Determinants and features of voluntary disclosure in the Chinese stock market

Artikel

This paper offers in-depth analysis of the determinants and features of voluntary disclosure based on information in the annual reports of 1066 Chinese firms listed on the Shanghai and Shenzhen Stock Exchanges. This extensive sample represents about 80% of all public companies in China. Our findings suggest that voluntary disclosure in China is positively related to firm size, leverage, assets-in-place, and return on equity and is negatively related to auditor type and the level of maturity or sophistication of the intermediary and legal environments. We also find some evidence to suggest a quadratic convex association between state ownership and voluntary disclosure. However, our analysis provides no evidence that extensive disclosure benefits public companies in China in the form of a lower cost of equity.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Journal: China Journal of Accounting Research ; ISSN: 1755-3091 ; Volume: 6 ; Year: 2013 ; Issue: 4 ; Pages: 265-285 ; Amsterdam: Elsevier

Klassifikation und Themen

• Klassifikation: Management ; Corporate Finance and Governance: General ; Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill ; Mergers; Acquisitions; Restructuring; Voting; Proxy Contests; Corporate Governance
• Thema: Voluntary disclosure ; Cost of equity ; Ultimate control ; Chinese stock market

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Lan, Yang ; Wang, Lili ; Zhang, Xueyong
• Ereignis: Veröffentlichung
• (wer): Elsevier
• (wo): Amsterdam
• (wann): 2013

Weitere Informationen

• DOI: doi:10.1016/j.cjar.2013.04.001
• Handle: http://hdl.handle.net/10419/187597
• Letzte Aktualisierung: 10.03.2025, 11:43 MEZ