Kỹ Thuật - Công Nghệ - Kinh tế - Quản lý - Dịch vụ - Du lịch NHAN TO ANH HlTOfNG DEN MU^C D Q CONG BO T H 6 N G TIN KE TOAN MOI TRlTOfNG: TRlTOfNG HOfP NGHIEN CtTU TAI CAC CONG TY KHAI K H O A N G NIEM YET T R £ N THI TRlTOfNG CHITNG KHOAN VIET NAM Nguyen La Soa Truang Dgi hgc Cong nghiep Hd Noi Email: soanguyen310383gmail com Nguydn Thi Kim Hu''''dng Dgi hoc Cong nghiip Hd Noi Email: nguyenthikimhuonghaui.edu.vn Tran Thi Thu Huydn Trung Dgi hoc Cong nghiip Hd Ngi Email: lranthithuhuyen(^haui.edu. vn Ngay nhan: 04012019 Ngay nh^n ban siia: 20022019 Ngay duyft dang, 0532019 Tdm tdt: Nghien cicu ndy nhdm ddnh gid nhdn to dnh hung den mice do cong bo thong tin ki todn moi truang. Dd lieu duac thu thdp tic 57 cong ty khai khodng niem yit trin thi trung chimg khodn Viit Nam tic 2013 din 2017. Phuang phdp nghien ciru dinh luang duac su dung nhdm khdm phd cdc nhdn to dnh hung vd ddnh gid muc dp dnh hung cua timg nhdn to din cong bo thong tin ki todn moi trudng. Kit qud cho thdy mirc do cong bo thong tin ke todn moi trung chiu dnh hung bi cdc yiu to: Khd nang sinh lai, don bdy tdi chinh, qui mo doanh nghiep, so ndm niem yit vd kiim todn doc lap. Tii'''' do. nhom tdc gid dua ra nhitng khuyin nghi nhdm hodn thiin cong tdc ke todn moi trung cho cdc cong ty khai khodng Viet Nam. tdng khd ndng cgnh tranh cho cong ty trong dieu kien hoi nhdp todn cdu. Tir khda: Kd tadn mdi trudng, thdng tin, cdng bd thdng lin. cdng ty khai khoang. Ma JEL: M40. Factors influencing the disclosure level of environmental accounting information: The case studies of listed mining Arms on Vietnam Stock Exchange Abstract- This research is to evaluate determinants infiuencing the disclosure level of environmental accounting information. Data were collected from 57 mining firms listed on the Vietnam Stock Exchange for five consecutive years from 2013 to 2017. Quantitative research methods are used to explore the impact factors and assess the influence level of each factor to publishing environmental accounting information. The results indicate that the level of environmental accounting information disclosure is influenced by factors of profitability, financial leverage, firm size, number of listed years and independent auditing. Basing on the results, the authors make recommendations to improve the environmental accounting activities of Vietnamese mining firms to increase the competitiveness in the context of global integration. Keywords: Environment accounting, information, information disclosure, mining firm JEL code: M40 Sd 261 thdng 32019 81 kiiiiilrJ''''liiillrlen 1. Gidi thifu Nganh khai khodng d Viet Nam dd cd nhiing ddng gdp quan trpng cho sy phdt triln ciia dat nudc trong thdi gian qua. Tuy nhien, do dde thu hogt ddng cua ngdnh, boat dgng cdc cdng ly khai khoang da vd dang ed nhixng dnh hudng dang ke den cdng ddng; khdi bui, d nhiem ngudn nudc, khdng khi, chd d... khien van de trdeh nhidm xa hpi ciia doanh nghiep khai khodng dang ngay mdt ndng len. Trudc tinh hinh dd. viec hgch todn, cdng bd vd