Corporate governance attributes, firm characteristics and the level of corporate disclosure: Evidence from the Indian listed firms

Abstract

This study investigates the association between firm characteristics, corporate governance attributes and the level of corporate disclosure of listed firms in India. The research paper has been based on a sample of 60 firms listed in the Bombay Stock Exchange (BSE) / National Stock Exchange (NSE) during the study period from 2000-01 to 2009-10. The study has used the Standard & Poor (2008) model for measuring the level of corporate disclosure. To examine the association between explanatory variables and the level of corporate disclosure, multiple regression model has been used. The results suggest a positive relationship between board size, ratio of audit committee members to total board members, family control, CEO duality, firm size, profitability, liquidity and the extent of corporate disclosure. However, the degree of corporate disclosure is negatively related to board composition, leverage and age of the firm.

Factors Influencing the Voluntary Disclosure of Vietnamese Listed Companies

“…Profitability and the extent of voluntary disclosure. Empirically, previous studies find a positive association between profitability of the company and the level of voluntary disclosure (Vu, 2012;Nandi & Ghosh, 2013;Zhang, 2013). A company with high profitability tends to enter the voluntary disclosure with the aim to distinguish themselves from companies with low profitability, to increase the stock price, and to mobilize capital more easily.…”

“…To date, there have been several studies of various researchers around the world on the relation between the board independence and the level of voluntary disclosure. Vu (2012), Sukthomya (2011), Alves et al (2012), Nandi and Ghosh (2013), Lan et al (2013), Al-Janadi et al (2013), andQu (2011) revealed that the proportion of independent directors on corporate board is an important aspect associated positively with voluntary disclosure. The hypothesis in this study is proposed as follows:…”

“…To date, there have been a number of researches in developed and developing countries to measure corporate disclosure on financial and non-financial companies, for example: Al-Janadi, Rahman, and Omar (2013); Alves, Rodrigues, and Canadas (2012); Barako (2007) ;Bilal, Tufail, Khan, Abbas, and Saeed (2013);Botosan (1997) ;Fekete, Matis, and Lukács (2008); Healy and Palepu (2001); Hossain and Hammami (2009) ;Ianniello, Mainardi, and Rossi (2013); Jensen and Meckling (1976); Leng and Ding (2011);Li and Zhao (2011);Li and Qi (2008);Lokman (2011);Nandi and Ghosh (2013); Omran and Abdelrazik (2013);Rouf (2011);Sukthomya (2011);Vu (2012);Qu (2011);Lan, Wang, and Zhang (2013);. A few of their studies will be chosen to help understand the nature, methodology, and findings of this study.…”

“…Due to these corporate failures, the importance of corporate disclosure has been increasing day by day. Annual report is the most important medium of the reported transparency (Nandi & Ghosh, 2013). Low transparency and information asymmetry have a common connection.…”

An analysis of determinants of going concern audit opinion: Evidence from Tehran Stock Exchange

“…They also recommended that the unremunerated reserve requirement could influence asset prices, through larger exchange rate volatility and through changes in exposure of firms to exchange rate volatility. Nandi and Ghosh (2013) investigated the association between firm characteristics, corporate governance attributes and the level of corporate disclosure of listed firms in India. The research paper has been based on a sample of 60 companies listed in the Bombay Stock Exchange (BSE) / National Stock Exchange (NSE) during the study period from 2000-01 to 2009-10.…”