The impact of corporate social responsibility disclosure on the financial performance of real estate companies listed on ho chi minh stock exchange: Moderating role of women on board

Abstract

This research examines the influence of Corporate Social Responsibility (CSR) disclosure on the financial performance of“real estate firms listed”on the Ho Chi Minh Stock Exchange (HOSE) from 2019 to 2023 with a particular focus on the moderating effect of women on board. A research framework was established utilizing financial data extracted from annual reports and sustainability disclosures of“real estate companies listed”on HOSE during the specified period. Key variables analyzed include the CSR disclosure index (CSRD), financial performance indicators such as Return on Equity (ROE), Return on Assets (ROA), and Tobin's Q, and the presence of women on board. The methodology employed panel data regression and moderation analysis to evaluate the interactions among these variables. The findings indicate a significant positive relationship between CSRD and financial performance, while the presence of women on boards strengthens this relationship. This research highlights the importance of integrating gender diversity in governance and enhancing CSR practices for sustainable corporate growth.