The Impact of Financial Distress Status and Corporate Governance Structures on the Level of Voluntary Disclosure Within Annual Reports of Firms (Case Study of Non-financial Firms in Indonesia Over the Period of 2009-2011) |
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作者姓名: | Evi Gantyowati Rosa Lenna Nugraheni |
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作者单位: | Sebelas Maret University, Central Java, Indonesia |
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摘 要: | The purpose of this research is to examine the impact of financial distress status and corporate governance structures on the level of voluntary disclosure. We apply six independent variables, including the firm's financial distress status and five components of corporate governance structures, such as board independence, audit committee independence, institutional ownership, board meeting frequency, and audit committee meeting frequency. This research is carried out by examining the annual reports of 114 non-financial firms listed at the Indonesian Stock Exchange over the period of 2009-2011. To test hypotheses, we undergo two different analyses, including independent samples t-test and Multiple Linear Regression. We find that: (1) The audit committee independence and the audit committee meeting frequency have significant positive impacts on the level of voluntary disclosure; (2) The financial distress status is negatively related to the level of disclosure at various levels of significance; and (3) All the independent variables are simultaneously related to voluntary disclosure.
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关 键 词: | 公司治理结构 信息披露 财务危机 金融企业 年度报告 露水 保险公司 印尼 |
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