Ownership Structure and Disclosure Quality: Case of Iran

Sepasi, Sahar; Kazempour, Morteza; Mansourlakoraj, Roya

doi:10.1016/s2212-5671(16)30021-1

Cited by 16 publications

(36 citation statements)

References 7 publications

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“…In other countries, such as Singapore, study about disclosure and corporate governance was conducted by Eng & Mak [8] Their study found that ownership structure affects the level of voluntary disclosure, where the government ownership increases the likelihood of voluntary disclosure. But this finding is in contrast with Sepasi et al [9]. Their study found that government ownership does not influence the level of disclosure in the Tehran Stock Exchange.…”

Section: Introductioncontrasting

confidence: 58%

See 1 more Smart Citation

Family-owned and State-owned Firms Disclosure: Comparative Analysis of Indonesia Public Firms

Ratnasari¹,

Adhariani²

2019

Proceedings of the 2018 International Conference on Islamic Economics and Business (ICONIES 2018)

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This study aims to compare the disclosure between family-owned and state-owned firms in Indonesia Stock Exchange included in LQ45 Index in 2016. The indicator used is the Principle of Disclosure and Transparency in ASEAN Corporate Governance (ACG) Scorecard, and the method used are the qualitative descriptive and mean-comparison test. Besides, further analysis was done by classifying the findings into mandatory and voluntary disclosure. The findings show that overall, the aggregate disclosure of familyowned firms is significantly lower than state-owned firms. The interesting findings that characterize the difference are placed on Quality of Annual Report. It confirms that familyowned firms are more likely to disclose financial than governance disclosure, compared to state-owned firms. This paper motivates the government to put more emphasize on regulation since the information disclosure is crucial to stakeholders.

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Section: Introductioncontrasting

confidence: 58%

“…In the case of state-owned firms where the major ownership is by government, Sepasi et al [9] conducted research regarding government ownership and private ownership to the extent of disclosure. The finding was the government ownership do not affect the disclosure quality of firms.…”

Section: Disclosure Level and Ownershipmentioning

confidence: 99%

Family-owned and State-owned Firms Disclosure: Comparative Analysis of Indonesia Public Firms

Ratnasari¹,

Adhariani²

2019

Proceedings of the 2018 International Conference on Islamic Economics and Business (ICONIES 2018)

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“…Islamic bank risk disclosure. Government ownership and risk disclosureOnly few studies discussed the effect of government ownership on corporate disclosure Sepasi et al (2016). provide evidence that government influence firm's disclosure.…”

mentioning

confidence: 99%

Do ownership structures affect risk disclosure in Islamic banks? International evidence

Moumen

Grassa

Hussainey

2020

JFRA

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Purpose Previous works assessing the determinants of banks’ risk disclosure in emerging economies focused on one aspect of risk reporting such as market risk disclosure or operational risk disclosure. While banks’ transparency about other major risk types (e.g. capital adequacy, liquidity risk…) is important for both market discipline and for their financial stability, no previous research has tried to discuss their determinants for Islamic banks. This paper aims to fill the gap by assessing the effects of deposits structure and ownership concentration on risk disclosure for Islamic banks. Design/methodology/approach The authors based on a sample of 71 Islamic banks operating in 12 emerging economies and observed over the period 2009–2014. The authors used a risk disclosure index covering nine dimensions, and the authors used both generalized least squares (GLS) regression and generalized method of moments (GMMs) as econometric tools. Findings The findings suggests that the level of risk disclosure is lower for Islamic banks with higher ownership concentration, leveraged bank, listed banks and Islamic banks. However, risk disclosure is higher for Islamic banks with higher concentration of profit sharing investment account (PSIA) and higher foreign ownership, large Islamic banks, aged banks, Islamic banks operating in country with higher country transparency index, positively correlated to gross domestic products and Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) adoption. By disaggregating total risk disclosure into the nine sub-categories, the authors are able to specify, also, the components of risk disclosure impacted by various determinants. Research limitations/implications This paper’s findings are subject, also, to a number of limitations. First, there was manual scoring of annual reports (subjectivity). Second, while some items might have higher information content or be more useful than others for users of Islamic banks’ annual reports, no weighting is assigned to items. Third, the research focuses exclusively on the 12 countries and excludes the other Middle East, Southeast Asia and Far East countries where ownership structure and deposits structure might affect risk disclosure differently. Originality/value The findings suggest many policy implications. First, regulators have to improve corporate governance mechanisms in Islamic banking system through the optimization of ownership structure (dispersed ownership) to promote transparency and disclosure. Second, regulators and policymakers should revise guidelines in the main purpose to protect PSIAs holders (considered as minor shareholders without voting power) through promoting disclosure and transparency. Third, the findings can be useful for many international supervisory bodies such as the IFSB and AAOIFI to evaluate transparency and disclosure standards.

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“…First, it was observed that as administrative investors were closely associated with the financial reporting process, they were more likely to hide some relevant information deliberately (Shayan-Nia et al, 2017). Second, administrative investors were more inclined to use their power to review issues of significance depending on their interests (Sepasi, Kazempour, & Mansourlakoraj, 2016). Finally, Francis, Schipper and Vincent (2005) proposed that managerial owners can also exert their authority on accounting policies, consistent with their interests.…”

Section: Managerial Ownership Ifrs Adoption and Eqmentioning

confidence: 99%

Ownership Structure and Earnings Quality Pre- and Post-IFRS: Does Investor Protection Matter?

Alhadi¹,

Senik

Johari

et al. 2020

AJBA

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Manuscript type: Research paper Research aims: This study examines whether managerial and institutional ownership is associated with higher earnings quality (EQ) after the implementation of International Financial Reporting Standards (IFRS), in comparison to the pre-IFRS period. It also examines the moderating effect of investor protection (INPT) on the link between ownership structure and EQ. Design/Methodology/Approach: This study uses a dynamic panel data modelling on a sample of 2090 firm-year observations, from 2007-2016, in Malaysia. This study applies the generalized method of moments (GMM) to deal with the econometric problems. Research findings: The results indicate that managerial ownership is essential for improving EQ before and after IFRS adoption. No

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Ownership Structure and Disclosure Quality: Case of Iran

Cited by 16 publications

References 7 publications

Family-owned and State-owned Firms Disclosure: Comparative Analysis of Indonesia Public Firms

Family-owned and State-owned Firms Disclosure: Comparative Analysis of Indonesia Public Firms

Do ownership structures affect risk disclosure in Islamic banks? International evidence

Ownership Structure and Earnings Quality Pre- and Post-IFRS: Does Investor Protection Matter?

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