Corporate boards and ownership structure as antecedents of corporate governance disclosure in Saudi Arabian publicly listed corporations
Corporate boards and ownership structure as antecedents of corporate governance disclosure in Saudi Arabian publicly listed corporations
We investigate whether and to what extent publicly listed corporations voluntarily comply with and disclose recommended good corporate governance (CG) practices, and distinctively examine whether the observed cross-sectional differences in such CG disclosures can be explained by ownership and board mechanisms with specific focus on Saudi Arabia. Our results suggest that corporations with larger boards, a big-four auditor, higher government ownership, a CG committee and higher institutional ownership disclose considerably more than those that are not. By contrast, we find that an increase in block ownership significantly reduces CG disclosure. Our results are generally robust to a number of econometric models that control for different types of disclosure indices, firm-specific characteristics and firm-level fixed-effects. Our results have important implications for policy-makers, practitioners and regulatory authorities, especially those in developing countries across the globe
335-377
Al-Bassam, Waleed M.
067d6664-bb09-4471-832d-38f230825510
Ntim, Collins
1f344edc-8005-4e96-8972-d56c4dade46b
Opong, Kwaku K.
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Downs, Yvonne
86c7c3b4-3a9a-4eac-8c9c-02f274ab6d0d
1 February 2018
Al-Bassam, Waleed M.
067d6664-bb09-4471-832d-38f230825510
Ntim, Collins
1f344edc-8005-4e96-8972-d56c4dade46b
Opong, Kwaku K.
d0be5207-8d96-417d-9ef4-144d8056e0f3
Downs, Yvonne
86c7c3b4-3a9a-4eac-8c9c-02f274ab6d0d
Al-Bassam, Waleed M., Ntim, Collins, Opong, Kwaku K. and Downs, Yvonne
(2018)
Corporate boards and ownership structure as antecedents of corporate governance disclosure in Saudi Arabian publicly listed corporations.
Business & Society, 57 (2), .
(doi:10.1177/0007650315610611).
Abstract
We investigate whether and to what extent publicly listed corporations voluntarily comply with and disclose recommended good corporate governance (CG) practices, and distinctively examine whether the observed cross-sectional differences in such CG disclosures can be explained by ownership and board mechanisms with specific focus on Saudi Arabia. Our results suggest that corporations with larger boards, a big-four auditor, higher government ownership, a CG committee and higher institutional ownership disclose considerably more than those that are not. By contrast, we find that an increase in block ownership significantly reduces CG disclosure. Our results are generally robust to a number of econometric models that control for different types of disclosure indices, firm-specific characteristics and firm-level fixed-effects. Our results have important implications for policy-makers, practitioners and regulatory authorities, especially those in developing countries across the globe
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Accepted/In Press date: 8 July 2015
e-pub ahead of print date: 16 October 2015
Published date: 1 February 2018
Organisations:
Centre of Excellence for International Banking, Finance & Accounting
Identifiers
Local EPrints ID: 400961
URI: http://eprints.soton.ac.uk/id/eprint/400961
ISSN: 0007-6503
PURE UUID: 52333633-9559-44f0-9e56-f0e0901cfd9c
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Date deposited: 30 Sep 2016 14:18
Last modified: 16 Mar 2024 02:27
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Contributors
Author:
Waleed M. Al-Bassam
Author:
Kwaku K. Opong
Author:
Yvonne Downs
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