Ownership concentration, voluntary disclosures and information asymmetry in New Zealand

Jiang, Haiyan; Habib, Ahsan; Hu, Baiding

doi:10.1016/j.bar.2010.10.005

Cited by 88 publications

(87 citation statements)

References 48 publications

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“…Compared to the current study (Jordan), the past studies such as those by Ho and Wong (2001) in Hong Kong, Jiang et al (2011) However, studies by Akhtaruddin and Haron (2010), Akhtaruddin et al (2009), Botosan, (1997), Kurawa&Kabara, (2014), and Cormier et al (2012 indicated the overall level of voluntary disclosure higher than the current study's with the average disclosures of 54.42%, 52.20%, 64%, 65% and 74.33% respectively.…”

Section: Journal Of Public Administration and Governancecontrasting

confidence: 47%

Corporate Governance and Voluntary Disclosure of Interim Financial Reporting in Jordan

Albawwat¹,

Basah²

2015

jpag

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In today's economy, companies try to publicize their good value by revealing related information in their financial reports as a way of convincing their stakeholders that investment in them is a good move. This paper delves into the relationship that exists between characteristics of corporate governance and structure of ownership on voluntary disclosure in interim financial reports (half yearly) published, focusing on variables that affect voluntary disclosure of the ASE Jordanian listed companies. The dynamic panel system GMM estimation was employed on the data from 72 selected ASE listed companies for the period of [2009][2010][2011][2012][2013], and the results show that a substantial degree of voluntary disclosure is demonstrated in high level corporate governance awareness and implementation in Jordan. Specifically, the factors of board compensation, audit firm size, and government ownership significantly impact voluntary disclosure. Aside from that, voluntary disclosure in the half-yearly reports has potential impact on market capitalization.

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Section: Journal Of Public Administration and Governancecontrasting

confidence: 47%

Corporate Governance and Voluntary Disclosure of Interim Financial Reporting in Jordan

Albawwat¹,

Basah²

2015

jpag

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“…Furthermore, it is believed that transparency and adequate disclosure are also important in order to ensure the protection of minority shareholder's rights (Jiang et al, 2011). This is because voluntary disclosure expresses the transparency and accountability of management in conducting business (Akhtaruddin & Haron, 2010;Li et al, 2012).…”

Section: Introductionmentioning

confidence: 99%

“…Corporate voluntary disclosure is regarded as a mechanism to reduce information asymmetry between firm and outside investors (Akhtaruddin & Haron, 2010;Jiang, Habib, & Hu, 2011), and hence lowers agency costs which leads to improve corporate reporting transparency (Akhtaruddin & Haron, 2010). Furthermore, it is believed that transparency and adequate disclosure are also important in order to ensure the protection of minority shareholder's rights (Jiang et al, 2011).…”

Section: Introductionmentioning

confidence: 99%

The Impact of Audit Committee Characteristics on Corporate Voluntary Disclosure

Madi

Ishak

Manaf

2014

Procedia - Social and Behavioral Sciences

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The purpose of this study is to investigate the influence of audit committee characteristics on corporate voluntary disclosure of 146 Malaysian listed firms for the year 2009. Based on content analysis of disclosure, the empirical results of multiple regressions reveal that audit committee independence, size and multiple directorships of audit committee members are positively associated with corporate voluntary disclosure. Frequency of meetings and financial expertise of audit committee members are not significantly associated with corporate voluntary disclosure. The results offer evidence to policy makers, investors and accounting professionals on the extent to which audit committee characteristics associated with such committee effectiveness in monitoring corporate reporting processes.

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“…Jiang et al (2011b) (Jiang et al, 2011a). In addition, prior research finds that the last transaction of the day, which results in the closing price, tends to occur at the ask price (Harris, 1989;Porter, 1992).…”

Section: 2prior Research On Fair Value Measurementmentioning

confidence: 99%

Fair value measurements of exchange-traded funds

Badenhorst

2015

Meditari Accountancy Research

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Purpose: To investigate the extent to which different prices within the bid-ask spread are used for fair value measurements and evaluate the potential consequences thereof.Design/methodology/approach: The paper investigates different level one fair value measurements of exchange-traded funds' equity investments. Using descriptive methods, it compares actual and stated fair value measurement policies. In addition, comparative value-relevance of these measurements is investigated in regression analysis.Findings: Most fair value measurements are based on closing prices, but stated accounting policies and actual measurements frequently differ. Results also show that the bid-close spread of underlying investments is value-relevant in determining the bidclose spreads of ETFs themselves. Research limitations/implications:Findings are specific to unleveraged ETFs, the sample country and sample period used and only apply to investments in listed equities.Conclusions from this study may assist in predicting market perceptions of the risk of listed equity portfolios. Practical implications:This paper sheds light on the practical impact of the recent change in fair value measurement guidance. Originality/value:This study provides evidence on the size of the bid-ask spread of actual investment portfolios and its potential impact. It shows that bid-close spreads of underlying investments are used to price the bid-close spreads of ETFs themselves and that stated and actual accounting policies often differ. Findings imply that standardsetters might be influenced by actual accounting practices.

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Ownership concentration, voluntary disclosures and information asymmetry in New Zealand

Cited by 88 publications

References 48 publications

Corporate Governance and Voluntary Disclosure of Interim Financial Reporting in Jordan

Corporate Governance and Voluntary Disclosure of Interim Financial Reporting in Jordan

The Impact of Audit Committee Characteristics on Corporate Voluntary Disclosure

Fair value measurements of exchange-traded funds

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