minh bach cac thdng tin ve kd todn mdi trudng cua cdc doanb nghiep khai khoang Id thuc sy cdn thiet, la bien phdp de cdc edng ty khai khoang nang eao uy tin, hinh anb ciia cdng ty vdi cdc ddi tac trong va ngodi nudc. Nhdn thire dugc tam quan hpng cua hoat ddng nay, cac cdng ty khai khoang Viet Nam da va dang chii hpng ban cho viec thye tbi kl lodn mdi trudng. Tuy nhien, miic dp cdng bd thdng tin ke toan mdi Irudng cua cdc cdng ty khai khoang niem yet tren thj trudng chimg khodn Viet Nam van chua thye su dap iing dugc mong dgi ciia cdc ben lien quan. Vi vay, nhdm nghien ciiu thuc hien de tdi vdi myc dich xem xel, ddnh gid cac nhdn td dnh hudng den miic do cdng bd thdng tin ke todn mdi trudng d cdc cdng ty khai khodng niem yet hen thi tnrdng cbiing khoan Viet Nam. Nghien ciiu gdp phan de xudt djnh hudng vd gidi phdp hiru bieu de thiic day cac cdng ty khai khoang tbyc thi va minh bgch thdng lin ke todn mdi trudng trong Ihdi gian tdi. 2. Tong quan cac nghien CIJU lien quan The gidi dang bj mat cdn bang nghiem trgng giira phat tiien kinh te va bdo ve mdi trudng. Vi vdy, vide doanh nghiep edng bd thdng tin lien quan den mdi trudng tiong bdo cdo thudng nien dd, dang vd se nhan dugc sy quan tdra cdc ben lien quan, cung nhu eac nha nghien cim ndi rieng. Trdn the gidi cd kha nhilu eac nghien ciiu vl thuc hanh ke todn mdi trudng, ciing nbu cdng bd thdng tin ke todn mdi trudng (Ting, 2017). Cac nghien cuu lien quan dupc tdng hgp nhu sau: Nghien cuu vd nhdn Id dnh hudng den muc dp cdng bd thdng tin ty nguyen lien quan den mdi trudng va xa hpi tiong cdc bao cdo tiiudng nien cua cdc loai hinh doanh nghiep khde nhau nhu: Ngdn hang, doanh nghiep vira vd nhd. cdng ly niem yet. doanh nghiep san xudt d Id... Cac nghien ciiu cd the ke den nhu nghien cim ciia Arif Tuhin (2013), Barakat cdng sy (2015), Yang Liang, (2017). Kdt qua nghien ciiu cho thdy eac ydu td nhu: nam cdng tdc, mirc Igi nhugn hdng nam, qui md doanh nghiep, kha ndng sinh ldi, he sd qudn Iy ng va chiing chi ISO 14001 cd anh hudng dang kd den miic dg cdng bd thdng tin ty nguyen lien quan den mdi trudng vd xd hdi eua doanb nghiep, Nghien ciiu vl ydu Id va rao can anh hudng den vide thuc hanb vd cdng bd thdng tin ke toan mdi trudng ciia (Jamil cdng sy, 2015) dd chi ra rang tinh cudng che Id nhan td chii dao ddn den vipe tbyc hdnh ke loan mdi trudng. Han che ve ldi chinh va thidu hudng dan la nhixng rdo can chinh anb hudng den miic dp thye hien kd loan mdi trudng tgi cdc doanh nghiep. Nghien ciiu so sdnh ve mirc dp cdng bd thdng tin trach nhidm mdi trudng va xa hgi giiia cac nhdm cdng ty khac nhau. Nghien cixu cua Barakat cgng su(20l5)dagidi thich rang sy khac nhau ve miic dd cdng bd thdng tin giiia cdc cdng ly Id do he thdng phdp ludt, dac diem hogt dgng ciia cdng ty, ddc diem ciia cdng ty kiem todn dpc lap, ddc diem ciia ban qudn tri doanh nghiep. Cdc nghien cixu d Viet Nam lien quan den ke todn mdi trudng gdn ddy chu yeu Id cdc nghien ciiu ve gidi phdp dp dyng kd toan mdi trudng vao cac loai hinh doanh nghiep khde