Exploring the Influence of Corporate Social Responsibility on Capital Structure: Evidence from Vietnam?s Listed Energy Companies

Social responsibility is an issue that enterprises are increasingly adopting due to its recognized benefits. The article utilizes data from 34 energy enterprises listed on the Ho Chi Minh City Stock Exchange and the Hanoi Stock Exchange for the period from 2018 to 2023 to assess the impact of social responsibility on the capital structure of these enterprises. Pooled OLS, FEM, REM and GLS data research methods are used. The research results show that social responsibility has a negative impact on the capital structure of energy enterprises listed on the Vietnamese stock market. When enterprises perform social responsibility effectively, they can mitigate risks, enhance their corporate reputation, attract diverse sources of funding, and reduce their dependence on loans. The research results are meaningful for enterprises and managers in promoting the implementation of social responsibility.