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Determinants of Time for Publication Annual Reports: Empirical Evidence from Non-Financial Listed Companies in Vietnam

Author

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  • Anh Huu Nguyen

    (School of Accounting and Auditing, National Economics University, Hanoi 10000, Vietnam)

  • Hieu Thanh Nguyen

    (School of Accounting and Auditing, National Economics University, Hanoi 10000, Vietnam)

  • Chung Quang Tran

    (School of Accounting and Auditing, National Economics University, Hanoi 10000, Vietnam)

  • Lien Quynh Le

    (School of Accounting and Auditing, National Economics University, Hanoi 10000, Vietnam)

Abstract

This article studied the factors affecting the time taken for annual report submission through an analysis of 654 non-financial listed companies on the Vietnamese stock market from 2016 to 2020. Data collected were processed by using fixed-effect models (FEM), random effect models (REM), adjusted REM, and general least square (GLS) to ensure the validity of research results. The main objective of this paper was to explore the effects of independent variables including retained earnings (RETA), earnings before interest and tax (EBITTA), liquidity (WCTA), capital structure (BVETD), bankruptcy risk (ZSCORE), size (SIZE), number of years in business (AGE), characteristics of financial reports (CONSO), and type of audit firm (AUDIT) on the number of days for publication annual reports (TIME). The results obtained from the adjusted-REM and GLS regression showed that retained earnings, firm age, and firm size have positive effects on time for disclosure annual reports, whereas earnings before interest and tax and audit firm type have negative effects. In addition, the results showed that working capital, capital structure, feature of consolidated reports, and bankruptcy risk have no significant effects on time to publish annual reports.

Suggested Citation

  • Anh Huu Nguyen & Hieu Thanh Nguyen & Chung Quang Tran & Lien Quynh Le, 2022. "Determinants of Time for Publication Annual Reports: Empirical Evidence from Non-Financial Listed Companies in Vietnam," IJFS, MDPI, vol. 10(2), pages 1-21, June.
    • Handle: RePEc:gam:jijfss:v:10:y:2022:i:2:p:43-:d:837877
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    References listed on IDEAS

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    1. Chen-Hui Wu & Chin-Shun Wu & Victor W. Liu, 2008. "The Release Timing Of Annual Reports And Board Characteristics," The International Journal of Business and Finance Research, The Institute for Business and Finance Research, vol. 2(1), pages 103-118.
    2. Asli Gunduzay Türel, 2010. "Timeliness of Financial Reporting in Emerging Capital Markets: Evidence from Turkey," European Financial and Accounting Journal, Prague University of Economics and Business, vol. 2010(3), pages 113-133.
    3. Stephen Owusu‐Ansah & Joanna Yeoh, 2005. "The effect of legislation on corporate disclosure practices," Abacus, Accounting Foundation, University of Sydney, vol. 41(1), pages 92-109, February.
    4. Hussein Ali Khasharmeh & Khaled Aljifri, 2010. "The Timeliness Of Annual Reports In Bahrain And The United Arab Emirates: An Empirical Comparative Study," The International Journal of Business and Finance Research, The Institute for Business and Finance Research, vol. 4(1), pages 51-71.
    5. Oliver Lukason & María-del-Mar Camacho-Miñano, 2019. "Bankruptcy Risk, Its Financial Determinants and Reporting Delays: Do Managers Have Anything to Hide?," Risks, MDPI, vol. 7(3), pages 1-15, July.
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