nhau, nhu: nghien cuu cua Ld Thj T (2017) chi ra rang mixc do dp dung ke loan mdi trudng trong cdc doanh nghipp sdn xudt gach la tuang ddi thdp vd cd mdi quan he mat thiet giixa miic dp tbyc hien kd loan qudn trj cbi phi mdi trudng vdi hidu qud boat dgng kinh doanh ciia doanh nghi?p, Tuy nhien, ngbien ciru chi dimg Igi d ket qud ddnh gia muc dp dp dyng ma chua di sdu phan lich nhdn td dnh hudng. Nghien ciiu cua Nguyen La S Tran Thj Minh T (2017) ve ddnh gia tac ddng cua mirc dp bach loan va cdng bd tbdng tin ke loan mdi irudng din khd ndng tidp can ngudn lai chinh nudc ngaai ciia cdc doanb nghi?p Viet Nam cho Ihdy viec edng bd thdng tin ke toan mdi trudng cd tac dpng kha manh ddn quyet djnh cua nhd ddu tu nudc ngoai. Tir dd tdc ddng den khd nang ticp can ngudn vdn ngoai cua cac Sd 261 thdng 32019 82 kJnlilpAl Irien doanh nghipp. Nghien ciiu ciia Doan Phi Ngpc A Trdn Thj Thai B (2017) da xac djnh cac nhan td anh hudng den mirc do edng bd thdng tin trdeh nhiem xd hpi doanh nghiep gdm: Qui md doanh nghiep, ddn bay tai chinb, qui md ban giam ddc, sy dpc lap ciia gidm ddc didu hanh va kiem loan dgc lap. Tuy nhien, nghien ciiu dugc tbyc hien chung cho tdt cd cdc doanh nghiep thupc cac Iinh vyc khac nhau md khdng tinh de anb hudng cua nganh nghd kinh doanh. Han the niia, nghien cim chua dd cap nhilu den thdng tin kd loan mdi trudng dd dh xudl cdc kiln nghi hoan ihien trong tuang lai. Nguydn La S cdng sy (2017) da chi ra dugc cdc nhdn td anh hudng den kd loan mdi trudng d cac doanh nghiep xay lap niem yet tren thj Irudng chiing khoan Viet nam, hay nghidn ciiu Nguydn La S cpng su (2018) da cbi ra cdc nhan td dnh hudng den ke loan mdi tnrdng ciia cac doanh nghiep mem yet dugc td chirc theo md hinh cdng ty me - cdng ty con. Tuy nhien, cdc nghien ciru ndy dugc tbyc hien cho cac loai hinh doanh doanh nghiep khac nhau vl nganh nghd, ve ddc diem td chiic so vdi cac cdng ty khai khoang. Cdc cdng ty khai khodng d Viet Nam vdi nhirng ddc thii rieng vd dac diem td chiic quan ly, ve dac diem td chirc sdn xuat kinh doanh, ve mixc do tdc dgng den mdi trudng trong qua trinh doanh nghiep, boat ddng san xuat kinh doanh va vdi dgc thii hogt ddng kinh doanh cua cac cdng ty khai khoang dnh hudng den mdi trudng rdt ldn. Vi vay, viec hodn thidn ke loan mdi Irudng d cac doanh nghiep nay Id thye sy cap bach. Do do, nghidn cuu nay la tbyc sy cdn thiet nham nang cao mirc dp minh bgch thdng tin kd loan mdi Irudng ciia cdng ty trong thdi gian tdi va hoan loan khdng triing lap vdi cdc nghien cim trudc. 3. Cff SO" ly thuyet va cac gia thuyet nghien cuii 3.1. Ca s ly thuyet Cac quan diem nghien ciiu vd kd loan mdi trudng deu cho rdng ke todn mdi trudng dugc danh gia dudi hai gdc dg, ve cdng tac ke loan va cdng tdc quan ly mdi trudng. Ben canh chirc ndng hd hg vide ra quydt djnh ndi bg trong boat dpng kinh doanh cua doanh nghipp nhdm hudng muc tieu cdi thien hieu qua hoai dgng lai chinh va hicu qua hoai ddng ve mdi trudng. ke todn mdi trudng cdn cd chuc nang cung cdp thdng tin ra ben ngodi pham vi doanh nghiep