SOCIAL ACCOUNTING IN VIETNAM: A STUDY OF ITS IMPORTANCE

Abstract

Over recent years, the role of business organizations within society has received increasing attention, and the expectations towards these organizations have increased accordingly. The term that has been coined for these expectations is corporate social responsibility (CSR) or social accounting (SA) (Schouten and Remme 2006). Nowadays, it is generally recognized that SA is of strategic importance to ensure long-term business competitiveness and success. Its potential is enormous in the areas of employee performance, cooperation among other stakeholders (business partners, investors, consumers, suppliers) and an engine of economic growth (Lamy 2002). So, the stakeholders’ views on SA performance of business are enormous, and the key responsibility in this performance goes to the managers, consumers, investors. This paper examines the perception of manager, consumer and investor on SA performance of corporations in Viet Nam. The results of the study suggest that there is strong support for SA from managers and a growing awareness among consumers and investors. Nevertheless, the difference between the way people understand and their action caused they are not eager to support for SA issues such as lack of SA system from firm, some relevant barriers (living expenses, low CSR communication tools). However, with highly positive attitude toward SA and the willingness to learn about SA of people, SA concept and practice will be popular and developed further in the future.