Human resource accounting disclosure among listed companies in Vietnam: An empirical study

Figures & data

Table 1. Hypotheses and expected relationship

Hypothesis	Variable	Expected relationship
H1	Firm size	+
H2	Profitability	+
H3	Leverage	+
H4	Listing age	+
H5	Foreign ownership	+

(Source: Authors’ compilation)

Table 2. Human resource accounting disclosure levels

HRDI (%)	No. of observations (N)	Percentage of total observations	Cumulative percentage
10–20	15	6.25	6.25
21–30	59	24.58	30.83
31–40	85	35.42	66.25
41–50	47	19.58	85.83
51–60	21	8.75	94.58
61–70	11	4.58	99.17
71–80	1	0.42	99.58
81	1	0.42	100
Total	240	100

(Source: Data analysis)

Legend: HRDI is the human resource accounting disclosure index.

Table 3. Descriptive statistics of dependent and independent variables

Variable	Obs.	Mean	Minimum	Maximum	Std. Dev.
HRDI	240	36.82	9.38	81.25	12.52
FSIZE	240	14.31	11.82	18.18	1.46
PROF	240	8.44	−3.76	41.63	8.24
LEV	240	43.6	3.10	87.0	21.93
LAGE	240	8.89	2	17	2.90
FOREIN	240	16.0	0	76.9	16.92

(Source: Data analysis)

Legend: HRDI: human resource accounting disclosure index; FSIZE: size of company; PROF: profitability; LEV: leverage; LAGE: listing age; FOREIN: foreign ownership.

Table 4. Scores of human resource disclosure components for studied companies

No.	Human resource disclosure components	Disclosure score	Disclosure percentage
1	Training-related information	424	14.98
2	Employee-related information	682	24.10
3	Health and safety-related information	378	13.36
4	Work-related information	729	25.76
5	Board of Directors (BOD)-related information	615	21.73

(Source: Data analysis)

Table 5. Correlation matrix of explanatory variables

	HRDI	FSIZE	PROF	LEV	LAGE	FOREIN
HRDI	1.000
FSIZE	0.4069	1.000
PROF	0.1614	−0.118	1.000
LEV	0.0406	0.4254	−0.5175	1.000
LAGE	0.0196	0.1991	−0.0285	−0.1023	1.000
FOREIN	0.3281	0.3746	0.2441	−0.2324	0.3889	1.000

(Source: Data analysis)

Legend: HRDI: human resource accounting disclosure index; FSIZE: size of company; PROF: profitability; LEV: leverage; LAGE: listing age; FOREIN: foreign ownership.

Table 6. Comparison among OLS, the FEM, and the REM

	OLS	FEM	REM
Variables	(1)	(2)	(3)
FSIZE	0.029***	0.088**	0.039***
	(4.40)	(1.96)	(4.71)
PROF	0.027**	0.012	0.002
	(2.53)	(0.71)	(1.63)
LEV	−0.0071	−0.064	−0.0432
	(0.15)	(−0.64)	(−0.73)
LAGE	−0.0054*	−0.0064	0.0029
	(−1.92)	(−0.95)	(−0.82)
FOREIN	0.127**	0.538***	0.0257
	(2.29)	(3.88)	(0.36)
Constant	−0.0453	−0.7280	−0.1631
	(−0.54)	(−1.21)	(−0.82)
R-sq	0.224	0.1852	0.1093
Observations	240	240	240
Number of ID		80	80
F test	11.98***	4.04***
Wald chi square			24.05***
Variance inflation factor	<10
Hausman test (Chi-square)			24.44***

Notes: ***, **, and * indicate significance at the 1%, 5%, and 10% levels, respectively; the t-statistics are reported in parentheses. (Source: Data analysis)

Legend: HRDI: human resource accounting disclosure index; FSIZE: size of company; PROF: profitability; LEV: leverage; LAGE: listing age; FOREIN: foreign ownership.

Table A1. Human resource accounting disclosure checklist (32 items)

Number	Disclosure items
Training related items (five items)
01	Training and education statement
02	Number of training courses
03	Training hours/day per employee
04	Training hours/day per employee, breakdown by gender
05	Money invested in training
Employee related items (nine items)
06	Policy of recruitment and selection
07	Senior managers, breakdown by gender
08	Number of employees in the company/branch/subsidiary
09	Number of employees, breakdown by gender
10	Number of employees by qualifications
11	Employees’ age distribution
12	Average age of employees
13	Talent recruitment and retention
14	Employee survey
Health and safety related items (six items)
15	Occupation health and safety
16	Providing low-cost health care to employees
17	Sick/absence level
18	Sick/absence level breakdown by gender
19	Information on accident statistics (injuries and accidents)
20	Injuries/accidents per million working hours
Work-related items (nine items)
21	Equal opportunity statement
22	Labor and management relations
23	Collective agreements/activities
24	Providing recreational activities/facilities
25	Providing staff accommodation/staff home ownership schemes, food, fuel, other benefits
26	Information about support for day-care, maternity and paternity leave, holidays and vacations
27	Disclosing policy for company’s remuneration package/schemes
28	Information of employees share purchase schemes
29	Reporting on company’s relationship with trade unions/workers
Board of Directors (BOD) related items (three items)
30	Age of BOD members
31	Board breakdown by gender
32	Education level of the board

(Source: Adapted and modified from Aggarwal & Verma, 2020)

Aggarwal, K., & Verma, A. (2020). Effect of company characteristics on human resource disclosure index: Empirical evidences from Indian corporates. Management and Labour Studies, 45(1), 85–117. https://doi.org/10.1177/0258042X19890246

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Data availability statement

Please contact the authors.