Model on Stakeholder Risks Disclosure in Corporate Reporting for Oil and Gas Companies in the Republic of Vietnam

Nataliya A. Kazakova and Thi L. Doan
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Nataliya A. Kazakova: Basic Department of Financial and Economic Security, Plekhanov Russian University of Economics, Moscow, Russia.
Thi L. Doan: Basic Department of Financial and Economic Security, Plekhanov Russian University of Economics, Moscow, Russia.

International Journal of Energy Economics and Policy, 2021, vol. 11, issue 6, 206-211

Abstract: The purpose of this study was to develop a draft standard model of corporate social reporting, which ensures the disclosure of risks in the activities of oil and gas companies, considering the interests of various groups of stakeholders. The current study covered a retrospective of many studies conducted by international and public organizations for the period from 2015 to 2020, which made it possible to identify issues and trends in disclosure, the relevance of the information for stakeholders, and prospects for standardizing approaches. Taking these results into account, the study developed an approach that considers the level of influence and interests of different stakeholders, based on the proven postulates that shareholders and investors have the greatest influence and interests in the company; state and local authorities have the strongest influence on the company but have low interests in its business activities; residents and society have high interests, but the least impact on the company. The finding of this study is a developed risk-oriented model for disclosing sustainable development indicators in corporate reporting of the oil and gas industry which is proposed for further adaptation and implementation at Petrolimex in Vietnam.

Keywords: corporate reporting; stakeholder interests; risk; oil and gas company; sustainable development (search for similar items in EconPapers)
JEL-codes: M41 (search for similar items in EconPapers)
Date: 2021
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