Download or read book The Impact of Firm Ownership Structure on Voluntary Disclosure written by Anil K. Makhija and published by . This book was released on 1997 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We investigate the impact of ownership structure on the extent of voluntary financial disclosure by examining the cross-sectional variation in the extent of disclosure in 1993 annual reports of newly privatized non-financial Czech firms included in the Prague stock Exchange 50 Index. A study of this sample forms a unique natural experiment to examine the impact of ownership on disclosure because the firms' ownership structures were exogenously set during the period studied and because the Czech accounting regime provided for great flexibility in the annual report disclosure choices of firms in 1993. In our conceptual model, owners derive benefits both directly from the firm and from changes in share values in the capital market. Both types of benefits are affected by the extent of disclosure made by the firm. We derive testable hypotheses regarding the effect of ownership on extent of disclosure based on owners' attempts to maximize their total benefits from ownership. As predicted by our hypotheses, we find that concentration of ownership and the size of stakes held by internal and external owners significantly affect the extent of disclosure, after controlling for non-ownership factors.

Download or read book Ownership Structure and Voluntary Disclosure written by Hichem Khlif and published by . This book was released on 2017 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In this article, we meta-analyse 69 empirical studies assessing the association between corporate voluntary disclosure and ownership concentration and types, and how institutional characteristics and research design moderate these relationships. Our overall analyses show that state, foreign and institutional ownerships have a positive effect but managerial ownership and ownership concentration have a negative effect on voluntary disclosure. Since the overall effect may conceal the underlying factors that cause heterogeneity in the effect size distribution, we select two important institutional factors: country-level investor protection and the equity market development, and research design and journal quality, to explain the mixed and conflicting findings. Our results emphasise the need to consider legal and institutional characteristics, and researcher induced-artefacts, in understanding the role of ownership structure and identity in corporate voluntary disclosure.

Download or read book Voluntary Disclosure and Ownership Structure written by Surjit Tinaikar and published by . This book was released on 2010 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study focuses on the association of voluntary compensation disclosure and ownership structure. It provides evidence that the detachment of control and cash flow rights in dual class share firms is associated with lower levels of compensation disclosure. This association is incremental to the level of managerial ownership and family ownership. The study attributes these disclosure results to the political costs of high compensation levels in dual class share firms. Consistent with this explanation, the study finds that managers in dual class share firms earn higher compensation relative to their single class counterparts. To examine the research question, the study develops a new compensation disclosure index that has been unexplored in prior academic literature. An analysis within dual class firms reveals that compensation disclosure is decreasing in managers' voting control but increasing in their cash flow rights. This is consistent with a political cost explanation.

Download or read book The Limits of Corporate Power written by Ira M. Millstein and published by Beard Books. This book was released on 2003 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a reprint of a previosly published work. It deals with the constraints on corporate decison making.

Download or read book Corporate Governance and Its Implications on Accounting and Finance written by Alqatan, Ahmad and published by IGI Global. This book was released on 2020-09-25 with total page 425 pages. Available in PDF, EPUB and Kindle. Book excerpt: After the global financial crisis, the topic of corporate governance has been gaining momentum in accounting and finance literature since it may influence firm and bank management in many countries. Corporate Governance and Its Implications on Accounting and Finance provides emerging research exploring the implications of a good corporate governance system after global financial crises. Corporate governance mechanisms may include board and audit committee characteristics, ownership structure, and internal and external auditing. This book is devoted to all topics dealing with corporate governance including corporate governance characteristics, board diversity, CSR, big data governance, bitcoin governance, IT governance, and governance disclosure, and is ideally designed for executives, BODs, financial analysts, government officials, researchers, policymakers, academicians, and students.

Download or read book Voluntary Disclosure and Ownership Structure Among Saudi Arabia Companies written by Mahfoudh Hussein Hussein Mgammal and published by . This book was released on 2011 with total page 79 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book International Accounting and Multinational Enterprises written by Lee H. Radebaugh and published by John Wiley & Sons. This book was released on 2006-01-04 with total page 520 pages. Available in PDF, EPUB and Kindle. Book excerpt: This text presents international accounting within the context of managing multinational enterprises, focusing on business strategies and how accounting applies to these strategies. This unique approach gives students the opportunity to learn about international accounting from a perspective similar to what they will experience in the business world. The book explains the key factors that influence accounting standards and practices in different countires, and how those factors impact the convergence of standards worldwide. Particular emphasis is given to culture and its unique contribution to accounting standards and practices worldwide. The book focuses on the needs of users of financial and accounting information across borders with the aim of enhancing their understanding of how to use information and make more informed decisions in an increasingly complex and dynamic international business environment.

