viec lap BCTN chifa dtfdc nhieu doanh nghiep chii trpng, va ndi dung tai bdo cao nay tren thu'c te'edn khd sd sai.
Do dd, vdi dinh hu'dng phat tnen bin vCng, Viet Nam can nghien cu'u de cd nhifng sufa doi pbu hdp tai cdc van ban quy pham phap ludt hien hanh dieu chinh hoat ddng edng bd thdng tin trdn TTCK, giup eho cdc doanh nghiep khdng chi hoal ddng vi muc lieu ldi nhuan ma cdn phai cd irdch nhiem hdn vdi mdi tru'dng, cong dong xa hdi •
TAI LIEU THAM KHAO:
'- Liu. X & Anbumozhi V. (2009). Determinant factors of corporate environmental information disclo.sure: An empirical study of Chinese listed companies. Journal of Cleaner Production. Vol 17, Issue 6. April 2009. 593-600
TAP CHl CONG THIflfNG
2. Wachira, M. M. (2014). Factor influencing the adoption of environmental management accounting practices among firms in Nairobi, Kenya. Master Thesis, University of Nairobi, Kenya.
3 Silva Monteiro, S M., & Aibar-Guzmdn, B (2010). Determinants of environmental disclosure in the annual reports of large companies operating in Portugal. Corporate Social Responsibility and Environmental Management, 17(4), 185-204.
4. La Soa Nguyen, Manh Dung Tran, Thi Xuan Hong Nguyen & Quoc Hoi Le (2017). Factors Affecting Disclosure Levels of Environmental Accounting Information: The Case of Vietnam. Accounting and Finance Research. Vol 6, No. 4, 2017, pp. 255-264.
5. Bo Tdi chinh (2015), Thong lusd 155/201S/TT-BTC hUdng ddn ve cong bo thong tin tren thi trudng chdng khodn, ngdy 06/10/2015.
6. Le, V. L., Tran, 7. T., & Phan, L. T. (2016). Cdc Ihuye't gidi thich sU tU nguyen cong bd thong tin ve mdi Irudng vd xd hoi c&a cdc doanh nghiep. Kelodn vd Kiim lodn, 152.
7. NguySn Thi Thu Hdo (2015). Cdc nhdn td dnh hudng de'n mdc do cong bd thong tin tU nguyen ciia cdc doanh nghiip niemyet Iren HOSE. Tap chi Phdt Irien kinh te, 26(11), 99-115.
Ngay nhSn bai: 12/8/2018
Ngay phan bien danh gia va su'a chifa: 22/8/2018 Ngay cha'p nhan dang bai: 1/9/2018
Thong tin tdc gid:
1. TS. NGUYEN THI MAI HlJCfNG
Khoa Kd'toan - Kid'm toan, Trtfcfng D^i hoc Ng3n hang TP. H 6 Chi Minh 2. LE PHAM MY LINH - HONG D i t M QUYEN - NGUYEN THI D ^ THAO Sinh vien Khoa Kd'toan - Kiem toan, TrUcfng Dai hoc Ngan hang TP. Ho Chf Minh
FACTORS AFFECTING DISCLOSURE LEVELS OF ENVIRONMENTAL ACCOUNTING INFORMATION:
CASE OF FOOD PROCESSING ENTERPRISES LISTED ON HOSE
• Ph.D. NGUYEN THI MAI HUONG
Accounting a n d Auditing Department, Bani<ing University Ho Chi Minh City
• LE PHAM MY LINH - HONG DIEM QUYEN - NGUYEN THI DA THAO Student, Accounting and Auditing Departnnent, Banking University Ho Chi Minh City
ABSTRACT:
Financial statements are considered as a reliable information source about environment oflisted companies for stalceholders. By analyzing secondary data of fmancial statements over the period 2014 - 2017 of 27 food processing joint-stock companies listed on the Ho Chi Minh Stock Exchange (HOSE), the results show that there are two factors, namely, enterprises size and time of hsting, that affects the quality and the level of disclosurmg environmental information on fmancial statements.
Keywords: Environmental information, environmental accounting, financial statements, food processing industry. Ho Chi Minh City Stock Exchange.
4 2 6 So 12-Thang 9/2018
