Ownership structure and corporate voluntary disclosure in Hong Kong and Singapore |
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Authors: | Gerald K ChauSidney J Gray |
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Institution: | a Hong Kong Polytechnic University, Hong Kong, China b School of International Business, University of New South Wales, Quadrangle Building, Sydney, NSW 2052, Australia |
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Abstract: | Drawing on prior empirical research based on disclosure behavior in developed western markets, this study examines the association of ownership structure with the voluntary disclosures of listed companies in the Asian settings of Hong Kong and Singapore. An analysis of annual reporting practices shows that the extent of outside ownership is positively associated with voluntary disclosures. In particular, the results also indicate that the level of information disclosure is likely to be less in “insider” or family-controlled companies, a significant feature of the Hong Kong and Singapore stock markets. |
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Keywords: | Voluntary disclosures Agency theory Hong Kong Singapore |
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