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Black economic empowerment disclosures by South African listed corporations: The influence of ownership and board characteristics

Ntim, Collins G. and Soobaroyen, Teerooven (2011) Black economic empowerment disclosures by South African listed corporations: The influence of ownership and board characteristics At University of Wales Accounting and Finance Colloquium 2011, United Kingdom. 47 pp.

Record type: Conference or Workshop Item (Paper)

Abstract

This study investigates the extent to which South African (SA) listed corporations voluntarily disclose information on black economic empowerment (BEE) in their annual and sustainability reports and examines the possible motivations and resulting ownership and board factors influencing BEE disclosure behaviour. Using a sample of 75 listed corporations from 2003 to 2009 and a content analysis of BEE disclosures, our results suggest that the extent of BEE disclosures (word count) varies substantially among the sampled companies, but the disclosures have generally improved over the seven-year period. We also find that block ownership and institutional ownership are negatively associated with the extent of BEE disclosures, whereas government ownership, board diversity, board size and the percentage of non-executive directors are positively related to the extent of BEE disclosures. Our results are robust when controlling for conventional firm-level characteristics, such as cross-listing, firm size, profitability, gearing, growth and industry, as well as alternative disclosure proxies. We demonstrate that our results are consistent with agency, legitimacy, resource dependence and stakeholder theoretical predictions.

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More information

Published date: May 2011
Venue - Dates: University of Wales Accounting and Finance Colloquium 2011, United Kingdom, 2011-05-01
Keywords: annual and sustainability reports, black economic empowerment, longitudinal corporate social responsibility disclosures, ownership and board factors, multi-theoretical framework, south africa
Organisations: Accounting

Identifiers

Local EPrints ID: 189137
URI: http://eprints.soton.ac.uk/id/eprint/189137
PURE UUID: 2b89cbca-25b0-480e-ace2-705b646e2f21

Catalogue record

Date deposited: 31 May 2011 10:46
Last modified: 18 Jul 2017 11:40

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