Director Ownership and Voluntary Segment Disclosure: Hong Kong Evidence

Leung, Sidney; Horwitz, Bertrand

doi:10.1111/j.1467-646x.2004.00109.x

Cited by 141 publications

(112 citation statements)

References 31 publications

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“…This finding supports the statement by Jensen and Meckling (1976) that directors ownership helps to match the interests between directors and shareholders. The finding also illustrates that institutional ownership significantly influences the extent of CSR reporting, which reinforces the findings of Leung and Horwitz (2004) and Nasir and Abdullah (2004). Through their power, institutional owners are able to influence management on CSR practices (Shleifer and Vishny, 1997).…”

Section: Regression Analysissupporting

confidence: 78%

“…Directors' ownership enhances CSR reporting, with similar findings reported by Leung and Horwitz (2004) and Nasir and Abdullah (2004). This finding supports the statement by Jensen and Meckling (1976) that directors ownership helps to match the interests between directors and shareholders.…”

Section: Regression Analysissupporting

confidence: 75%

“…This study is conducted at a time when the issue of independent directors is central to effective corporate governance. Leung and Horwitz (2004) report that a positive relationship exists between board independence and voluntary segment disclosure for companies listed in Hong Kong. Cheng and Courtenay (2006) document a positive relationship between board independence and voluntary disclosure for 104 Singapore companies.…”

Section: Literature Review and Research Questionsmentioning

confidence: 99%

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Board Independence and Corporate Social Responsibility (CSR) Reporting in Malaysia

Ahmad¹

2017

AABFJ

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This study aims to examine the influence of board independence on corporate social responsibility (CSR) reporting by publicly listed companies in Malaysia. Content analysis was used to determine the extent of CSR reporting. A reporting index consisting of 51 items was developed based on six themes: General, Community, Environment, Human Resources, Marketplace and Other. An Ordinary Least Square (OLS) regression was used to examine the relationship between board independence and firm CSR reporting. The results indicate that the association between board independence and company CSR reporting is industry specific. Overall, the empirical evidence partially supports agency theory. KeywordsAgency Theory, CSR, Board Independence, Malaysia AbstractThis study aims to examine the influence of board independence on corporate social responsibility (CSR) reporting by publicly listed companies in Malaysia. Content analysis was used to determine the extent of CSR reporting. A reporting index consisting of 51 items was developed based on six themes: General, Community, Environment, Human Resources, Marketplace and Other. An Ordinary Least Square (OLS) regression was used to examine the relationship between board independence and firm CSR reporting. The results indicate that the association between board independence and company CSR reporting is industry specific. Overall, the empirical evidence partially supports agency theory IntroductionCompanies have reported on their Corporate Social Responsibility (CSR) obligations for more than three decades (Deegan, 2013). The notion of CSR requires companies to consider the social, economic and environmental consequences of their operations and suggests that they address the needs and expectations of stakeholders such as investors, customers, suppliers, regulators and society. Consequently, growing numbers of companies are informing their stakeholders of their social and environmental performance through print-based reporting or their websites. Although it is costly and voluntary by nature, companies still embrace in CSR, as it has been accepted as a long-term business strategy (Jamali and Mirshak, 2007) and a source of competitive advantage. It is a way to gain, maintain and repair legitimacy (Deegan et al., 2000), and it enhances a company's reputation and risk management.Consistent with the increased importance of CSR, boards' roles and responsibilities have been extended from the traditional shareholder-centric view to encompass various stakeholders. Boards of directors influence CSR in various ways, from establishing stakeholder friendly corporate policies to creating committees that deal with CSR-related matters. They are also expected to monitor company performance financially and socially (Janggu et al., 2014) and are accountable for any decisions made by management to serve for the best interest of shareholders. The board of directors also plays a pivotal role in a company's CSR activities. Nevertheless, the decision to demonstrate social and environmental responsibi...

