Abstract

http://ssrn.com/abstract=1894570
 


 



A Case Study of Voluntary Disclosure by Chinese Enterprises


Chun Yip Yuen


University of Macau - Faculty of Business Administration

Ming Liu


Hong Kong Baptist University (HKBU) - Department of Accounting & Law

Xu Zhang


University of Macau

Chan Lyu


University of Macau

April 30, 2008

Asian Journal of Finance & Accounting, Vol. 1, No. 2, 2009

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.

Number of Pages in PDF File: 28

Keywords: Voluntary disclosure, Corporate governance, Audit committee, Disclosure index, Firm-specific characteristic

JEL Classification: M40, M41, M48

Accepted Paper Series





Download This Paper

Date posted: July 25, 2011  

Suggested Citation

Yuen, Chun Yip and Liu, Ming and Zhang, Xu and Lyu, Chan, A Case Study of Voluntary Disclosure by Chinese Enterprises (April 30, 2008). Asian Journal of Finance & Accounting, Vol. 1, No. 2, 2009. Available at SSRN: http://ssrn.com/abstract=1894570

Contact Information

Chun Yip Yuen (Contact Author)
University of Macau - Faculty of Business Administration ( email )
Macau
Ming Liu
Hong Kong Baptist University (HKBU) - Department of Accounting & Law ( email )
Kowloon Tong, Kowloon
Hong Kong
Xu Zhang
University of Macau ( email )
Macau
Chan Lyu
University of Macau ( email )
P.O. Box 3001
Macau
Feedback to SSRN


Paper statistics
Abstract Views: 773
Downloads: 174
Download Rank: 103,222

© 2014 Social Science Electronic Publishing, Inc. All Rights Reserved.  FAQ   Terms of Use   Privacy Policy   Copyright   Contact Us
This page was processed by apollo8 in 0.297 seconds