din cdc bdn lien quan nhu: Cdc ngdn hdng, to chiic tai chinh, cdc ca quan qudn ly mdi tiixdng, cgng ddng dan cu,... Tir do giiip doanh nghiep (I) tdng khd nang cgnh tranh do xu hudng tidu dimg sdn phdm xanh, sach; (2) tiiay ddi va tdng cudng miic do nhdn thirc, hdnh dgng cua cac td chiic, cdc ben lien quan ddi vdi vdn de mdi trudng trong mdi doanh nghiep va loan bg ndn kinh te, Nhu vay, vide cac doanh nghidp xay Idp niem ydt tren thj trudng chiing khoan Viet Nam cdng bd ddy du, kjp thai va chinh xdc thdng tin kd todn mdi trudng cd vai trd quan tipng khdng chi doi vdi doanh nghiep, nha ddu tu ma cdn ddi vdi ca quan quan ly nhd nude, De gidi thich cho vide edng bd Ihdng tin kd todn mdi trudng cua cdc doanh nghiep, nghien ciiu van dung cac ly thuyet sau: Ly thuyet hgp phap hda vd Irdch nhidm cdng bd thdng tin ke loan mdi trudng - Ly thuyet hap phdp hoa (Legitimacy theory) dugc dinh nghTa bdi Dowling Pfeflfer (1975) nhu sau: "Mpt thuc thd ed the tdn tgi khi md he thdng gia tri cua nd phii hgp vdi he thdng gia tri cua he tbdng xd hdi ldn ban md Ihyc thd do nam trong". Kd thira vd phdt trien ihuyll hap phdp hda, Guthrie Parker (1989) cbo rang ly thuyet hpp phdp boa lien quan den siic manh ciia xd hdi. Cac tdc gid cho rang doanh nghidp kinb doanh trong xd hpi phdi ky ket mdt hgp ddng xa hpi md nhd quan ly ddng y thye bien. Cac dieu khodn ciia hop ddng nay cd the duge the hien rd, do cbinb Id nhixng qui dinh cua ludt phdp, hogc cd nhiing dieu khoan chua dugc the hien rd md phu thudc vdo ky vpng cua cdng ddng xa hdi. Ly thuyet hop phdp boa giai Ihich trdeh nhidm tbyc hien ke loan mdi Irudng cua cac doanh nghiep nhu sau: (I) Cdn thidt phdi thye hidn ke loan mdi irudng xuat pbdt tir xa hdi. tir sy khdng hdi Idng cua Chinh pbu, nhirng ap lyc tir yeu cdu ciia ngudi lao dpng, ngudi lieu diing va cdc ben lien quan (Spasic Slojanovic, 2013), (2) Cdng bd thdng tin vd mdi trudng Id ddng lyc de doanh nghiep dat dugc mong mudn hgp phdp hda cae hoat dgng, thdng qua do de quang bd hinh anh doanh nghiep nhdm mang lai Igi ich cho doanh nghidp (Guthne Parker. 1989). Nbu vdy. cdng bd tbdng tin mdi Irudng cdng khai trong bdo cao thucmg nien Id mdt cdch the hien chien luge eiia doanh nghiep. Chien So 261 thdng 32019 83 kinhleitiiillrien Bang 1: Cac gia thuyet nghien cihi Gid thuyet Mo ta Ky vpng ve dau Hi Quy md cdng ty va miic dp cdng bd tbdng tin ke todn mdi trudng H2 Kha nang sinh ldi vd mirc dp cdng bd tbdng tin ke loan mdi trudng H3 Ddn bdy tdi chinh va miic do cdng bd thdng tin ke todn mdi trudng H4 Thdi gian niem ydt vd muc dp cdng bd thdng tin ke todn mdi trudng H5 Kilm loan ddc Idp va miic do cdng bd tbdng tin ke loan mdi trudng Nguon: Tong hgp cda nhom nghien ciru. luge nay ngu y rdng doanh nghiep dang hogt ddng hpp phap va cd trach nhiem vdi xa hgi. Ly thuyit cdc bin liin quan vd trach nhiem cong bo thong tin ki todn moi trung: Ly thuyet cdc ben lien quan (Stakeholder theory) dugc bat ngudn bi quan diem lgi ich kinh td trong mgi hanh dpng ciia nhd kinh tl hpc Freeman (Guthrie