This study examines the association between CEO duality, CEO ownership and financial footnotes readability. The data were collected from 1,469 non-financial firms listed on the Indonesian Stock Exchange (IDX) between 2010 and 2018. Using ordinary least squares (OLS) regression, this study unveiled a negative and significant relationship between CEO duality and financial statement footnotes. In addition, the relationship between CEO ownership and financial statement footnotes is positive and significant. Furthermore, this indicates that CEO duality expands the embarrassment and provokes opportunistic behaviour from the CEO to prioritize personal interests by exploiting potential company resources to weaken the independence of the CEO. Hence, the readability of financial footnotes is undecipherable. On the other hand, CEO ownership is more responsible for improving corporate performance, so more financial statement footnotes are readable. Therefore, this study contributes to the literature on seeking the understanding of the readability of a firm's written communication in emerging countries.

This study aims to examine the relationship between family involvement and the readability level of the MD & A (Management Disclosure & Analysis) released by the company. This study uses 1795 final samples from firms listed on the Indonesia Stock Exchange in the period 2010-2018. We tested the research hypothesis using ordinary least square regression (OLS). This was done using the Stata software by adding a fixed effect for industry diversity in order to strengthen the study results. This study used two proxies of the family firm where there is the involvement of family members at the management level and related to the ownership of company shares. Both of these proxies show consistent results indicating that family firms tend to release less readable MD&As. Furthermore, the language differences were also tested in this study. Apart from the presentation of the MD&A in English or Indonesian, family firms still present reports with lower readability. This study provides a perspective to the authorities regarding the family firm's governance intended to help improve existing regulations.

This research examined the relationship between politically connected companies and the readability of the company's MD&A. Our results show that in the Indonesian setting, the experience of parliamentarians (DPR, MPR), regional heads and local government officials at the company executive level plays an important role in the readability of a company's Management Discussion & Analysis (MD&A). Based on self-presentation theory, we suspect that companies with political connections make it possible to make the disclosures on the company's MD&A easy to read because the management with political connections puts forward their image in the stakeholders' eyes. The narrative that is conveyed is easier to understand as a result. Besides this, management who come from the political circle have the talent and expertise of managing their image in the public eye, thus enabling the management to convey the narrative on MD&A in a way that is easy to read for reasons of concealing the company performance or maintaining their image. We also tested the endogeneity effect using Coarsened Exact Matching Regression (CEM) to confirm our findings and obtained the same result as our previous assumption - that politically connected companies have an MD&A that is easy to read.

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