ベトナム上場建設企業の経営効率に影響を与える要因：統合情報開示の媒介効果の検証
Factors Affecting the Operational Efficiency of Listed Construction Enterprises in Vietnam: Testing the Mediating Role of Integrated Information Disclosure (原題)
Thi Nhung Dao, Thu Huyen Pham, Thị Hằng Trần, Le Long Vu, Thi Hong Nguyen
🤖 gxceed AI 要約
日本語
ベトナム上場建設企業49社・2019〜2024年のパネルデータ（266社年）を用い、企業規模・成長率・財務レバレッジ・企業年齢が統合情報開示（IRC）水準を高め、IRCがこれらと経営効率（ROA・ROE・ATO）の関係を媒介することを示した。独立取締役比率とBig4監査はIRCに有意な影響を与えなかった。新興国建設業における開示の伝達メカニズムを解明し、透明性向上による持続的効率改善の実務的含意を提示する。
English
Using an unbalanced panel of 49 listed Vietnamese construction firms (2019–2024, 266 firm-years), the study finds firm size, growth, leverage, and age raise integrated information disclosure (IRC) levels, and IRC significantly mediates their effect on operational efficiency (ROA, ROE, ATO). Independent board ratio and Big4 audit show no significant effect on IRC. It clarifies the disclosure transmission mechanism in an emerging-market construction sector, offering practical implications for firms and regulators.
Unofficial AI-generated summary based on the public title and abstract. Not an official translation.
📝 gxceed 編集解説 — Why this matters
日本のGX文脈において
統合報告・情報開示が経営効率に与える経路を実証した点は、日本企業の統合報告書・有報での非財務開示強化やSSBJ対応を検討する際の参考になる。ただし気候・GX開示に特化した分析ではなく、建設業・新興国文脈である点は留意が必要。
In the global GX context
This adds emerging-market evidence to the global disclosure literature (TCFD/ISSB/CSRD), showing that integrated reporting mediates the link between firm characteristics and operational efficiency. It is relevant to disclosure-infrastructure scholarship but does not directly address climate-specific disclosure or transition finance.
👥 読者別の含意
🔬研究者:新興国・建設業における統合報告の媒介効果を実証した点が、開示と企業パフォーマンス研究に寄与する。
🏢実務担当者:統合報告・非財務開示の充実が経営効率改善に寄与しうることを示唆するが、気候開示への直接適用は限定的。
🏛政策担当者:開示規制の強化が企業の透明性と効率に与える影響を検討する際の新興国事例として参考になる。
📄 Abstract（原文）
This study aims to analyze the factors affecting the operational efficiency of listed construction enterprises in Vietnam, while testing the mediating role of integrated information disclosure (IRC). Based on agency theory, resource-based theory, Modigliani–Miller theory, and integrated information disclosure theory, the study employs an unbalanced panel dataset from 49 listed construction enterprises during the period 2019–2024. The full dataset comprises 266 firm-year observations, while 260 firm-year observations are available for regressions involving ROA, ROE, and ATO due to lagged financial data requirements. The research methodology combines qualitative methods (focus group discussions to develop the IRC index) and quantitative methods (multivariate linear regression using FGLS combined with Sobel–Goodman mediation testing), with ROA, ROE, and ATO as dependent variables. The results indicate that firm size (Size), revenue growth rate (Growth), financial leverage (Lev), and firm age (Age) all have positive effects on the level of integrated information disclosure. IRC plays a statistically significant mediating role in the relationship between these four factors and operational efficiency. In contrast, the proportion of independent board members (Num) and Big4 auditing (Audit) do not have a significant impact on IRC. The study contributes to clarifying the transmission mechanism of integrated information disclosure in the construction industry within an emerging market context, while providing practical implications for enterprises and regulators to promote information transparency in order to enhance sustainable operational efficiency.
🔗 Provenance — このレコードを発見したソース
- openalex https://doi.org/10.37394/23209.2027.24.1first seen 2026-09-18 04:48:32
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