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Section: Regression Analysissupporting

confidence: 78%

Section: Regression Analysissupporting

confidence: 75%

Section: Literature Review and Research Questionsmentioning

confidence: 99%

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Board Independence and Corporate Social Responsibility (CSR) Reporting in Malaysia

Ahmad¹

2017

AABFJ

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“…Jensen and Meckling (1976) stated that monitoring directors who have ownership interest might not disclose more to create pressure on the management. According to prior studies, these directors may not disclose more information because they already know the inside information and might be interested to maximise their interest, hence conceal some of the material information (Ahmed, 2013;Chau & Gray, 2002;Eng & Mak, 2003;Leung & Horwitz, 2004). This result also supports Akhtaruddin et.…”

Section: Voluntary Risk Disclosuresupporting

confidence: 79%

The Determinants of Voluntary Risk Disclosures: The Case of Shariah Compliant Companies in Malaysia

2017

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Risk reporting is essential in notifying investors on how companies manage the risks they engage in. Even though companies nowadays release information through press releases, corporate websites, and other forms of communications, they still have to disclose more information in their annual reports. The objective of this study is to examine the determinants of voluntary risk disclosures of Shariah compliant companies (ShCCs) in Malaysia, focusing on the religiosity factor and the ownership structure. A quantitative analysis using secondary data was employed as a method to assess the annual reports of 116 Shariah compliant companies in Malaysia for the financial years of 2012 and 2013. The findings of this study reveal that the voluntary risk disclosures in ShCCs on average are not more than sixty per cent. This study indicates no relationship between the religiosity of board members and directors' ownership to the level of voluntary risk disclosure. More importantly, this study finds the relationship between the existence of government ownership and voluntary risk disclosure in ShCCs. The study adds value to the current body of knowledge in voluntary risk disclosures and suggests the importance of risk management information in the annual reports of ShCCs as Malaysia grows as a leading country in the Islamic economy.

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“…Los consejeros independientes son más efectivos en la maximización del valor para los accionistas, y por tanto, pueden contribuir con un mayor conocimiento y experiencia. Bajo este enfoque, se ha asociado una relación significativa entre el nivel de divulgación de información y la proporción de consejeros independientes en diferentes contextos (Chen y Jaggi, 2000;Leung y Horwitz, 2004;Ajinkya et al, 2005;Kent y Steward, 2008). Al tenor de lo expuesto, se espera que una mayor proporción de consejeros independientes incremente el nivel de divulgación de GC en empresas cotizadas Latinoamericanas.…”

Section: El Sistema Legalunclassified

Factores que Inciden en una Mayor Transparencia de Gobernanza Corporativa en Empresas Cotizadas Latinoamericanas

Turrent¹

2014

REMEF

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ResumenBajo el enfoque de la teoría institucional, nuestro trabajo realiza un estudio comparativo del nivel de transparencia en gobierno corporativo de empresas cotizadas Latinoamericanas en el periodo de 2004-2010. Por otro lado, identifica aquellos factores institucionales formales que inciden en la transparencia de gobernanza empresarial. Los resultados ponen de manifiesto que el sistema legal, el tamaño y composición del consejo, la presencia del comité de auditoría, el tamaño de la empresa, el nivel de endeudamiento y el sector industrial inciden significativamente en el nivel de transparencia en gobierno corporativo en la región Latinoamericana. AbstractUnder the institutional theory approach, our work aims to obtain a comparative study of corporate governance transparency level on Latin American listed companies during 2004-2010 period. On the other hand, to identify those formal institutional factors that have a significant influence on corporate governance disclosure. The results indicate that legal system, board size, board composition, audit committee, size of the company, leverage, and industry type influence on corporate governance transparency on Latin American region.

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Director Ownership and Voluntary Segment Disclosure: Hong Kong Evidence

Cited by 141 publications

References 31 publications

Board Independence and Corporate Social Responsibility (CSR) Reporting in Malaysia

Board Independence and Corporate Social Responsibility (CSR) Reporting in Malaysia

The Determinants of Voluntary Risk Disclosures: The Case of Shariah Compliant Companies in Malaysia

Factores que Inciden en una Mayor Transparencia de Gobernanza Corporativa en Empresas Cotizadas Latinoamericanas

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