Abstract
The objective of this study is to clarify the impact of corporate social responsibility (CSR) on the financial performance of telecommunications companies in Vietnam. While previous research has predominantly examined sectors such as finance, banking, insurance, manufacturing, and real estate, studies focusing on CSR practices within the telecommunications industry remain limited. This gap is noteworthy, as telecommunications enterprises are inherently connected to critical factors such as environmental sustainability, social welfare, employee well-being, and business ethics. This paper aims to address the aforementioned research gap by drawing on the CSR theoretical framework proposed by Bowen (2013), in combination with the stakeholder theory developed by Freeman (1999). The primary data were collected by the authors between June 2025 and September 2025, while the secondary dataset comprises information from 18 telecommunications companies tracked over a 12-year period, from fiscal year 2013 to the end of fiscal year 2024. Using a quantitative research design and a PLS-SEM structural modelling approach, the authors conducted the analysis with SPSS and AMOS 20. The findings indicate that corporate social responsibility (CSR) exerts a significant positive influence on the financial performance of telecommunications companies. The findings highlight that enhancing corporate financial performance requires telecommunications companies to strengthen their commitments to community responsibility and employee-related responsibility. Based on these results, the authors propose several solutions to improve financial efficiency, including increasing social responsibility initiatives and implementing measures aimed at enhancing employee welfare and organisational responsibility.