Download or read book Corporate Governance in Less Developed and Emerging Economies written by Matthew Tsamenyi and published by Emerald Group Publishing. This book was released on 2008-12-01 with total page 565 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate governance reform has become an important global policy agenda driven by events such as the 1997 Asian financial crisis, corporate scandals (such as Enron and WorldCom) and the globalisation of capital markets. This book advances debate on corporate governance, accountability and transparency in less developed and emerging economies.

Download or read book Voluntary Disclosure and Ownership Structure written by Victoria Bogdan and published by . This book was released on 2009 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: Our study aims to investigate the voluntary disclosure practices among Romanian listed companies, to measure the voluntary disclosure and to analyze the influence of ownership structure on the extent of voluntary disclosure of these companies. The population studied in our work is constituted of the first and second tiers listed on the Bucharest Stock Exchange and the sample is made up by the top fifteen listed companies selected after market capitalization. We have chosen the top fifteen companies starting from the hypotheses already tested in previous research that companies' size is an important predictor of corporate disclosure behaviour and large companies traded on a capital market should have the most complete annual reports and a larger range of voluntary information disclosed. The results of our exploratory investigation showed a low level of voluntary disclosed information by the selected companies. In order to test the association between ownership structure and the extent of voluntary disclosure we have drawn up three hypotheses. The figures have conducted us to the conclusion that companies' with a majority of institutional shareholders are disclosing more voluntary information. We are aware of the limits of our research; in the mean time we are convinced of this research necessity, knowing that there is a lack of this type of empirical studies in the domestic accounting literature.

Download or read book Ownership Structure and Voluntary Earnings Disclosures written by Faten Lakhal and published by . This book was released on 2007 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the relationship between ownership structure and voluntary earnings disclosures under high ownership concentration of French-listed firms from 1998 to 2001. The results using multinomial regression analysis show that French-listed firms are less likely to make voluntary earnings disclosures when they are controlled by a large shareholder or by a family, suggesting that low legal protection leads to expropriation of minority shareholders. The proportion of foreign institutional investors in capital is likely to mitigate this relationship since institutional investors signal good minority shareholders' protection to the market. Finally, French managers occasionally make voluntary disclosures when their firms are doing well, suggesting that they disclose information to benefit from stock prices increases.

Download or read book Corporate Boards Ownership Structures and Corporate Disclosures written by Abdalrhman Alnabsha and published by . This book was released on 2017 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: Purpose: This paper investigates the effect of corporate board attributes, ownership structure and firm-level characteristics on both corporate mandatory and voluntary disclosure behaviour in annual reports of Libyan firms.Design/methodology/approach: Multivariate regression techniques are used to estimate the effect of corporate board and ownership structures on mandatory and voluntary disclosures of a sample of Libyan firms between 2006 and 2010.Findings: First, we find that board size, board composition, the frequency of board meetings and the presence of an audit committee have an impact on the level of corporate disclosure. Second, this study finds an evidence that director ownership, foreign ownership, government ownership and institutional ownership have a non-linear effect on the level of corporate disclosure. Finally, we find that firm age, liquidity, listing status, industry type and auditor type are positively associated with the level of corporate disclosure.Limitation: Future research could investigate disclosure practices using other channels of corporate disclosure, such as corporate websites. Useful insights may be offered also by future studies by conducting in-depth interviews with corporate managers, directors and owners regarding these issues.Implication: Investors may also rely on such corporate governance characteristics to shape expectations about voluntary and/or mandatory information disclosure. Originality/value: Existing disclosure studies have mainly examined governance and voluntary disclosure relationship in non-listed firms. Our study, therefore, extends, as well as contributes to the existing literature by the examining the governance-disclosure nexus relating to both mandatory and voluntary disclosures in both listed and non-listed firms.Paper type: Research Paper.

