Effect of water disclosure on firm value: evidence from food sector in Vietnam
Abstract
This paper explores the association between water disclosure and firm value in Vietnam's food sector based on the samples of 23 listed food firms on the Ho Chi Minh City Stock Exchange (HOSE) and the Hanoi Stock Exchange (HNX) from 2010 to 2021. By employing Ordinary Least Squares (OLS), Fixed Effects (FE), Random Effects (RE) and Two-Stage Least Squares (2SLS) estimation methods , our study indicates that water consumption reporting is positively associated with firm value. Through the lenses of stakeholder theory, signalling theory , legitimacy theory and p olitical economy theory , t he study is expected to provide emp i rical evidence of voluntary water disclosure ’s benefits and policy implications for managers, investors, and regulatory authorities .