PurposeThe purpose of this paper is to investigate the impact of independent directors and ownership structure on voluntary disclosures of Vietnamese listed firms.Design/methodology/approachYear‐ending 2008 annual report disclosures of 45 Vietnamese listed firms are analyzed. Voluntary disclosure is measured using a Vietnamese Disclosure Index adapted from prior literature. Descriptive and inferential statistics (T‐test, analysis of variance, multiple regressions (ordinary least squares)) are employed to generate empirical insights.FindingsThe results indicate that the level of voluntary disclosure among Vietnamese listed firms is relatively low (24.23 per cent). There are higher levels of disclosure relating to director and senior management details but far lower in regards to social issues. State ownership and managerial ownership are negatively and positively related to the extent of voluntary disclosure respectively. Moreover, bigger firms are found to be positively associated with voluntary disclosure.Research limitations/implicationsThe results of this study are limited to one year – 2008 – and thus, could be biased as disclosures can change over time.Practical implicationsVietnamese regulators should focus on strengthening the regulations governing the level of corporate communication in firms with high state ownership as well as encouraging more disclosure of non‐financial information to strengthen its market information transparency.Originality/valueThis study is one of the first examining the level of corporate voluntary disclosure practices among Vietnamese listed firms. Evidence from this study extends the existing voluntary disclosure literature on emerging economies whilst providing valuable insights to Vietnamese policy makers in the process of developing and improving its financial reporting regulatory framework.
This study analyses the extent of voluntary business risk disclosure from airlines-aviation companies in Asia-Pacific Economic Cooperation (APEC) countries over the period of three years (2009-2011). The results of this study indicate that level of business risk disclosure is relatively consistent high level in 62.71%-64.71%. Multiple regression analysis provides evidence that country cluster, size, leverage and load factor are positively significantly associated with business risk disclosure while government ownership impact negatively. Further ANOVA analysis showed that the highest business disclosure are from Anglo-Saxon airlines/aviation companies and the lowest voluntary business risk disclosure shown by those of emerging markets
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