Download or read book Ownership Structure Board Attributes and the Level of Voluntary Disclosure in GCC Listed Firms written by Noorah Aljabr and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Corporate Governance of Family Firms and Voluntary Disclosure written by Achmad Tarmizi and published by . This book was released on 2007 with total page 458 pages. Available in PDF, EPUB and Kindle. Book excerpt: Weakness in corporate governance and lack of transparency are often considered causes of, or contributors to, the Asian Financial Crisis. Publicly listed companies in Indonesia, like other Asian firms, have a concentrated ownership structure. Focusing on manufacturing firms listed on the Jakarta Stock Exchange (JSX) for the year 2003, this study adopts an agency framework to examine voluntary disclosures included in the annual reports of 149 Indonesian firms and their relationship to various attributes such as: ownership structure; whether a firm is family-owned or not; the owner's involvement in either the Board of Commissioners or Board of Directors; and whether the firm is affiliated with a business group. The results mostly support the notion that ownership structure affects the extent of disclosure in annual reports. First, the results show that, compared to firms with a nonmajority ownership structure, voluntary disclosure is lower in firms with a majority ownership structure. Second, the results indicate that family owned firms are more likely to exhibit lower voluntary disclosure than are non-family owned firms. Third, the analysis shows that, among family firms, firms with a majority (compared to those with a non-majority) ownership structure are more likely to have lower levels of voluntary disclosure. Fourth, the results indicate that, among family firms, firms affiliated with a business group are more likely to make lower voluntary disclosures than independent firms. In contrast, the empirical analysis failed to support the hypothesis that, among family firms, voluntary disclosure would be lower in firms where the owners are involved in the Board of Commissioners compared to those where there is no owner involvement in the Board of Commissioners. Similarly, the results failed to support the hypothesis that, among family firms, voluntary disclosure would be lower in firms where the owners are involved in the Board of Directors compared to those where there is no owner involvement in the Board of Directors. Robustness checks performed using alternate measures of disclosure and the degree of ownership structure did not substantially change the conclusions. This thesis contributes to our understanding of how family firms are governed and the impact of corporate governance on a firm s level of voluntary disclosure. The results have implications for policy makers and regulators in Indonesia striving to improve corporate governance and transparency.

Download or read book The Impact of Ownership Structure and Family Board Domination on Voluntary Disclosure for Jordanian Listed Companies written by Ayman E. Haddad and published by . This book was released on 2016 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study investigates the impact of ownership structure and family board domination on voluntary disclosure for Jordanian listed companies. Ownership structure is characterised by government ownership, outside ownership, managerial ownership and number of shareholders. This study is based on a cross-sectional examination of the effect of corporate ownership structure and family domination on voluntary disclosure after controlling other variables for 57 non-financial Jordanian companies listed on the Amman Stock Exchange. The multiple regression results show that the extent of voluntary disclosure is positively associated with government ownership and negatively associated with the proportion of shares held by management. Furthermore, we show that family domination is a significant factor in explaining variations in voluntary disclosure. We conclude that government ownership can help to promote transparency, but it has not yet eliminated the influence of management and the family control of boards on disclosure. However, outside ownership and number of shareholders are not associated with voluntary disclosure.

Download or read book The Effects of Voluntary Disclosure Level Ownership Structure and Proprietary Cost on the Return earnings Relation written by Shuqing Luo and published by . This book was released on 2003 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Econometrics of Corporate Governance Studies written by Sanjai Bhagat and published by MIT Press. This book was released on 2005 with total page 138 pages. Available in PDF, EPUB and Kindle. Book excerpt: An investigation of the relationships among takeovers, takeover defenses, management turnover, corporate performance, corporate capital structure, and corporate ownership performance.

Download or read book Corporate Governance and Organisational Performance written by Naeem Tabassum and published by Springer Nature. This book was released on 2020-06-28 with total page 335 pages. Available in PDF, EPUB and Kindle. Book excerpt: Establishing a corporate governance strategy that promotes the efficient use of organisational resources is instrumental in the economic growth of a country, as well as the successful management of firms. This book reviews existing literature and identifies board structural features as key variables of an effective corporate governance system, establishing a multi-theoretical model that links Board structural characteristics with firm performance. It then, using a comprehensive empirical study of 265 companies listed on the Karachi Stock exchange, tests this conceptual model. This research serves as a significant milestone, reflecting the socio-economic setting of emerging economies, and highlighting the need for the corporate sector in emerging markets to move away from a 'tick-box' culture. It argues that the sector needs to implement corporate governance as a tool to mitigate business risks; appoint and empower non-executive directors to achieve an effective monitoring of management; and establish their own ethical and governance principles, applicable to the Board of Directors. Based on an extensive data base, collected painstakingly over five years, this book offers new insights and conceptual framework for further research in this area. Given the breadth and width of the research, it is a useful source of future reference for students, researchers and policy makers.