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The more transparent information is, the better business performance is

By Bao Minh/Ngoc Loan

By Bao Minh/Ngoc Loan

See the author's posts
13:12 | 05/11/2020 Finance Follow english.haiquanonline.com.vn on
VCN- The Hanoi Stock Exchange (HNX) recently released a report on the results of the programme on quality assessment of information disclosure and transparency in 2020.
Hanoi Stock Exchange: Ready for steps of consolidation Hanoi Stock Exchange: Ready for steps of consolidation
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The score of information disclosure and transparency was closely connected with earnings

The programme on quality assessment of information disclosure and transparency in 2020 selected 278 large-cap firms, an increase of 41 enterprises (surged 17.3% year-on-year). These are firms registered transactions before April 20, 2019.

Average disclosure and transparency scores of large-cap firms on HNX in 2019-2020 reached 58.01%, and 219 of 278 large-cap firms hadtheir score higher than the average level. The score of the large-cap firms on UPCoM large reached 58.42%.

According to the HNX, large-cap firms further focus on implementing the compliance criteria with a score of 62.08%. Meanwhile, conventional criteria arestill low and less than the average level, reaching 33.75%.

Firms with higher State ownership performed better in disclosing their information.

Notably, large-cap firms with the chairman of the board of directors not acting as general director had anaverage result of information disclosure and transparency of 58.75%, better than those with chairmen also as the firm’s CEO of 53.48%.

The average score of large-cap firms that set up sub-boards of directors under the provisions of Circular 155 reached 64.13%, meanwhile the score of large-cap firms without sub-boardsof directors reached 57.61%. In addition, average score of the large-cap firms that had internal rules of corporate governance was60.82%, higher than those without the rules of 55.36%.

According to HNX, the score of information disclosure and transparency was closely connected with earnings, which was evaluated upon firms’ return-on-equity (ROE) and return-on-asset (ROA) ratios. A ROA growth rate of 0.1 per cent and ROE growth rate of 0.12 per cent mean the firm’s score gained 1 per cent.This is good evidence to encourage and boost firms to better comply with regulations and practices on information disclosure and transparency.

By Bao Minh/Ngoc Loan
Tags:
transparent disclosure large-cap firms UpCOM

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