Parker, 1989). Theo do, tat cd cdc ben lien quan bj dnh hudng bdi mpi hdnh vi cua doanh nghiep, bao gdm cd ddng, nha cung cdp, khdch bang, nhdn vien, ddi tbu cgnh tranh, cae nha hpat dpng xa hpi, truyen thdng, cdc nhd lap phdp, cac hpc gia, ngudi ddn bdn dia, td chirc lao dgng, chinh quyln dia phuang vd Chinh phii. Dya trdn ly thuydt ve cdc bdn lien quan, Ullmarm (1985) da gidi thicb: Ndu ben lien quan kiem sodt nguon luc quan trgng cua doanh nghiep, thi doanh nghidp se tim each de thda man nbu cau cua hp. Cdng bd tbdng tin vl mdi trudng dupc xem la chien luge qudn tii bieu qud nhdm giai quyet mdi quan he va thda man nhu eau vdi cdc ben lien quan. Mat khac, nghien ciiu cua Tauehen (1986) vd Chiu Wang (2014) chi ra rdng ty sudt lgi nhudn Iren vdn chu (ROE) dnh hudng thuan chilu vd ty Id ng tren vdn chii anh hudng ngugc chieu vdi cdng bd thdng tin ve mdi trudng. Li'''' thuyet quan he lai ich - chi phi vd muc do cong bo thong tin ki todn moi truang: Ly thuyet quan he chi phi - lgi ich (Cost benefit theory) ehi ra rdng lgi ich cd duge tir viee cdng bd thdng lin kd todn mdi trudng phdi dugc xem xet trong mdi quan he vdi chi phi dimg de tao ra va cung cdp tbdng tin dd (Yang Liang, 2017). Nhu vdy, miic dp cdng bd thdng tin kl toan mdi trudng phdi duge xem xet giiia Ipi ich tdng thdm khi thuc hien viec cdng bd thdng tin dd mang lai cho doanh nghiep va xa hpi vd chi phi tang them md doanh nghiep vd xd hdi phai bd ra khi thye bipn nhiem vu nay. 3.2. Xdy dung gid thuyit nghien ciru Tren ca sd tdng quan cdc nghien ciiu thye nghiem hen the gidi va trong nudc vd cac nhan td dnh hudng den mixc dp cdng bd thdng tin ke loan mdi trudng, ciing phdn ngbien cuu cac ly thuyet ndn lien quan den mirc dd cdng bd thdng tin ke todn mdi trudng. Nhdm nghien da tdng hgp cae nhdn Id dnh hudng den miic dp cdng bd thdng tin kl loan mdi trudng nhu sau: Quy mo doanh nghiip (SIZE) Quy md doanh ngbiep eang ldn thi xu hudng edng bd thdng lin ke toan mdi trudng cang nhieu. Cdc doanh nghipp ldn ludn ty tin ve trien vpng ciia minh, do do hp thudng san sdng bd chi phi de thye hidn cdng khai them nhieu thdng lin tu nguyen nhdm tao ra su khac biet so vdi eac doanh nghiep ddi thu va lam gia tang gid trj ciia doanh nghiep (Jamil Bdng 2: Cac muc cdng bo thong tin mdi trudng bat bupc So muc STT 1 2 3 4 "i 6 V^t lieu Nang luong Nuac Da dang sinh hpc Phat thai Nuoc thai vii chat thai 2 5 3 4 7 5 7 8 9 10 11 12 Thong tin ve nhan san pham va dich vy Tuan thu Van chuyen Tong the Danh gia nha cung cap ve moi tmong Co che khieu n^i ve moi tnrone 2 1 1 1 2 1 Nguon- Tong it^rp cua nhom nghien cint. Si 261 thing 32019 klDhld''''haiim Bdng 3: Cdch danh gia mirc dp cong bh thdng tin mdi trujrag Mifc dp cong bo thdng tin Piem so Thdng tin cdng bd vira d dgng dinh lupng vira d dang djnh tinh 4 Chi cdng bd dmh tinh, khdng cdng bd djnh lugng 3 Cd thdng tin dinh lupng cd hien vat va gia tri, khdng cd thdng tin djnh tinh 2 Cd tbdng tin dnh lupng ve gia trj, khdng cd hien vat va dinh tinh I Khdng cdng bd thdng tin 0 Nguon: Tong h