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A Case Study of Voluntary Disclosure by Chinese Enterprises
Desmond C.Y. Yuen; Ming Liu; Xu Zhang; Chan Lu
2009
Source PublicationAsian Journal of Finance & Accounting
ISSN1946-052X
Volume1Issue:2Pages:118-145
Abstract

This study examines the impact of ownership features, corporate governance mechanisms, and firm-specific characteristics on the voluntary disclosure provided by publicly-listed companies on the Shanghai Stock Exchange in China. The ownership structure features and corporate governance mechanisms include (1) concentration of ownership; (2) ownership by state and state-related institutions; (3) individual ownership; (4) the chief executive officer is also the chairman of the board of directors; (5) board independence, and (6) the existence of an audit committee. The firm-specific characteristics are (1) firm size; (2) leverage; (3) profitability, and; (4) type of industry. With the use of a relative disclosure index for measuring the voluntary disclosure level, our results indicate that individual ownership, the existence of an audit committee, firm size, and leverage, including board structure and functioning, employee information, director‟s remuneration, the presence of an audit committee, related party transactions, and stakeholders‟ interests, are significantly related to the extent of voluntary disclosure. This study provides empirical evidence for Chinese policy makers and regulators to improve corporate governance mechanisms and transparency of publicly-listed companies. The findings also contribute to an understanding of disclosure behavior among former wholly state-owned enterprises during the privatization process in China.

KeywordVoluntary Disclosure Audit Committee Disclosure Index Firm-specific Characteristic Corporate Governance
DOIhttps://doi.org/10.5296/ajfa.v1i2.121
Language英语
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Document TypeJournal article
CollectionDEPARTMENT OF ACCOUNTING AND INFORMATION MANAGEMENT
Corresponding AuthorDesmond C.Y. Yuen
AffiliationFaculty of Business Administration, University of Macau Avenida Padre Tomás Pereira, Taipa, Macau, China
First Author AffilicationFaculty of Business Administration
Corresponding Author AffilicationFaculty of Business Administration
Recommended Citation
GB/T 7714
Desmond C.Y. Yuen,Ming Liu,Xu Zhang,et al. A Case Study of Voluntary Disclosure by Chinese Enterprises[J]. Asian Journal of Finance & Accounting,2009,1(2):118-145.
APA Desmond C.Y. Yuen,Ming Liu,Xu Zhang,&Chan Lu.(2009).A Case Study of Voluntary Disclosure by Chinese Enterprises.Asian Journal of Finance & Accounting,1(2),118-145.
MLA Desmond C.Y. Yuen,et al."A Case Study of Voluntary Disclosure by Chinese Enterprises".Asian Journal of Finance & Accounting 1.2(2009):118-145.
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